Question 1

One challenge of using CRM is:

Accepted Answer

Integrating data into customer relationship is a challenge when using CRM as it involves collecting and consolidating data from multiple sources, such as social media, customer service, and sales. Without integration, the data may be incomplete and unreliable, making it difficult to effectively manage customer relationships. Knowing the amount paid by consumers in different countries, assessing the use of credit cards for payment or knowing the use of laptop computers by customers, while potentially useful information, are not necessarily challenges in implementing CRM. Understanding which customers are most valuable is a core objective of CRM and not a challenge.

Question 2

When using a "projective technique," the researcher presents close-ended or ambiguous stimuli to a subject in a focus group.

Accepted Answer

A projective technique is a qualitative research method in which the researcher presents open-ended or ambiguous stimuli to a subject in order to elicit unconscious or repressed thoughts, feelings, and attitudes. This allows the researcher to gain insights into the subject's perceptions, beliefs, and motivations, which may not be revealed through direct questioning or standardized surveys. Close-ended stimuli, which have predetermined response options, would not be appropriate for a projective technique.

Question 3

It is difficult to obtain a representative sample in Brazil since the technological infrastructure for gathering market data is minimal.

Accepted Answer

The answer of It is difficult to obtain a representative...

Question 4

CRM tools allow companies such as Credit Suisse,AT&T,Hewlett-Packard and others to determine:

Accepted Answer

CRM tools are used to analyze customer data to determine which customers are most valuable to a company. They can help identify high-value customers, as well as opportunities for cross-selling and up-selling.

Question 5

Which of the following can be defined as a business philosophy that values two-way communication between a company and individual customers?

Accepted Answer

CRM (Customer Relationship Management) is a business philosophy and set of strategies focused on building strong, long-lasting relationships with customers. It values two-way communication between a company and individual customers, with the goal of improving customer satisfaction, loyalty, and retention. ECR (Efficient Consumer Response), EDI (Electronic Data Interchange), EPOS (Electronic Point of Sale), and BOLD (Business Objectives and Learning Development) are all different concepts that do not specifically focus on two-way communication with individual customers.

Question 6

Japan is Coach's second largest market,representing about 20% of global sales.All of the following statements are true regarding the market for Coach's products compared to that in America except:

Accepted Answer

The answer of Japan is Coach's second largest market,representing about...

Question 7

In global marketing research,it is important to establish scalar equivalence when obtaining information from different countries.

Accepted Answer

Scalar equivalence ensures that the measurements used in research are perceived in the same way across different countries, making it important for obtaining reliable and accurate data in global marketing research.

Question 8

An ________ is a company's private data network,accessible only by authorized persons inside the organization.

Accepted Answer

An intranet is a company's private data network, accessible only by authorized persons inside the organization. EDI (Electronic Data Interchange) is a standard format for exchanging business documents electronically, while the internet is a global network of connected computers. EPOS (Electronic Point of Sale) and ECR (Electronic Cash Register) both refer to electronic systems used for processing retail transactions and are not relevant to the question at hand.

Question 9

"Back translation" is a technique used to ensure that currency conversion is performed correctly when financial statements of foreign subsidiaries are consolidated with financial statements at headquarters.

Accepted Answer

Back translation is a technique used to ensure that translation of financial statements from a foreign currency to the reporting currency is performed correctly when preparing the consolidated financial statements. It is not related to currency conversion.

Question 10

CRM tools allow companies such as Credit Suisse,AT&T,Hewlett-Packard and others to determine:

Accepted Answer

CRM tools allow companies to analyze customer data and behavior to determine which customers are most valuable to their business. This information can then be used to tailor marketing strategies and improve customer satisfaction. The other options listed are not directly related to the capabilities of a CRM tool.

Question 11

If interaction between two variables is desired,factor analysis can be used to transform large amounts of data into manageable units.

Accepted Answer

Factor analysis is a statistical technique used to identify patterns among variables within large datasets, and is not specifically used to analyze interaction between variables. It focuses on identifying underlying factors that explain the variation in the data.

Question 12

Which of the following is an IT tool designed specifically to help retailers work more closely with vendors on stock replenishment?

Accepted Answer

ECR (Efficient Consumer Response) is an IT tool designed specifically to help retailers work more closely with vendors on stock replenishment. It allows for real-time sharing of sales data and inventory levels between retailers and vendors, which can help to improve the efficiency of the supply chain and reduce inventory costs. The other options are not specifically related to retail-vendor collaboration on stock replenishment.

Question 13

It will be convenient to do a telephone survey in rural areas in China since,according to the Ministry of Information Industry reports,40% of households have at least one fixed-line telephone.

