Question 1

Frito-Lay's ________ gathers daily sales data and sorts it by product line and by region.The marketing managers use the data to evaluate the market share of different Frito-Lay products compared to one another and to competing snack foods in each region where the company does business.

Accepted Answer

Based on the information provided, Frito-Lay's system for gathering sales data and using it to evaluate market share is best described as a marketing information system (MIS). The MIS is used to collect and process data from internal and external sources, and to provide reports and analysis to support decision making by Frito-Lay's marketing managers. Choices A, B, C, and E are not as accurate as D in describing the type of system used by Frito-Lay.

Question 2

A marketing decision support system (MDSS)is a(n)________.

Accepted Answer

A marketing decision support system (MDSS) is a sophisticated system that uses statistical and modeling software tools to provide marketing managers with information they need to make strategic decisions. It is not a basic system, syndicated research report, custom research report, or a data warehouse used to support a marketing information system.

Question 3

A ________ is a process that determines what information marketing managers need and then gathers,sorts,analyzes,stores,and distributes relevant and timely marketing information to users.

Accepted Answer

A marketing information system (MIS) is a process that gathers, sorts, analyzes, stores and distributes relevant and timely marketing information to users. MIS helps marketing managers make informed decisions by providing information on customers, competitors, and the marketplace. A MIS uses both primary and secondary data collection systems and competitive intelligence to gather the required information. A marketing research project, on the other hand, is a specific initiative undertaken to collect new primary data for a particular marketing problem or situation.

Question 4

A(n)________ can use multidimensional scaling to create perceptual maps.

Accepted Answer

The answer of A(n)________ can use multidimensional scaling to create...

Question 5

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

Accepted Answer

Causal research is not considered a source of marketing intelligence. Causal research is a method of research used to establish whether one variable causes another variable. Other options (distributors, industry trade publications, customers, and activities of competitors) are all sources of marketing intelligence.

Question 6

Which of the following statements regarding marketing intelligence is true?

Accepted Answer

Marketing intelligence is information that is gathered from publicly available sources such as government statistics, news articles, market research reports, and competitor websites. While some information may be privately held, the majority of marketing intelligence is publicly available. Companies collect marketing intelligence on an ongoing basis, not just annually or semi-annually. Marketing intelligence gathering includes gaining insights into both consumer and competitor activities. Therefore, option D is the correct answer.

Question 7

A marketing manager would most likely use which of the following to find out how many consumers stay with his brand and how many switch,and thus project market shares over time?

Accepted Answer

Modeling software can be used to analyze consumer behavior over time, including brand loyalty and switching, to project market shares.

Question 8

To take advantage of the massive amount of data now available,sophisticated analysis techniques called ________ are becoming a priority for many firms.

Accepted Answer

Data mining is the process of using statistical analysis and machine learning algorithms to extract insights from large data sets. This allows companies to make data-driven decisions and gain a competitive advantage in their industry. Data warehousing is the process of storing large amounts of data in a centralized location, but does not involve analysis techniques like data mining. Prospecting and cold calling refer to sales and marketing techniques, while data tallying is a general term for counting and summarizing data.

Question 9

Which of the following is the method by which marketers collect available information about what is going on in the world that is relevant to their business?

Accepted Answer

A marketing intelligence system is the method by which marketers collect available information about what is going on in the world that is relevant to their business. It involves gathering information from a variety of sources, such as media outlets, government reports, and market research reports, and analyzing this data to gain insights into market trends and opportunities. A marketing decision support system, on the other hand, is a software tool that helps marketers to analyze data and make informed decisions about their marketing strategies. Longitudinal research involves collecting data from the same group of individuals over an extended period of time, while data mining is the process of analyzing large amounts of data to uncover patterns and insights. Marketing management refers to the process of planning, implementing, and controlling the marketing activities of a business.

Question 10

A(n)________ is an internal corporate communication network that uses Internet technology to link company departments,employees,and databases.

