Question 1

What are the steps of the marketing research process? How do companies conduct research?

Accepted Answer

The marketing research process involves ...

Question 2

For marketing information to have value, it must be available to decision makers. This may include non-routine information for special situations. Companies frequently use ________ in these instances.

Accepted Answer

A)   e-mail messages
B)   computer extranets
C)   company intranet and internal CRM systems
D)   scanned documents and faxes
E)   video conferences

Question 3

Which of the following is true about customer relationship management (CRM) ?

Accepted Answer

A)   Data mining has limited applicability in CRM activities.
B)   Sophisticated analytical tools are sparingly used in CRM activities.
C)   CRM reduces the number of customer touch points.
D)   CRM aims to maximize customer loyalty.
E)   CRM enables firms to compare various product and service categories.

Question 4

Which of the following is NOT a method of gathering good marketing intelligence?

Accepted Answer

A)   sending out teams of trained observers to mingle with customers
B)   interviewing competitors' employees to learn as much "inside information" as possible
C)   setting up digital centers that monitor brand-related online consumer and marketplace activity
D)   purchasing merchandise from competing sites to analyze and compare their assortment, speed, and service quality
E)   searching specific competitor names, events, or trends to see what comes up

Question 5

Which of the following is an advantage of telephone interviews?

Accepted Answer

A)   They are more cost-effective than mail questionnaires.
B)   Interviewer bias is absent.
C)   The quantity of data collected is greater compared to personal interviewing.
D)   The speed with which data is collected is high.
E)   Response rates tend to be higher than those of mail questionnaires.

Question 6

Most major companies have now appointed a chief privacy officer (CPO), whose job is to safeguard the privacy of the companies in the international business environment.

Accepted Answer

A) True 
 B)False

Question 7

While collecting sensitive customer data, market researchers should adhere to all of the following guidelines EXCEPT ________.

Accepted Answer

A)   asking only for the information needed
B)   using information responsibly to provide value
C)   providing respondents with the research firm's contact information
D)   sharing information without the customer's authorization
E)   explaining to respondents how the information will be used

Question 8

Which of the following is a disadvantage of using secondary data?

Accepted Answer

A)   Secondary data is generally not appropriate for consumer products.
B)   Collecting secondary data is time consuming.
C)   Few sources exist for secondary data.
D)   Gathering secondary data is costly.
E)   Relevant secondary data can be difficult to locate.

Question 9

External databases are electronic collections of consumer and market information obtained from data sources within a company's network.

Accepted Answer

A) True 
 B)False

Question 10

Primary data consist of ________.

Accepted Answer

A)   data that does not age
B)   data obtained from the public domain
C)   information collected for the specific purpose at hand
D)   information that already exists somewhere, having been collected for another purpose
E)   information that is the least expensive and the easiest to obtain

Question 11

For her current research project, Margaret Rogers wants to select a sample in which every member has a known and equal chance of selection. In other words, Margaret is looking for a ________.

Accepted Answer

A)   simple random sample
B)   convenience sample
C)   stratified random sample
D)   judgment sample
E)   quota sample

Question 12

The marketing department of a reputable firm wants to improve strategic decision making, track the actions of other players in the market, and provide early warning of opportunities and threats. Which of the following would help the firm achieve its objectives?

Accepted Answer

A)   ethnographic research
B)   strategic planning
C)   data warehousing
D)   competitive marketing intelligence
E)   customer relationship management

Question 13

How can a company manage information on specific customers more effectively?

Accepted Answer

Many companies are now turning to custom...

Question 14

Personal interviews can be used to collect large amounts of information at a low cost per respondent.

Accepted Answer

A) True 
 B)False

Question 15

________ involves gathering primary data by asking people questions about their knowledge, attitudes, preferences, or buying behavior. It is the most widely used method for primary data collection.

Accepted Answer

A)   Experimental research
B)   Causal research
C)   Ethnographic research
D)   Survey research
E)   Exploratory research

Question 16

A good marketing information system balances the information users ________ to have against what they ________ and what is ________ to offer.

