Question 1

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 is specifically designed to gather, store, analyze and distribute marketing information to users within a company. It is an ongoing process that supports decision-making and helps managers to identify opportunities, monitor performance and stay updated on trends in the marketplace. Primary and secondary data collection systems are part of a marketing information system, but they do not capture the full scope of its functionality. Competitive intelligence systems may also be part of a marketing information system as they provide insights into competitors and the competitive landscape, but again, they do not capture the full range of functionalities provided by a marketing information system. A marketing research project is a specific undertaking designed to answer a particular question or set of questions, and while it may inform a marketing information system, it is not the same thing.

Question 2

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

Accepted Answer

An intranet is specifically designed for internal corporate communication and uses Internet technology to connect employees, departments, and databases. Social networks are generally used for connecting individuals outside of a corporate environment. Affiliate programs refer to partnerships between companies to promote each other's products. Horizontal user networks refer to social networks that connect individuals with similar interests. Marketing decision support systems are tools used to assist in marketing decision-making.

Question 3

Which of the following statements regarding marketing intelligence is true?

Accepted Answer

Marketing intelligence can be obtained from both publicly available sources and private sources, but most marketing intelligence is publicly available information. This includes things such as industry publications, government reports, and competitor websites.

Question 4

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

Accepted Answer

Nielsen conducts syndicated research, which refers to research conducted by a market research firm on a regular basis and sold to multiple companies. The ratings of TV shows are done regularly and sold to various firms.

Question 5

________ 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 the systematic process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment to improve marketing effectiveness. This involves gathering information about consumer behavior, market trends, and competitor strategies to make informed decisions about marketing initiatives. Marketing research is essential for businesses to understand their target customers, evaluate the effectiveness of their marketing efforts, and make strategic decisions that drive growth and profitability.

Question 6

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.

Question 7

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

The report on consumers' perceptions of performers is an example of syndicated research because a company has already conducted the research and is now selling the report to other companies who are interested in using performers in their advertising.

Question 8

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. This system helps a company stay up-to-date with market trends, consumer behaviors, and competitive activities. Other options, such as a marketing decision support system, marketing management, longitudinal research, and data mining, may involve collecting and analyzing data, but they are not specifically focused on gathering external information about the business environment.

Question 9

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

Accepted Answer

The question relates to the impact of a particular decision on reaching more users of the product, and hence requires a decision support system that can model and predict the outcomes of different scenarios. Such a function is typically provided by an MDSS rather than an MIS.

Question 10

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

Accepted Answer

Causal research is a method of research used to determine cause-and-effect relationships between variables. It is not a source of marketing intelligence, but rather a tool used to gather information through testing and experimentation.

Question 11

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. The other options (internal company data, marketing intelligence, marketing research, and acquired databases) are all commonly used sources of data for an MIS.

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

The general information collected and sold to other firms on a regular basis is known as syndicated research. This type of research is carried out by specialized firms who then sell the information to interested parties.

Question 13

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

Accepted Answer

A marketing decision support system (MDSS) is a sophisticated information system that allows marketing managers to use statistical and modeling software tools to make better-informed decisions. It goes beyond a basic marketing information system (MIS) by providing analytical tools and models to aid in decision-making.

Question 14

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

Accepted Answer

Custom research is research conducted by a single firm to provide specific answers to certain questions. Syndicated research, on the other hand, is research conducted by a third party and sold to multiple clients, while internal data refers to the information a firm collects about its own operations. Consumer data and perceptual tracking are broader concepts that may involve multiple firms or sources of information.

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 a 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.

Question 16

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 involves analyzing large sets of data to discover patterns, trends, and insights. It is a vital tool for businesses to make informed decisions based on the data they collect. Data warehousing is also important, but it involves storing and managing data rather than analyzing it. Prospecting and cold calling are sales techniques, and data tallying is not a commonly used term in data analysis.

Question 17

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

The description provided perfectly matches with the Marketing Information System (MIS) which gathers, sorts, analyzes, and distributes timely and accurate information to marketing decision makers.

Question 18

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

The answer of A marketing manager would most likely use...

Question 19

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 are all examples of internal company data, which refers to data that a company collects and analyzes about its own operations, customers, and performance. This type of data is often used for decision-making and improving business processes.

Question 20

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

Accepted Answer

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

Quiz 3: Marketing Research: Gather, Analyze, and Use Information