Exam 4: Managing Marketing Information to Gain Customer Insights

The job of a chief listening officer is to sift through online customer conversations and pass along key insights to marketing decision makers.

Which of the following statements is true regarding competitive marketing intelligence?

Brad works with a reputed 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 consumer behavior and their buying motives. This, in turn, allows Brad's firm to successfully generate more value for consumers. Brad leads the ________ team.

Briefly explain the functions of a customer insights group.

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

Loft Industries sells roof trusses to contractors and builders and is currently looking for honest feedback on its services. However, in the past, most of its efforts to procure feedback from customers did not yield any meaningful data. According to the marketing managers of Loft Industries, feedback was more polite than honest. Which of the following contact methods should Loft Industries most likely use to maximize its chances of receiving honest and impersonal feedback?

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

How does primary data differ from secondary data?

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

Which of the following is a valid source of secondary data?

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

The first question in a questionnaire should be purposely made difficult and complicated to weed out the uninterested respondents.

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 ________.

Which of the following is an advantage of using an internal database?

What is the most common CRM mistake?

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

Since secondary data provide a good starting point for research and often help define problems and research objectives, companies do not need to collect primary data.

Redrunners Inc., a manufacturer of sports merchandise, is gathering customer opinions about the firm's new sports shoe line. A team of researchers in the company invited 8 regular customers to talk about the new line of shoes, asking why they chose to buy the shoe and what they disliked most about its design. A moderator was present to monitor the discussion. Which of the following types of contact methods has Redrunners used in this instance?

Which of the following most likely refers to a person who is charged with sifting through online customer conversations and passing along key insights to marketing decision makers?

Experimental research is best suited for gathering ________ information.