Exam 7: Standardized Information Sources

Adnorms is a standardized service that allows managers to determine the characteristics of TV ads that are most likely to lead to actual purchase of consumer durables such as automobiles.

Which of the following standardized information sources provides information on several media such as magazines, newspapers, television, radio, cable, and so on?

GIS stands for Geodemographic Information Systems.

A company offering a predetermined method of measuring customer satisfaction would be an example of:

Which of the following standardized information services firms is developing a device that will automatically record media (radio, TV, or Web pages)to which a person is exposed?

Which of the following market tracking studies provides members of its panel with an ID card they present at checkout counters in grocery and drugstores?

VALS stands for Value Added by Logistical Support and is a tool used in the industrial market. It represents a form of syndicated data.

One of the key advantages of single source data is that they may be used to help managers determine causal relationships. BehaviorScan is a single source service.

Because firms subscribing to syndicated data share the costs of data collection and dissemination, the information comes to them at a lower cost than if they collected it themselves.

VALS is a system that has identified consumer segments based upon personality traits. VALS has also associated personality traits with purchase behavior. As an example, the VALS segment, "Innovators," are known to make purchases that reflect cultivated tastes for upscale, niche products and services.

Consumers create a great deal of information through blogs, discussion boards, forums, user groups and the like. This information is valuable to companies and would be called:

Tracking studies gather data from retail stores by using either scanner data or by conducting retail-store audits.

Which of the following is NOT one of the VALS segments?

Mary Elizabeth Yarbrough is a farmer in the San Francisco, California area. She grows herbs thought to be medicinal and other products thought to promote health and nutrition. Her business is quite large, but in the past she has found it hard to make decisions about which products to add, drop or to consider for future crops because she has a difficult time finding market data. However, she learned recently there is a firm by the name of SPINS that happens to be located in San Francisco that provides data collected by scanners in natural and organic food stores. Her problem, now solved, illustrates which disadvantage of scanner tracking data discussed in your textbook?

ESRI's Tapestry Segmentation is a standardized service that classifies all U.S. neighborhoods into 65 different segments such as "Top Rung" and "Aspiring Young Families."

The Nielsen TV ratings are reported in 210 geographical market areas in the U.S. market. These "TV markets" were devised by Nielsen and are called:

Nielsen's Scantrack Services and Information Resources, Inc.'s, InfoScan Custom Store Tracking services are:

Dun's Market Identifiers (DMI)is useful for providing market segmentation information on members of the industrial market.

One advantage of the Gallup Poll is that the company has been tracking the same attitudes and opinions over many years, and business executives can track how these attitudes, such as attitudes toward private brands, are changing.

One of the problems with today's complex information technology is ________. Marketing research firms are attempting to deal with this problem by offering products and services labeled "decision support systems," "data mining systems," or "expert systems" like IRI's Builder Suite services or Nielsen's Category Business Planner.