Deck 4: Managing Marketing Information to Gain Customer Insights

Question 1

An early warning and environmental monitoring system is called an ________ information system.

Answer 1

executive

Question 2

A marketing information system (MIS)consists of people and procedures to assess information needs,________ and help decision makers analyse and use the information.

A)experiment to develop information
B)test market the information
C)develop the needed information
D)critique the needed information
E)compare the needed information

Answer 2

C

Question 3

Customer needs and buying motives are typically obvious to marketers.

Answer 3

False

Question 4

The marketing information system can serve ________.

A)the company's marketing managers
B)suppliers
C)resellers
D)marketing services agencies
E)All of the above.

Question 5

The real value of a company's marketing research and information system lies in how it is used-in the ________.

A)amount of data it generates
B)variety of contact methods it uses
C)efficiency with which it completes studies
D)customer insights it provides
E)marketing information system it follows

Question 6

Despite the data glut that marketing managers receive,they frequently complain that they lack ________.

A)enough information of the right kind
B)reliable information
C)timely information
D)accurate information
E)valid information

Question 7

Marketing ________ is the function that links consumer,customer and public to the marketer through information that is used to identify and define marketing opportunities and problems.

Question 8

Studies involving a lot of people and utilising statistical tools and techniques are known as ________ research.

Question 9

Marketing ________ is the systematic collection and analysis of publicly available information about competitors and developments in the marketing environment.

Question 10

Techniques for gathering marketing intelligence range from monitoring internet buzz or observing consumers firsthand,to quizzing the company's own employees,benchmarking competitors' products,researching the internet,lurking around industry trade shows and even rooting through rivals' trash bins.

Question 11

A good MIS balances the information users would ________ against what they really ________ and what is ________.

A)need;like;feasible
B)like;can afford;needed
C)like to have;need;feasible to offer
D)need;can afford;useful
E)use;have to use;available

Question 12

Marketers must weigh carefully the costs of additional information against the ________ resulting from it.

A)organisation
B)benefits
C)creativity
D)ethical issues
E)cost

Question 13

An effective MIS assesses information needs,develops needed information and distributes the information to help managers use it in decision making.

Question 14

________ records can usually be obtained more quickly and cheaply than other information sources.

Question 15

A marketing information system consists of ________,equipment and procedures used to gather,sort,analyse,evaluate and distribute information to marketing decision makers.

Question 16

The real value of marketing research and information lies not in quantity but in the customer insights provided.

Question 17

Which of the following statements is NOT true regarding information collected by marketers?

A)Managers lack information of the right kind.
B)Most managers do not need more information.
C)Most managers need better information.
D)Many managers are burdened by data overload.
E)Managers have the right information and they have enough of it.

Question 18

Studies involving a small number of individuals,such as focus groups or in-depth one-on-one interviews,are known as ________ research.

Question 19

Most marketers today believe they still lack a sufficient quantity of research data to make high-quality decisions.

Question 20

Competitive marketing intelligence is confined to the collection and analysis of information about competitors but does not include information about consumers.

Question 21

Which of the following is NOT a potential source for marketing intelligence?

A)competitors' garbage
B)competitors' products
C)competitors' sales data published in annual reports
D)primary data
E)discussions with purchasing agents

Question 22

________ research is used to describe things such as the market potential for a product.

Question 23

________ research is used to gather preliminary information that will help to define problems better and suggest hypotheses.

Question 24

Which of the following is NOT considered a source of marketing intelligence?

A)suppliers
B)resellers
C)key customers
D)causal research
E)activities of competitors

Question 25

Major suppliers and resellers are not important sources of intelligence information for marketing decision making.

Question 26

Too much marketing information can be as harmful as too little.

Question 27

Studies involving a lot of people and utilising statistical tools and techniques are known as ________ research.

Question 28

Currently researching data sources from within the company to make marketing decisions involves making use of ________ databases.

A)external
B)current
C)historical
D)internal
E)foreign

Question 29

Faced with determined competitive marketing intelligence efforts by competitors,most companies are now doing which of the following?

A)training employees on protecting company information
B)promising to not participate in marketing intelligence efforts against competitors
C)providing employees with less key company information
D)decreasing the number of employees involved in decision-making processes
E)introducing codes of ethics

Question 30

Your firm faces determined marketing intelligence efforts by competitors.Managers are likely to instruct employees on how to take steps to protect information.

Question 31

Which of the following is LEAST likely to be emphasised as a benefit (or selling point)of marketing research?

A)assessing market potential and market share
B)understanding customer satisfaction and purchase behaviour
C)measuring the effectiveness of pricing and accounting
D)measuring the effectiveness of distribution and promotion activities
E)understanding customer motivation

Question 32

Data age quickly,so keeping the database current requires dedicated resources.

Question 33

Which of the following statements regarding marketing intelligence is true?

A)Marketing intelligence is privately held information.
B)The advantage of using competitive intelligence is negligible.
C)All marketing intelligence is free.
D)Marketing intelligence is publicly available information.
E)Marketing intelligence gathering is more focused on gaining insights into consumer activities than competitors' activities.

