Deck 10: Gathering and Using Information: Marketing Research and Market Intelligence

Question 1

_____ is a buzzword people are using to refer to the massive amounts of online and offline data being gathered today.

A)Big info
B)Complex data
C)Big data
D)Complex info
E)Total data

Answer 1

C

Question 2

Which of the following is the most effective way that an online book retailer can utilize to recommend products its customers might like?

A)Analytics ware
B)Supplier information
C)Industrial espionage
D)Accounting information
E)Clickstream data

Answer 2

E

Question 3

Even if you simply get good information that is of no use,marketing research should be performed because the marketer is better equipped for his/her job.

Answer 3

False

Question 4

The intranet is an excellent tool utilized by companies to reach consumers.

Question 5

Sue often travels to other grocery stores in the marketplace to observe how much they are charging for the same products she stocks at her store. Sue is engaging in _____.

A)secret shopping
B)market intelligence
C)market dominance
D)investigatory journalism
E)sleuth marketing

Question 6

Marketing research is utilized when market intelligence,internal company data,and analytics software falls short.

Question 7

One standard set forth in the Code of Ethics for Market Intelligence Professionals is to avoid conflicts of interest in fulfilling one's duties.

Question 8

Understanding customers requires both quantitative and qualitative data.

Question 9

Salespeople are primarily involved in gathering competitor intelligence; so many companies have instituted CDB systems.

Question 10

Market research is typically inexpensive.

Question 11

Marketing research should not necessarily be performed just because the competition is engaging in it.

Question 12

Industrial espionage mainly involves examining content in blogs,and other online media to determine what people are thinking at any given time.

Question 13

Market research is the process of researching a specific market to determine its size and trends.

Question 14

Analytics software is utilized to generate information produced in reports generated by the company regularly.

Question 15

A(n)_____ is a way to manage the vast amount of information firms have on hand.

A)EDS
B)RFID
C)MRS
D)MIS
E)SCM

Question 16

Companies who neglect the task of gathering market intelligence are vulnerable.

Question 17

The primary purpose of market research is to collect,analyze,and report marketing information that can be used to answer questions or solve problems so as to improve a company's bottom line.

Question 18

Suppliers are a source of market intelligence.

Question 19

Marketing information systems involve all of the following EXCEPT:

A)a system for collecting market intelligence on an ongoing basis.
B)a system for recording marketing research information.
C)a system for collecting test market information.
D)a system for recording internally generated data and reports.
E)marketing analytics software to help managers with their decision making.

Question 20

_____ typically involves researching a specific market to determine its size and trends.

A)Market research
B)Profitability research
C)Test marketing
D)Test market research
E)Market testing

Question 21

Data is combined with statistical techniques by:

A)marketing interns.
B)market trend analysis.
C)analytics software.
D)CRM.
E)the intranet.

Question 22

Combining data into one location is called _____,

Question 23

MIS is a system used to _____ that a firm's marketing professionals and managers need to make good decisions.

Question 24

The Economist is an example of a(n)_____ that provides a company with market intelligence.

Question 25

Standards for the Code of Ethics for Market Intelligence Professionals includes:

A)manipulating the data as the researcher sees fit.
B)providing honest and realistic recommendations and conclusions in the execution of one's duties.
C)complying with enforced laws,but allowing for bribery where socially acceptable.
D)abiding by personal guidelines,even if they fall out of line with the company's guidelines.
E)concealing information,such as one's identity,for the integrity of the results.

Question 26

Managers who are not computer savvy may utilize ______ to convert data into meaningful information.

Question 27

Market trends can be uncovered internally utilizing:

A)industrial espionage.
B)data mining techniques.
C)repositioning.
D)alpha testing.
E)product launch.

Question 28

Gathering corporate information illegally or unethically is referred to as _____.

Question 29

Competitive intelligence involves gathering information on a regular,ongoing basis to stay in touch with _____.

Question 30

Combining data into one location is called _____,

A)dashboard highlighting
B)data warehousing
C)systems analysis
D)clickstreaming
E)data mining

Question 31

_____ is the process of collecting,analyzing,and reporting marketing information that can be used to answer questions or solve problems.

Question 32

_____ is the process of extracting information from large databases so as to uncover patterns and trends.

Question 33

Stealing product strategy information from a competitor is known as:

A)industrial espionage.
B)competitive intelligence.
C)product investigation.
D)consumer protection.
E)strategic marketing.

Question 34

The advantage of market research is that it:

A)can be expensive.
B)takes time.
C)can help make a good decision.
D)is infallible.
E)is always done.

Question 35

Accessing internally generated information quickly:

A)can give a company a competitive advantage.
B)aids data mining techniques.
C)helps to stabilize sales data.
D)generates revenue data.
E)manages data via the Internet.

Question 36

_____ is data generated about the number of people who visit a Web site and its various pages.

Question 37

_____ is an advanced branch of analytics that utilizes sophisticated techniques such as data mining,statistics,experiments,and machine learning to detect patterns and develop models used to predict future outcomes.

