Deck 3: Note : Customer Assessment - Trends and Insights

Question 1

________ identifies the relationships between variables that predict or cause some target variable.

A) Judgment-based forecasting
B) Trend extrapolation
C) Regression analysis
D) Curve fitting

Answer 1

C

Question 2

The process through which analysts sift through massive amounts of available information to identify unique patterns of behavior among different customer groups is called ________.

A) data warehousing
B) causal modeling
C) data mining
D) futuring

Answer 2

C

Question 3

Moen used the ________ research method when the firm interviewed participants about their shower experiences and observed participants taking showers.

A) projective
B) laddering
C) ethnographic
D) total immersion

Answer 3

C

Question 4

________ is a time-consuming customer insight method that generates qualitative data that is difficult to manage and generalize to larger populations.

A) Total immersion
B) Depth interviews
C) Sentence completion
D) Ethnographic research

Question 5

All of the following would most likely be identified through customer assessment EXCEPT ________.

A) customer insights
B) customer segments
C) trends in customer needs
D) trends in customer demands

Question 6

Which term refers to the broad,wide-ranging,and exploratory scrutiny of customers and their needs?

A) customer assessment
B) customer positioning
C) customer-oriented metrics
D) customer relationship management

Question 7

What two parties interact in the total immersion method?

A) customers and executives
B) employees and customers
C) customers and researchers
D) researchers and executives

Question 8

Cool-hunting is a type of judgment-based forecasting method that involves studying fashion,lifestyles,and contemporary culture.

Question 9

Which of the following is a true statement about trends?

A) They are short-term shifts based on popular culture.
B) They represent significant market opportunities.
C) They are based only on demographic statistics.
D) They cannot be quantified for marketing purposes.

Question 10

Which term refers to the series of activities involved in extracting value from a product or service?

A) situation assessment
B) trend extrapolation
C) customer value chain
D) cross-impact matrix

Question 11

How can marketers identify marketplace trends? Discuss the various methods available for identifying trends.

Question 12

Econometric and judgment-based forecasting methods typically project trends five to six years into the future.

Question 13

Customer assessment focuses on addressing specific issues raised by customers and potential customers,and it is best implemented with a clear hypothesis or theory.

Question 14

Futuring relies on the idea that the future is ________.

A) uncertain
B) predictable
C) quantitative
D) similar to the past

Question 15

Which of the following is NOT a common characteristic of a lead user?

A) They have ideas for solving product issues.
B) They share product ideas through netnography.
C) They realize product needs before the mass market.
D) They believe strongly in the products they help develop.

Question 16

Curve fitting methods are most likely popular with managers and forecasters because such methods ________.

A) require few data points
B) predict dependent variables
C) focus on demographic elements
D) rely on customer quality reports

Question 17

What is the first step to finding new markets?

A) mining market data
B) evaluating cultural fads
C) creating a marketing mix
D) identifying customer insights

Question 18

MECCAs help organize customer insight information gathered through ethnographic research.