Question 34

________ is the systematic collection and analysis of publicly available information about consumers,competitors and developments in the marketing environment.

A)Marketing data
B)Marketing intelligence
C)Sales management
D)Customer intelligence
E)Competitive intelligence

Question 35

When you collate and compile information from your company's accounting and sales records stored in the computer,you are developing an internal database.

Question 36

Your marketing department is attempting to improve strategic decision making,track competitors' actions,and provide early warning of opportunities and threats.To achieve this goal,which of the following would be the best for the department to use?

A)internal databases
B)external databases
C)marketing intelligence
D)the internet
E)company reports only

Question 37

Marketing information from which type of database can usually be accessed more quickly and cheaply than other information sources?

A)external
B)LexisNexis
C)DataStar
D)internal
E)ProQuest

Question 38

Good sources of marketing intelligence information include competitors' annual reports,business publications,trade show exhibits,press releases,advertisements and web pages.

Question 39

Which of the following is an example of a free online database that a company could access in order to develop marketing intelligence?

A)LexisNexis
B)Dun and Bradstreet
C)Australian Securities and Investments Commission's (ASIC)database
D)ProQuest
E)None of the above.

Question 40

Four common sources of internal data supplied to internal databases include the accounting department,operations,the salesforce and the ________.

A)owners
B)stockholders
C)marketing department
D)competition
E)Web

Question 41

A firm is conducting marketing research to determine the best options for opening new stores.Which of the following is NOT a source of secondary data that the firm might use?

A)Experian Australia
B)commercial online databases
C)online questionnaires
D)Web search engines
E)local chambers of commerce

Question 42

Exploratory research is used to ________.

A)define the problem and identify hypotheses
B)test hypotheses about cause-and-effect relationships
C)gather preliminary information that will help define problems
D)find information at the outset of the research process in an unstructured way
E)quantify observations that produce insights unobtainable through other forms of research

Question 43

Causal research is used to ________.

A)test hypotheses about cause-and-effect relationships
B)gather preliminary information that will help define problems
C)find information at the outset of the research process in an unstructured way
D)describe marketing problems or situations
E)quantify observations that produce insights unobtainable through other forms of research

Question 44

In the second step of the marketing research process,research objectives should be translated into specific ________.

A)marketing goals
B)information needs
C)dollar amounts
D)research methods
E)information sources

Question 45

The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses.

A)descriptive
B)exploratory
C)causal
D)qualitative
E)descriptive and exploratory

Question 46

You want to observe how often consumers listen to music throughout their day and what different audio devices they use.You are also interested in how consumers store and access their own music collections.Which type of research is best suited to this task?

A)causal
B)experimental
C)secondary
D)survey
E)exploratory

Question 47

________ research is used to test hypotheses about cause-and-effect relationships.

Question 48

What is the first step in the marketing research process?

A)developing a marketing information system
B)defining the problem and research objectives
C)developing the research plan for collecting information
D)implementing the research plan
E)interpreting data and deciding on type of research

Question 49

You are about to test the hypothesis that sales of your product will increase at a very similar rate at either a $5 drop in unit price or a $7 drop in unit price.You are involved in what type of research?

A)exploratory
B)descriptive
C)causal
D)focus group
E)ethnographic

Question 50

Which of the steps in the marketing research process has been left out of the following list: defining the problems and research objectives,implementing the research plan,and interpreting and reporting the findings?

A)developing the research budget
B)choosing the research agency
C)choosing the research method
D)developing the research plan
E)comparing and contrasting primary and secondary data

Question 51

________ is the systematic design,collection,analysis and reporting of data relevant to a specific marketing situation facing an organisation.

A)The marketing information system
B)Marketing research
C)Exploratory research
D)Observational research
E)Causal research

Question 52

Information collected from online databases on the internet is an example of ________ data.

A)primary
B)secondary
C)observational
D)experimental
E)ethnographic

Question 53

Of the following combinations,managers would be most likely to start with ________ research and later follow with ________ research.

A)exploratory;causal
B)descriptive;causal
C)descriptive;exploratory
D)causal;descriptive
E)causal;exploratory

Question 54

Data that consists of information that already exists somewhere and was collected for an alternate purpose is known as ________ data.

Question 55

Which form of data below can usually be obtained more quickly and at a lower cost than the others?

A)primary
B)survey research
C)secondary
D)experimental research
E)observational research

Question 56

Which type of research would be best suited for identifying which demographic groups prefer diet soft drinks and why they have this preference?

A)observational research
B)focus group research
C)ethnographic research
D)experimental research
E)descriptive research

Question 57

Your colleague is confused about using the marketing research process,as he knows that something is wrong but is not sure of the specific causes to investigate.He seems to be having problems with ________,which is often the hardest step to take.

A)developing the research plan
B)determining a research approach
C)defining the problem and research objectives
D)selecting a research agency to help
E)implementing the research plan

Question 58

Secondary data consists of information ________.

A)that already exists somewhere but is outdated
B)that does not currently exist in an organised form
C)that already exists somewhere but was collected for another purpose
D)that is used by competitors
E)that the researcher can only obtain through surveys and observation

Question 59

It is most accurate to say that secondary data are ________.

