Managing Marketing Information To Gain Customer Insights

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Question 1
Free
Multiple Choice

With the recent explosion of information technologies, ________ .

Choose correct answer/s
A

most marketing managers are overloaded with data and often overwhelmed by it

B

most marketing managers are concerned solely about the duplication of content

C

companies have ceased to feel the need for marketing information systems

D

companies have ceased to maintain internal databases

E

it has become more difficult and expensive to obtain primary data

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Question 2
Free
Multiple Choice

The real value of marketing information lies in how it is used ________ .

Choose correct answer/s
A

in determining selling prices for products

B

in analyzing budgets

C

in creating advertising campaigns

D

in the customer insights that it provides

E

in introducing a new product to the marketplace

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Question 3
Free
Multiple Choice

Brad works with a reputable retailer and leads a team that collects market information from a wide variety of sources ranging from marketing research studies to monitoring online conversations where consumers discuss Brad's firm or its products. Brad's team uses this information to arrive at a better understanding of consumers' behavior and their buying motives. This, in turn, allows Brad's firm to successfully generate more value for consumers. Brad leads the ________ team.

Choose correct answer/s
A

product development

B

strategy implementation

C

human resource

D

customer relationship management

E

customer insights

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Question 4
Free
Multiple Choice

The term big data refers to the ________ generated by today's sophisticated information generation, collection, storage, and analysis technologies.

Choose correct answer/s
A

large reports

B

huge and complex data sets

C

information requests

D

social media contacts

E

e-mail messages

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Question 5
Free
Multiple Choice

Challenges of managing big data include ________ .

Choose correct answer/s
A

determining what information to request

B

investing in appropriate technology

C

hiring enough software engineers

D

properly routing the information after gathering it

E

accessing and sifting through so much data

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Question 6
Multiple Choice

A(n) ________ consists of people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights.

Choose correct answer/s
A
enterprise planning system
B
enterprise information system
C
marketing information system
D
corporate performance management system
E
geographic information system
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Question 7
Multiple Choice

An MIS is used to ________ .

Choose correct answer/s
A
generate product interest
B
develop marketing plans
C
identify demographic trends
D
assess information needs
E
test hypotheses about cause-and-effect relationships
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Question 8
Multiple Choice

An MIS user should most likely be able to ________ .

Choose correct answer/s
A
implement new technology
B
increase order requests
C
develop customer insights
D
analyze employee turnover
E
establish short-term objectives
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Question 9
Multiple Choice

The market researchers at HoneyCamp Foods gather daily sales data and sort it by product line and region. With the help of sophisticated tools and techniques, they develop the data needed by marketing managers to evaluate the market share of the company's different products and also to gain valuable market insights. This mix of people and procedures at HoneyCamp Foods that generate actionable marketing insights represents a(n) ________ .

Choose correct answer/s
A
enterprise planning system
B
product mix
C
strategic planning system
D
marketing information system
E
business portfolio
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Question 10
True/False

With the recent explosion of information technologies, companies are finding it difficult to generate marketing information in great quantities.

Choose correct answer/s
True
False
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Question 11
True/False

The real value of marketing research lies in the customer insights that it provides.

Choose correct answer/s
True
False
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Question 12
True/False

With current technology systems, marketers find it simple to access and sift through the data that is gathered.

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True
False
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Question 13
True/False

A management information system assesses information needs, develops needed information, and helps decision makers use the information.

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True
False
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Question 14
Essay

What do marketers gain from gathering and analyzing information about customers and the needs and motivations of those customers?

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Question 15
Essay

What is the function of a marketing information system (MIS)?

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Question 16
Essay

Briefly explain the functions of a customer insights team.

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Question 17
Multiple Choice

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

Choose correct answer/s
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
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Question 18
Multiple Choice

Costs are involved in obtaining, ________ , storing, and delivering information.

Choose correct answer/s
A
analyzing
B
interviewing
C
conducting
D
designing
E
reporting
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Question 19
Multiple Choice

Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching electronic collections of consumer information within the company network to arrive at crucial marketing decisions. In this instance, Kei is using ________ .

Choose correct answer/s
A
ethnographic research
B
internal databases
C
descriptive research
D
data warehouses
E
causal research
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Question 20
Multiple Choice

Information in a company's database can come from many sources. An advantage of harnessing such information is to ________ .

Choose correct answer/s
A
eliminate employee turnover
B
achieve a high degree of employee empowerment
C
gain competitive advantage
D
gain access to mass markets
E
eliminate resource dependency
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