Accepted Answer

An intranet is a private network that uses Internet technology to connect internal company departments, employees, and databases. It's a closed communication network that's only accessible to authorized personnel within an organization, allowing them to securely share information, collaborate, and work together more efficiently. Intranets are commonly used for communication, file sharing, workflow management, and other internal applications.

Question 11

Data such as which of a company's customers buy which products,which items the company has in stock,and when the company ships items to its customer are all examples of ________.

Accepted Answer

The data mentioned in the question all pertain to the internal workings of a company, such as customer purchases, inventory, and shipping schedules. Therefore, the best choice is E - internal company data.

Question 12

Which of the following is general information collected by specialized firms on a regular basis and then sold to other firms?

Accepted Answer

Syndicated research is a type of market research where specialized firms collect general information on a regular basis, such as consumer behavior, and then sell that information to other firms. Custom research, competitive research, perceptual tracking, and marketing decision support research are all types of market research but do not necessarily involve the sale of information to other firms.

Question 13

Which of the following is a question that a marketing manager would use an MDSS rather than an MIS to answer?

Accepted Answer

An MDSS (Marketing Decision Support System) is specifically designed to answer questions related to marketing decisions, such as forecasting sales based on changes in marketing variables. Option D is the only question that is focused on making a marketing decision based on changing the media schedule. The other options are better suited for an MIS (Management Information System) which provides information for planning and controlling operations within an organization.

Question 14

________ is the process of collecting,analyzing,and interpreting data about customers,competitors,and the business environment to improve marketing effectiveness.

Accepted Answer

Marketing research is defined as the process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment to improve marketing effectiveness. This involves gathering relevant information, applying analytical and statistical tools to decipher the data, and drawing insights and recommendations to guide marketing decisions. Marketing research helps organizations understand customer needs and preferences, identify market opportunities, evaluate the effectiveness of marketing programs, and monitor industry trends and competitive dynamics.

Question 15

Managers at a discount retailer's headquarters would use which of the following to access up-to-the-minute sales information obtained from the store's cash registers around the country in order to detect problems with products,promotions,and even the firm's distribution system?

Accepted Answer

Managers at the discount retailer's headquarters would use a company intranet to access up-to-the-minute sales information obtained from the store's cash registers around the country in order to detect problems with products, promotions, and even the firm's distribution system. This is because a company intranet is a private network that is only accessible by employees and provides quick and secure access to information within an organization.

Question 16

Which of the following is NOT a major data source for a marketing information system (MIS)?

Accepted Answer

Modeling software is not a major data source for a marketing information system, as it is a tool used to analyze and interpret data collected from other sources such as internal company data, marketing intelligence, marketing research, and acquired databases.

Question 17

Nielsen compiles ratings of television shows and then sells the information to many firms.Nielsen conducts ________.

Accepted Answer

Nielsen conducts syndicated research, which involves collecting data on a regular basis and selling it to multiple companies.

Question 18

A company reports on consumers' perceptions of more than 1,700 performers for companies that are interested in using a performer in their advertising.This type of report is an example of ________.

Accepted Answer

This is an example of syndicated research because the company has already conducted research on the performers and is now offering this report to other companies who are interested in using a performer in their advertising.

Question 19

________ is research a single firm conducts to provide answers to specific questions.

Accepted Answer

Custom research is specifically designed research conducted by a single firm to provide answers to specific questions. Syndicated research, on the other hand, is research conducted by a third-party vendor and sold to multiple firms. Consumer data, perceptual tracking, and internal data are not specific types of research conducted by a single firm.

Question 20

Which of the following lists the three important components of a basic marketing information system (MIS)?

Accepted Answer

The three important components of a basic marketing information system (MIS) are data, computer hardware and software, and output for marketing decision makers. These components allow for the collection, analysis, and dissemination of information to support marketing decision-making processes.

Quiz 4: Marketing Research: Gather, analyze, and Use Information