A)collected mostly via surveys
B)expensive to obtain
C)not always very usable
D)never purchased from outside suppliers
E)always necessary to support primary data

Question 60

Data that consists of information collected for the specific purpose at hand is known as ________ data.

Question 61

Experimental research is best suited for gathering ________ information.

A)exploratory
B)causal
C)attitudinal
D)interactive
E)descriptive

Question 62

Focus group interviewing has become one of the major marketing research tools for getting insight into consumer thoughts and feelings.However,if the sample size is small,a researcher would be most concerned about which of the following?

A)finding a representative sample
B)generalising from the results
C)administering the questions
D)orchestrating cooperation among participants
E)finding enough secondary data to support the findings

Question 63

Survey research is LEAST likely to be conducted through which of the following?

A)the Web
B)the mail
C)the telephone
D)observation
E)person-to-person interactions

Question 64

A fast food chain came out with a new hamburger and released it initially in two different cities with two different price points.Its marketers then analysed the different levels of purchases made at the two different price points,planning on using the information to set a nationwide price for the new offering.This is an example of ________.

A)observational research
B)survey research
C)ethnographic research
D)experimental research
E)descriptive research

Question 65

Which of the following is true of ethnographic research?

A)It is conducted within traditional focus groups.
B)It provides fresher and better insight into customer behaviour than traditional approaches do.
C)It provides researchers with secondary data.
D)It is most popular in the service sector.
E)It is a research option when observation is not possible.

Question 66

A marketing analyst is conducting research to determine consumers' personal grooming habits.Because of the personal nature of the survey questions about this topic,she wants to select the contact method that is most likely to encourage respondents to answer honestly.Which contact method should she select?

A)mail questionnaires
B)telephone interviews
C)individual interviews
D)focus group interviews
E)online panels

Question 67

Which of the following is NOT an advantage of Web-based research?

A)speed
B)low costs
C)almost instantaneous results
D)control over who and where the respondents are
E)ease of administration

Question 68

Survey research,though used to obtain many kinds of information in a variety of situations,is the approach best suited for gathering ________ information.

A)interpersonal
B)causal
C)attitudinal
D)descriptive
E)exploratory

Question 69

Ethnographic research ________.

A)comes from traditional focus groups
B)is gathered from people in their 'natural habitat'
C)provides secondary data
D)is most popular in the service sector
E)provides data to marketers when observation is impossible

Question 70

Which of the following is NOT a disadvantage of telephone interviews?

A)They are more expensive to conduct than mail questionnaires.
B)Interviewer bias is introduced.
C)Respondents may be unwilling to answer personal questions.
D)Interviewers may explain or probe more deeply on some questions.
E)Potential respondents may refuse to participate.

Question 71

What is a major drawback of probability sampling?

A)It can be time consuming.
B)Sampling error cannot be measured.
C)The most difficult population from which to obtain information is chosen.
D)Everyone has an equal chance of selection.
E)Marketers must rely on the judgment of the researcher in respondent selection.

Question 72

Which contact method for marketing research is flexible,allows for explanation of difficult questions and lends itself to showing products and advertisements?

A)personal interviewing
B)online interviewing
C)phone interviewing
D)ethnographic research
E)observational research

Question 73

Which of the following is a disadvantage of online focus groups?

A)Participants must be in a central location.
B)The internet format can restrict respondents' expressiveness.
C)Results take longer to tabulate and analyse.
D)The cost of online focus groups is greater than that of most other qualitative research methods.
E)The format of focus groups can be varied.

Question 74

Which method could a marketing researcher use to obtain information that people are unwilling or unable to provide?

A)observational research
B)focus groups
C)personal interviews
D)internet surveys
E)questionnaires

Question 75

Which of the following contact methods is generally the least flexible?

A)telephone interviewing
B)personal interviewing
C)mail questionnaires
D)online surveys
E)online panels

Question 76

For secondary data to be useful to marketers,it must be relevant,current,unbiased and ________.

A)complete
B)accurate
C)inexpensive
D)collected before secondary data
E)experimental

Question 77

The major advantage of survey research is its ________.

A)flexibility
B)interactive design
C)ease of completion
D)understandability
E)simplicity

Question 78

Your assistant wants to use secondary data exclusively for the current marketing research project.You advise him that the use of secondary data has some potential problems.Which of the following is NOT one of them?

A)It may not exist.
B)It may not be relevant.
C)It may not be impartial.
D)It is generally more expensive to obtain than primary data.
E)It may not be current.

Question 79

ABC Company has decided to use mail questionnaires to collect data.Management recognises this method has all the following advantages EXCEPT which one?

A)low cost per respondent
B)more honest answers may be given
C)has an average response rate
D)has no interviewer to bias respondents' answers
E)can collect large amounts of information

Question 80

A major department store sends a trained observer to watch and interact with customers as they shop in store.This is an example of ________.

A)secondary research
B)survey research
C)ethnographic research
D)experimental research
E)descriptive research