The real value of a companys marketing research and information system lies in the

1) Which of the following demonstrates the real value of a company's marketing research and information system?

D) the quality of customer insights it provides

2) The initial function of a marketing information system is ________.

D) assessing the information needs of a company 

3) Which of the following is true of a good marketing information system?

C) It balances the information that a firm wishes to have with the information a firm actually needs. 

4) Diane Chambers, the marketing manager of FarmFresh, collects data from her monthly records of sales, costs, and cash flow. In this case, Diane is making use of ________ databases.

5) Which of the following sources constitutes the internal database of a company?

C) the company's sales records

6) Which of the following is most likely the cheapest and quickest means to collect data for marketing research? 

D) utilizing internal databases to gather sales data 

7) Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose?

C) competitive marketing intelligence 

8) Which of the following statements regarding marketing intelligence is true?

D) Marketing intelligence is the systematic collection and analysis of publicly available information.

9) Haley Computers Inc. has appointed a few employees to sift through customer conversations on online forums and social networking sites regarding products purchased from Haley. These employees are likely to be working as ________.

10) Which of the following is true of competitive marketing intelligence?

D) It can be obtained from information that is available in the public domain.

11) ________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

12) What is the first step in the marketing research process? 

B) defining the problem and research objectives

13) The marketing manager of Appeal Inc. has noticed a sharp decrease in sales over the last two months. The manager decides to conduct marketing research to identify potential causes for the drop in sales. Which of the following should the manager do first?

C) define the problem and objectives

14) What is the last step in the marketing research process?

C) interpreting the findings

15) The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses.

16) Causal research is used to ________.

17) Vernon Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research.

18) Coolers Inc. has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product, Coolers should most likely use ________. 

19) In most marketing research projects, what type of research is conducted first?

20) Brooke's Boutique plans to launch a new clothing line. For this purpose, the firm first conducts a survey to understand its target audience and identify the demographics of potential buyers. It then conducts experimental research to test whether customers associate discounted prices with lower product quality. Which types of research has the boutique employed in this case? 

D) descriptive followed by causal

21) Which of the following is the second step of the marketing research process? 

B) developing the research plan

22) ________ data consist of information collected for the specific purpose at hand.

23) Which of the following is an advantage of primary data?

D) They are more relevant than secondary data.

24) Information collected from online databases on the Internet is an example of ________ data.

25) Which of the following methods should a marketing researcher use to obtain information that people are unwilling or unable to provide?

A) observational research

26) Which of the following is a quantitative approach to research?

27) Ethnographic research is ________.

B) conducted in settings where people live and work

28) A company that sells personal care products sends a trained observer to watch potential buyers in their natural environments. This is an example of ________ research.

29) Ethnographic research essentially involves ________.

B) observation and interaction

30) ________ is a method of gathering primary data that involves asking people questions about their knowledge, attitudes, preferences, and buying behavior.

31) Which of the following is an example of ethnographic research?

D) A researcher at Louis Inc. visits customers' homes to observe their daily routines. 

32) Which of the following is true of survey research?

A) It is the most widely used method for gathering primary data.

33) A major advantage of a mail survey is that it ________.

D) eliminates interviewer bias 

34) Experimental research is best suited for gathering ________ information.

35) A(n) ________ is best suited for exploratory research.

36) ________ is best suited for descriptive research.

37) A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar manner, but one has natural herbs for flavoring, and the other has artificial flavors. This is an example of ________. 

38) Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________.

39) Kathy Jenkins is planning to conduct research on consumers' personal care routines. Since the questions are likely to be personal and sensitive, Kathy wants to select a contact method that will encourage respondents to answer honestly. Which of the following contact methods is most likely to serve Kathy's purpose?

40) Which of the following contact methods is flexible, allows for explanation of difficult questions, and lends itself to demonstrating products?

41) Which of the following is true of focus group discussions?

E) Consumers are not always honest and open about their opinions.

42) ________ are small groups of consumers who interact directly and informally with product designers without a moderator.

43) In which of the following research methods does the sample size have little impact on costs?