Accepted Answer

The answer of It will be convenient to do a...

Question 14

In global marketing research,the results of a nonprobability sample can be projected with statistical reliability.

Accepted Answer

Nonprobability sampling methods do not involve random selection and, as a result, the conclusions drawn from such samples cannot be projected to the entire population with statistical reliability. Therefore, the results of a nonprobability sample cannot be considered representative of the entire population.

Question 15

When research shows that Burberry and Ferragamo are perceived as the most similar by consumers while Coach and Dior are the farthest apart,researchers can interpret the results to show which brands are in direct competition.

Accepted Answer

True, because Burberry and Ferragamo are perceived as the most similar, they are likely in direct competition for consumers who prefer that style. Similarly, Coach and Dior being perceived as the farthest apart indicates that they have less competition for the same group of consumers.

Question 16

"Back translation" is a technique whereby a survey or other document that has been translated is returned (i.e."sent back")to the translator for corrections.

Accepted Answer

Back-translation is a process where a text that has been translated into another language is then translated back into the original language by a second, independent translator to check for accuracy and consistency.

Question 17

Direct sensory perception provides a vital background for the information that comes from human and documentary sources since:

Accepted Answer

Direct sensory perception, as the name implies, involves firsthand experiencing through the senses. This provides an accurate, unbiased, and unfiltered perception of the situation or environment. This information serves as a crucial background to understand and analyze the data obtained from human and documentary sources. Hence, choice C is the correct answer. Choices A, B, D, and E are incorrect statements as they do not accurately describe the role of direct sensory perception in data collection and analysis.

Question 18

An ________ system allows a company's business units to submit orders,issue invoices,and conduct business electronically with other company units as well as outside companies.

Accepted Answer

The EDI (Electronic Data Interchange) system allows businesses to exchange electronic documents such as purchase orders, invoices, and shipment notices with their trading partners. EDI enables an efficient and secure exchange of information between different companies and business units. The other options do not specifically refer to systems that facilitate electronic business transactions and data exchange.

Question 19

A marketer of breakfast cereals might send researchers to preselected households at 6 a.m.to watch families go about their morning routines.

Accepted Answer

This is a possible method of conducting ethnographic research to gain insights into consumers' breakfast habits and preferences.

Question 20

One of the key advantages of an EDI (Electronic Data Interchange)system is:

Accepted Answer

The transaction formats used in EDI systems are standardized and universal, which means that businesses can exchange information with each other regardless of their technological infrastructure or software. This improves efficiency and reduces errors in data exchange.

Quiz 6: Global Information Systems and Market Research

One challenge of using CRM is:

When using a "projective technique," the researcher presents close-ended or ambiguous stimuli to a subject in a focus group.

It is difficult to obtain a representative sample in Brazil since the technological infrastructure for gathering market data is minimal.

CRM tools allow companies such as Credit Suisse,AT&T,Hewlett-Packard and others to determine:

Which of the following can be defined as a business philosophy that values two-way communication between a company and individual customers?

Japan is Coach's second largest market,representing about 20% of global sales.All of the following statements are true regarding the market for Coach's products compared to that in America except:

In global marketing research,it is important to establish scalar equivalence when obtaining information from different countries.

An ________ is a company's private data network,accessible only by authorized persons inside the organization.

"Back translation" is a technique used to ensure that currency conversion is performed correctly when financial statements of foreign subsidiaries are consolidated with financial statements at headquarters.

CRM tools allow companies such as Credit Suisse,AT&T,Hewlett-Packard and others to determine:

If interaction between two variables is desired,factor analysis can be used to transform large amounts of data into manageable units.

Which of the following is an IT tool designed specifically to help retailers work more closely with vendors on stock replenishment?

It will be convenient to do a telephone survey in rural areas in China since,according to the Ministry of Information Industry reports,40% of households have at least one fixed-line telephone.

In global marketing research,the results of a nonprobability sample can be projected with statistical reliability.

When research shows that Burberry and Ferragamo are perceived as the most similar by consumers while Coach and Dior are the farthest apart,researchers can interpret the results to show which brands are in direct competition.

"Back translation" is a technique whereby a survey or other document that has been translated is returned (i.e."sent back")to the translator for corrections.

Direct sensory perception provides a vital background for the information that comes from human and documentary sources since:

An ________ system allows a company's business units to submit orders,issue invoices,and conduct business electronically with other company units as well as outside companies.

A marketer of breakfast cereals might send researchers to preselected households at 6 a.m.to watch families go about their morning routines.

One of the key advantages of an EDI (Electronic Data Interchange) system is: