Marketing Chap 4 Quiz

Ch 4 Q1: When marketers want to know what will happen to a product's demand when they raise prices by 20%, they would probably use ________. A) exploratory research B) causal research C) descriptive research D) experimental research E) on-site research

B) causal research

Ch 4 Q2: How did the COVID-19 pandemic affect marketing research? A) Marketing research stopped completely since firms were trying to reduce costs. B) Focus groups became more prominent since so many people were unemployed. C) Social distancing concerns pushed marketing research more toward digital data collection and insights tools. D) Consumer buying patterns changed dramatically so firms spent massive amounts of money on marketing research trying to determine the new norm. E) Marketing research was not needed since consumers shifted to online buying.

C) Social distancing concerns pushed marketing research more toward digital data collection and insights tools.

Ch 4 Q3: Which of the following statements about big data is correct? A) Big data actually refers to very small data sets. B) Big data is very important because marketers today need more information to make good decisions. C) Analyzing big data will always lead to useful customer insights. D) One result of big data is that marketing managers are often overloaded with information. E) Analyzing big data is a very easy task.

D) One result of big data is that marketing managers are often overloaded with information.

Ch 4 Q4: To develop needed information, marketing information ecosystems utilize __________. A) internal databases, big data, and market research B) marketing managers, information users, and internal databases C) internal databases, marketing research, and marketing managers D) marketing intelligence, marketing research, and the marketing environment E) internal databases, marketing intelligence, and marketing research

E) internal databases, marketing intelligence, and marketing research

Ch 4 Q5: Which one of the following statements about marketing research in small businesses and nonprofit organizations is correct? A) Only large companies can afford to conduct marketing research. B) Small companies and nonprofits do not need marketing information. C) Good research requires large sample sizes which are not feasible for small businesses and nonprofits. D) The research methods of small businesses and nonprofits are less complex and less costly, but they still must be conducted carefully. E) Surveys are the only research approach that can be effectively used by small businesses and nonprofits.

D) The research methods of small businesses and nonprofits are less complex and less costly, but they still must be conducted carefully.

Ch 4 Q6: Using marketing information to gain customer insights is of little value unless __________. A) it comes exclusively from big data B) marketers gather as much information as possible C) it is obtained as cheaply as possible D) it increases company profits E) it is used to make better marketing decisions

E) it is used to make better marketing decisions

Ch 4 Q7: To learn more about the relationships and patterns contained in the vast amounts of data they collect, marketers use __________. A) marketing analytics B) big insights C) customer relationship management D) touch points E) big data analytics

A) marketing analytics

Ch 4 Q8: Which of these statements about marketing information is correct? A) Most marketers know their customers and marketing information simply validates their beliefs. B) New customer insights are rarely obtained from additional marketing information. C) The cost of obtaining, analyzing, storing, and maintaining marketing information can add up rapidly. D) Marketing information is gathered from the internet and social media at very little cost. E) You can never have too much information about your customers and markets.

C) The cost of obtaining, analyzing, storing, and maintaining marketing information can add up rapidly.

Ch 4 Q9: Which of these statements about conducting market research in a foreign market is correct? A) Secondary data is often difficult to find. B) English is the universal language of business so translation services are not necessary. C) Firms can use U.S. marketing research since most countries have been "Americanized." D) Most foreign markets have multiple firms that specialize in conducting market research. E) Foreign markets do not differ much from domestic markets.

A) Secondary data is often difficult to find.

Ch 4 Q10: Which type of research is used for gathering preliminary information that will help further define the research questions? A) Ethnographic research B) Descriptive research C) Experimental research D) Causal research E) Exploratory research

E) Exploratory research

Ch 4 Q11: What is the primary role of marketing analytics? A) To collect more data via electronic means B) To contact consumers to get their feedback on new products C) To determine the costs associated with conducting marketing research D) To find ethical ways to collect additional private information E) To gain insights from big data

E) To gain insights from big data

Ch 4 Q12: Which of the following is an advantage to using internal databases for information? A) Internal information is accurate and complete. B) Internal information sources are easy to manage. C) Internal information is in a form that is useful for making marketing decisions. D) The information stored in internal databases is always current. E) They can be accessed quickly and cheaply.

