Exam 4: Managing Marketing Information to Gain Customer Insights

You are trying to determine whether retired people drink more coffee at McDonald's during lunch than they do during dinner.Why is observation research NOT effective in this scenario?

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

Loft Industries sells roof trusses to contractors and builders and would like to conduct research to determine how customers assess customer service.Which of the following research instruments would be best for this firm?

ABC Company has decided to use mail questionnaires to collect data.This method has all the following advantages EXCEPT which one?

Four common sources of internal data include the accounting department,operations,the sales force,and the .

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

As a small business consultant,you recommend to your clients that they use no- cost methods of observation to gather market research.Which of the following are you NOT likely to recommend your clients do?

Marketers can obtain needed information from internal data,competitive marketing intelligence,and marketing research.Compare and contrast each of these.

You have just identified the "touch points" of the 400 best customers in your database.At this point,you want to manage detailed information about each of them to maximize customer loyalty.You should use customer relationship management (CRM).

Typically,customer information is buried deep in separate databases,plans,and records of many different company functions and departments.To overcome such problems,which of the following should you try?

Refer to the scenario below to answer the following questions. Jason West,owner of A- 1 Cleaning,began his enterprise in 2001.Jason's primary focus had been on office cleaning for large corporations.But in recent months Jason had seen a decline in demand for office cleaning.Surprisingly,the competitive environment appeared relatively stable with no new competitors.However,Jason knew that office cleaning is a high- frequency service that is usually performed daily;therefore,competitors must have been doing something to attract his customers.Building a competitive advantage seemed to be the only option to offset competition.But as Jason pondered his dilemma,he realized that he needed to better understand how customers assess service quality and what they are looking for in a superior cleaning service,prior to building his competitive advantage. Jason developed a research plan.First,he gathered competitor information-primarily through pamphlets and Web sites,but also from a few phone calls-to find out exactly what competitors offered in their cleaning packages.In addition,Jason obtained from the area Chamber of Commerce an updated list of local corporations to which he would send a short survey. Though the list of corporations contained 141 local company names,Jason chose to survey 75 of them.To better understand customer service expectations between both small and large corporations,Jason divided his surveys into two categories.The survey questions were designed to extract specific data from respondents with regard to service quality expectations in correlation to service frequency and price. Jason awaited the results.Though his primary focus had been on large corporations,he was flexible and would aim his efforts differently if needed. -Of the 141 companies on the list,Jason chose to survey only 75 of them.Jason sent surveys to small companies and large companies.If Jason selected survey recipients randomly from the groups of small companies and large companies,he was using a _.

The real value of marketing research and information lies not in quantity but in the customer insights provided.

You have been asked to locate secondary data for your small organization's research needs.Which of the following is NOT a common source for this type of research?

Which method would a marketing researcher most likely use to obtain information that people are unwilling or unable to provide?

What is the purpose of a data warehouse?

Which of the following is LEAST likely to be a benefit of conducting marketing research?

As part of her company's customer insight group,Carmen should expect to use both secondary and primary data to develop customer and market information.

How can a company overcome the problem of gathering internal data for research purposes when the data is usually scattered widely across the organization?

Researchers generally need to ask three questions when developing a sampling plan.Which of the questions below is one of these three?

What is a major drawback of probability sampling?