Accepted Answer

A)   request; want; affordable
B)   demand; should request; time-efficient
C)   want; are unaware of; the newest technology
D)   would like; need; feasible
E)   don't need; can afford; available

Question 17

Briefly compare the different types of research approaches for gathering primary data.

Accepted Answer

Research approaches for gathering primar...

Question 18

Which of the following refers to a marketing intelligence technique?

Accepted Answer

A)   interviewing customers randomly
B)   increasing the annual budget for R&D
C)   investing heavily in primary research
D)   implementing product diversification
E)   benchmarking competitors' products

Question 19

Consumers who mistrust marketing research are more likely to ________.

Accepted Answer

A)   consider marketing research initiatives as genuine endeavors aimed at heightening customer satisfaction
B)   believe that marketers rarely use personal data to manipulate consumer behavior
C)   believe that the misuse of research findings is highly unlikely
D)   consider marketing research efforts, such as interviewing, intrusions on consumer privacy
E)   feel positive about being personally interviewed by marketers

Question 20

To overcome problems in focus group interviewing, some companies employ small groups of consumers who interact directly and informally with product designers without a focus group moderator present. Such groups are known as ________.

Accepted Answer

A)   classes
B)   consumer guilds
C)   virtual communities
D)   immersion groups
E)   primary groups

Exam 4: Managing Marketing Information to Gain Customer Insights

A good marketing information system balances the information users ________ to have against what they ________ and what is ________ to offer.

Correct AnswerverifiedShow Answer

Primary data consist of ________.

Correct AnswerverifiedShow Answer

Personal interviews can be used to collect large amounts of information at a low cost per respondent.

Correct AnswerverifiedShow Answer

Which of the following refers to a marketing intelligence technique?

Correct AnswerverifiedShow Answer

While collecting sensitive customer data, market researchers should adhere to all of the following guidelines EXCEPT ________.

Correct AnswerverifiedShow Answer

Consumers who mistrust marketing research are more likely to ________.

Correct AnswerverifiedShow Answer

Most major companies have now appointed a chief privacy officer (CPO), whose job is to safeguard the privacy of the companies in the international business environment.

Correct AnswerverifiedShow Answer

For her current research project, Margaret Rogers wants to select a sample in which every member has a known and equal chance of selection. In other words, Margaret is looking for a ________.

Correct AnswerverifiedShow Answer

External databases are electronic collections of consumer and market information obtained from data sources within a company's network.

Correct AnswerverifiedShow Answer

What are the steps of the marketing research process? How do companies conduct research?

Correct AnswerverifiedThe marketing research process involves ...View AnswerShow Answer

Which of the following is a disadvantage of using secondary data?

Correct AnswerverifiedShow Answer

Which of the following is NOT a method of gathering good marketing intelligence?

Correct AnswerverifiedShow Answer

________ involves gathering primary data by asking people questions about their knowledge, attitudes, preferences, or buying behavior. It is the most widely used method for primary data collection.

Correct AnswerverifiedShow Answer

Which of the following is true about customer relationship management (CRM) ?

Correct AnswerverifiedShow Answer

The marketing department of a reputable firm wants to improve strategic decision making, track the actions of other players in the market, and provide early warning of opportunities and threats. Which of the following would help the firm achieve its objectives?

Correct AnswerverifiedShow Answer

How can a company manage information on specific customers more effectively?

Correct AnswerverifiedMany companies are now turning to custom...View AnswerShow Answer

Which of the following is an advantage of telephone interviews?

Correct AnswerverifiedShow Answer

To overcome problems in focus group interviewing, some companies employ small groups of consumers who interact directly and informally with product designers without a focus group moderator present. Such groups are known as ________.

Correct AnswerverifiedShow Answer

Briefly compare the different types of research approaches for gathering primary data.

Correct AnswerverifiedResearch approaches for gathering primar...View AnswerShow Answer

For marketing information to have value, it must be available to decision makers. This may include non-routine information for special situations. Companies frequently use ________ in these instances.

Correct AnswerverifiedShow Answer

A good marketing information system balances the information users to have against what they and what is to offer.

Correct Answer
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The marketing research process involves ...
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Many companies are now turning to custom...
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Research approaches for gathering primar...
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