Exam 10: Marketing Research in the Era of Big Data

Marketing decision support systems (MDSSs)organize data in ways that allow users to model different scenarios and evaluate them before making marketing decisions.

A marketing information system (MIS)is a part of a firm's overall management information system that deals specifically with marketing data and issues.

Kate believes the reason the sales of one of her company's products has fallen is due to a price increase.She cites sales from the previous year to the same customers as evidence of declining sales.Kate is:

Marketing research is most likely to be outsourced if the:

Marketing research aids decision makers in analyzing data and in suggesting possible actions.

An accidental sample is also known as a _____ sample.

Interpretative research is an observational method that observes consumers in their natural setting.

Marketers in many industries use predictive analytics to:

Test marketing a new product is expensive and communicates company plans to competitors prior to its full-scale introduction.

Walmart is evaluating its performance records of the previous years that are stored in its database.In addition to this,the company is also evaluating its previous year invoices.This evaluation process carried out by firms is called _____.

A(n)_____ is a probability sample in which every individual in the relevant universe has an equal opportunity of being selected.

You are watching an episode of a new game show that tests contestants' knowledge by giving them phrases they must respond to with a question. The following marketing-related phrase comes up in the bonus round of the game: "It's an informed guess or assumption about a problem or a specific event.It sets the stage for in-depth research and clarifies what the researcher needs to test." The contestant's response should be ​

Observation alone cannot supply all the necessary information as it is difficult to get exact demographic information from observation.

What has significantly changed the complexion of marketing research over the past few decades?

The size and organizational form of the marketing research function is usually independent of the structure of the company.

Which of the following is the most important source of secondary data in the United States?

Vanessa owns a music company and has been storing a wealth of information ranging from customer contact information to the names of each record the customers have purchased.In order to stay competitive,she had a tech company build a marketing decision support system (MDSS)for her to enable quick decision making.One of the features Vanessa likes best about her company's MDSS is the system's ability to manage and produce information in various formats.Moreover,as the user or decision maker changes topics,the system matches information to the problem that has been introduced. Which of the following characteristics of a marketing decision support system is represented in the example above?​

Data analysis companies work with other businesses to fine tune marketing strategies in real time.

Keith is searching through computerized information files of customers to detect patterns in product sales.Keith is engaged in the process of:

Paul Simmons owns a food distribution business and employs approximately 80 people in a variety of positions including executive management,administrative support personnel,sales,distribution,and marketing.He's very interested in maintaining a positive work culture and aspires to being one of the best places to work in his region.He recently hired a marketing consulting firm to complete an employee satisfaction study for him to gain insight into how his workers view their job,benefits,supervisors,and other important elements such as compensation and benefits.What type of data best describes this project?​