E) They can be accessed quickly and cheaply.

Ch 4 Q13: You and seven other people are talking with a trained moderator about your feelings and thoughts about a potential new product. For doing this you receive a small payment. You are participating in a(n) __________. A) focus group interview B) experiment C) immersion group D) individual interview E) ethnographic study

A) focus group interview

Ch 4 Q14: For a marketing information ecosystem to be effective it must balance the information users want with ________. A) the number of users with access to the platform B) what they need and what is feasible to offer C) the information that customers would like to have D) the high cost of collecting marketing information E) the firm's current marketing infrastructure

B) what they need and what is feasible to offer

Ch 4 Q15: After defining the problem and objectives, what is the next step in the marketing research process? A) Analyze the data. B) Implement the plan. C) Collect the data. D) Develop the research plan. E) Report the findings.

D) Develop the research plan.

Ch 4 Q16: Which of the following statements regarding the use of marketing information, customer relationship management (CRM), and analytics is correct? A) Marketing analytics is not used in customer relationship management. B) Technology alone can build profitable customer relationships. C) Social media information cannot be analyzed using marketing analytics. D) Marketing information is of great value even if it is not used for decision making. E) There are risks involved in using big data analytics and CRM.

E) There are risks involved in using big data analytics and CRM.

Ch 4 Q17: Amazon Echo's Alexa is an example of using ________ to help customers manage their lives and buying behavior. A) marketing information ecosystems B) exploratory research C) tertiary data D) big data E) artificial intelligence (AI)

E) artificial intelligence (AI)

Ch 4 Q18: Which of these examples is NOT an intrusion into consumer privacy? A) Many consumers fear marketers are collecting data to manipulate their buying. B) Some consumers worry about marketing researchers tracking their internet usage. C) Some consumers worry that marketers are collecting information that allows them to probe our deepest feelings. D) Most consumers are concerned about product safety issues. E) Some consumers fear that marketers are building huge databases filled with their private information.

D) Most consumers are concerned about product safety issues.

Ch 4 Q19: Which of these items is NOT included in a written proposal for a research plan? A) The specific research approaches B) The sampling plans that will be used C) The instruments used to collect the data D) The anticipated responses of competitors E) The proposed data sources

D) The anticipated responses of competitors

Ch 4 Q20: Which of these methods is NOT a primary data collection approach? A) Using tracking data to determine customer likes and dislikes B) A customer panel used to provide customer insights C) Data collected using a Google search D) Questionnaires and surveys filled out electronically E) Observational research used to watch customer reactions to a new product

C) Data collected using a Google search

Ch 4 Q21: What is the primary purpose of a customer insight team? A) Determining which types of marketing media are most effective B) Helping the firm develop new products and services C) Teaching other customers about the firm's products D) Dealing with disgruntled customers E) Developing actionable insights from marketing data

E) Developing actionable insights from marketing data

Ch 4 Q22: Which of the following statements regarding competitive marketing intelligence is correct? A) Marketing intermediaries are not a good source of competitive marketing intelligence. B) The goal of competitive marketing intelligence is to improve strategic decision making. C) Marketing intelligence information is not available from the U.S. government. D) Monitoring a competitor's website is unethical. E) Companies should not be concerned about competitors accessing publicly available information about them.

B) The goal of competitive marketing intelligence is to improve strategic decision making.

Ch 4 Q23: What is the name given to the people, processes, and all other assets that are dedicated to assessing managers' information needs, developing that information, and then applying that information to generate action items and key market insights? A) Customer insight teams B) Marketing information ecosystem C) Internal databases D) Technology transfer centers E) Big data

B) Marketing information ecosystem

Ch 4 Q24: What are the three types of research objectives? A) Exploratory, formal, and casual B) Exploratory, descriptive, and definitive C) Causal, experimental, and hypothetical D) Exploratory, causal, and experimental E) Exploratory, descriptive, and causal

E) Exploratory, descriptive, and causal

Ch 4 Q25: Competitive marketing intelligence uses __________ data sources. A) internal B) competitor's internal C) private D) expensive E) all available

E) all available