Question 38

A private,internal Web site accessible only to a firm's employees is known as a(n)_____.

Question 39

Tom's internship position involves reading trade magazines and economic data to educate himself and his boss about market trends. Tom is involved in _____.

A)sentiment analysis
B)industrial espionage
C)intranet extraction
D)market intelligence
E)data system mining

Question 40

_____ is a method of examining content in blogs,tweets,and other online media to determine what people are thinking at any given time.

A)Data warehousing
B)Sentiment analysis
C)Alpha testing
D)Industrial espionage
E)Repositioning

Question 41

Data brokers gather offline secondary data about consumers,create detailed profiles of them,and then sell the information to the other firms.

Question 42

Marketing research can be used to improve the company's _____.

Question 43

Defining a research problem is typically an task for a company.

Question 44

_____ is information gathered on a regular,ongoing basis to enable a firm's decision-makers to stay in touch with what is happening in the marketplace.

Question 45

Information Resources Inc.serves as a marketing research aggregator.

Question 46

Scanner-based research involves buying research reports from other marketing research companies and then selling the reports in their entirety or in pieces to other firms.

Question 47

What is stated in the code of ethics established by the Society of Competitive Intelligence Professionals?

Question 48

List the components that make up a marketing information system.

Question 49

Syndicated research is primary data that marketing research firms collect on a regular basis and sell to other companies.

Question 50

List and describe sources of market intelligence.

Question 51

Cite some of the reasons that should not be taken into account while deciding on whether to conduct marketing research.

Question 52

_____ software utilizes a firm's data,regression models,linear programming,and other statistical methods to help managers who are not computer experts.

Question 53

There is little need to be skeptical of secondary data.

Question 54

Provide examples of tasks aiding marketing.

Question 55

Handbooks,dictionaries,and books are sources of secondary data.

Question 56

Market research is on the path to failure from the start if the problem is improperly defined.

Question 57

Market research is the process of researching a specific market to determine its _____ and _____.

Question 58

Gathering information about competitors through spying is known as _____.

Question 59

Designing the research is the first step in the marketing research process.

Question 60

A researcher should always try to collect primary data first to save time.

Question 61

It is important to keep the audience in mind when writing a research report.

Question 62

Sam is responsible for buying market research reports and then selling the reports to other companies. Sam works for a(n)_____.

A)marketing research aggregator
B)primary data collection firm
C)scanner-based research firm
D)research design firm
E)focus group

Question 63

Rachel's boss asks her to collect demographic information pertaining to three cities in which the company is thinking of expanding. Utilizing _____ would prove to be most effective for this assignment.

A)in-depth interviews
B)primary data
C)secondary data
D)Nielsen ratings
E)industrial espionage

Question 64

One of the characteristics of secondary research is that:

A)it is time consuming.
B)the data is collected for another purpose.
C)it is work intensive.
D)it is relatively expensive.
E)it is tailored to the research at hand.

Question 65

Exploratory research utilizes qualitative data.

Question 66

Causal research is typically utilized when a problem has not yet been defined.

Question 67

_____ measure(s)the size of television audiences in various markets.

A)The Survey Research Center at the University of Michigan
B)The United Nations
C)J.D.Power & Associates
D)The U.S.Census Bureau
E)The Nielsen ratings

Question 68

Face-to-face surveys allow researchers to ask more complex questions than mail surveys.

Question 69

A depth interview utilizes open-ended questions.

Question 70

A depth interview involves a group of potential buyers discussing a market research topic.

Question 71

Projective techniques utilize specific,direct questions to reveal information.

Question 72

Face-to-face surveys are less expensive to administer than mail surveys.

Question 73

A top-level executive responsible for developing policies to ensuer his or her firm is collecting information legally and accurately is referred to as a:

A)Chief privacy officer
B)Chief information officer
C)Chief tech officer
D)Chief collection monitor
E)Chief privacy monitor

Question 74

Descriptive research answers the question "Why?" when describing phenomenon.

Question 75

Pretesting a questionnaire is typically a waste of valuable company resources.

Question 76

The size of the sample has an effect on the amount of sampling error.

Question 77

An example of a primary data resource is:

A)syndicated research.
B)internal records.
C)marketing intelligence.
D)an in-depth interview.
E)J.D.Power & Associates.

Question 78

The goal that is to be accomplished by marketing research is known as the:

A)research objective.
B)research problem.
C)research design.
D)research purpose.
E)research study.

Question 79

Exploratory research includes:

A)examining cause-and-effect relationships.
B)depth interviews and projective techniques.
C)gathering numbers.
D)measuring people's involuntary physical responses.
E)measuring responses to advertising.

Question 80

_____ is any form of research that includes gathering data that is not quantitative.

A)Statistical research
B)Industrial espionage
C)Qualitative research
D)Data warehousing
E)Clickstream data