Exam 4: Managing Marketing Information to Gain Customer Insights

Erica Jenson has a limited budget to conduct 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?

Compare and contrast closed-ended questions and open-ended questions for gathering data.

Marketing research can be collected by mail, telephone, personal interview, or online. Discuss the disadvantages of each contact method.

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

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?

The questionnaire is the most common research instrument.

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

Describe the components of a marketing information system (MIS), and list its three main functions.

Differentiate between the three types of marketing research objectives: exploratory research, descriptive research, and causal research.

A practice called ________ allows marketers to use online data to target ads and offers to specific customers.

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

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.

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

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

The initial function of a marketing information system is ________.

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

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

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.

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

Which of the following is true of competitive marketing intelligence?