D) Internet-based surveys

44) Erica Jenson has a limited budget to conduct a market research. Which of the following research approaches would provide Erica with the most cost-effective way to reach a large number of respondents in a short period?

C) Internet-based surveys

45) Which of the following is a disadvantage of online focus groups?

B) Determining the identity of people who constitute an online sample is difficult.

46) Which of the following is a structured method of online research where marketers require direct responses from customers?

47) Which of the following is a quantitative Internet-based research approach?

48) Harmon, a nationwide department store, uses checkout scanners to record shoppers' purchases. Which term best describes Harmon's checkout scanners?

49) What are the two main types of research instruments used to collect primary data?

B) questionnaires and mechanical devices 

50) The most common research instrument, whether administered in person, by phone, by e-mail, or online, is the ________.

51) Which of the following is true of question formats in questionnaires?

E) Open-end questions are useful in exploratory research to find out what people think.

52) After a research instrument is selected, the next step in the marketing research process is ________.

C) implementing the research plan

53) A firm has a huge amount of individual customer data saved in different databases. Which of the following can be used to integrate, analyze, and apply the available information effectively?

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

D) It consists of sophisticated software and analytical tools.

55) In CRM, ________ is the technique that helps researchers sift through mounds of detailed customer information and dig out interesting findings about customers. 

56) Suppliers and resellers can update their accounts, arrange purchases, and check orders against inventories through ________.

57) A firm uses a small convenience sample to gather data on customer reactions. It invites a small group of customers for lunch and asks them to share what they think about the products they have purchased from the firm. This is an example of ________.

58) Which of the following would most likely use informal research methods to obtain marketing insights?

D) not-for-profit organizations

59) Which of the following statements is true of international marketing research?

D) Language translation in international marketing research typically increases costs and raises the risk of errors. 

60) Vincent Cosmetics decides to launch a cream with a claim that it made skin "nine times smoother." The claim is based on a study of thirty respondents who used products of other brands as well. However, a second study on a larger sample reveals only a mild correlation between the use of the cream and smoother skin. In these circumstances, which of the following is the most ethical approach that Vincent Cosmetics can follow?

C) It should report the result as it is, or improve the product to match its claim. 

61) Customer needs and buying motives are usually overtly evident to marketers.

62) An effective MIS assesses information needs, develops needed information, and distributes the information to help managers with decision making.

63) When managers glean information from their company's accounting and sales records stored in the computer, they are using an internal database.

64) Internal databases usually are more expensive to use than other market information sources.

65) Keeping the database current requires dedicated resources because data ages quickly.

66) Secondary data consist of information collected for the specific purpose at hand.

67) Marketing research is the systematic design, collection, analysis, and reporting of data directly relevant to a specific marketing situation facing an organization.

68) Once the research problems and objectives have been defined, researchers must determine the exact information needed.

69) The objective of exploratory research is to test hypotheses about cause-and-effect relationships.

70) The primary objective of causal research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product. 

71) Marketing researchers can conduct their own searches of secondary data sources by using commercial online databases.

72) Primary data can usually be obtained more quickly and at a lower cost than secondary data.

73) Experimental research is a form of ethnographic research.

74) Observational research is the most widely used method of primary data collection.

75) Survey research is best suited for gathering descriptive information. 

76) The response rate in mail surveys is often very low.

77) The Internet is especially well suited to qualitative research.

78) The most important issue facing online researchers in the United States is the lack of a broad cross section of consumers who have access to the Internet.

79) Ideally, a sample should be representative so that a researcher can make accurate estimates of the thoughts and behaviors of the larger population.

80) A researcher who wants to calculate confidence limits for sampling error would use nonprobability samples.

81) The questionnaire is the most common research instrument.

82) In a convenience sample, a researcher selects the easiest population members from whom to obtain information.

83) An Internet-based survey is an example of a mechanical instrument used in marketing research.

84) Neuromarketing techniques provide easy-to-interpret data that allow researchers to analyze consumer involvement with products.

85) CRM analysts develop data warehouses and use sophisticated data mining techniques to unearth patterns in customer data.

Where does the real value of a company's marketing research and information system lies?

What is the value of marketing information?

What is the marketing information system of a company?

What is the importance of research and information systems in marketing?