exam 2 chapters 4-7

Question 1

preparing the research report is ________ step in the marketing research process

Answer 1

last

Question 2

Which of the following describes an experiment as a research technique?

Answer 2

It predicts relationships among variables in a controlled environment.

Question 3

Defining the research problem is the step of the market research process that involves __________.

Answer 3

specifying the research objectives and identifying the consumer population of interest

Question 4

In the market research process, which of the following steps occurs immediately after choosing the method to collect primary data?

Answer 4

Designing the sample

Question 5

Collecting data is a step of the market research process that involves __________.

Answer 5

translating questionnaires and responses

Question 6

What is reverse engineering?

Answer 6

The process of physically deconstructing a competitor’s product to determine how it’s put together

Question 7

A technique that marketers use to generate insights for future, more rigorous studies is __________.

Answer 7

exploratory research

Question 8

What are customer insights?

Answer 8

The collection, deployment, and interpretation of information that allow a business to acquire, develop, and retain its customers

Question 8

A collection of raw, unorganized facts that need to be processed is __________.

Answer 8

data

Question 9

An example of primary research is __________.

Answer 9

customer interviews

Question 10

Which of the following describes a probability sample?

Answer 10

A sample in which each member of the population has some known chance of being included

Question 11

What is the name for a technique that attempts to understand cause-and-effect relationships?

Answer 11

Causal research

Question 12

________ is a technique that tests predicted relationships among variables in a controlled environment.

Answer 12

An experiment

Question 13

An example of secondary research is __________.

Answer 13

customer feedback

Question 14

What is market research?

Answer 14

The process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment in order to improve marketing effectiveness

Question 15

Which of the following describes descriptive research?

Answer 15

A tool that probes more systematically into the problem and bases its conclusions on large numbers of observations

Question 16

Which of the following describes a process that first determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information?

Answer 16

Marketing information system (MIS)

Question 17

Defining the research problem is the __________ step in the market research process.

Answer 17

first

Question 18

What is validity?

Answer 18

The extent to which research actually measures what it was intended to measure

Question 19

__________ is general information that specialized firms collect on a regular basis and then sell to other firms.

Answer 19

Syndicated research

Question 20

Identify the last step in the market research process.

Answer 20

Preparing the research report

Question 21

What is a market intelligence system?

Answer 21

A method by which marketers get information about everyday happenings in the marketing environment

Question 22

Which step of the market research process involves specifying the research objectives and identifying the consumer population of interest?

Answer 22

Defining the research problem

Question 23

___________ is the cost of gaining an order in terms of the marketing investment made to turn a website visitor into a customer who has chosen to make a transaction.

Answer 23

Cost-per-impression

Question 24

Data that (1) are typically numeric or categorical; (2) can be organized and formatted in a way that is easy for computers to read, organize, and understand; and (3) can be inserted into a database in seamless fashion are known as __________.

Answer 24

structured data

Question 25

What is web scraping?

Answer 25

The process of using computer software to extract large amounts of data from websites

Question 26

Which of the following describes lead nurturing?

Answer 26

The automated process of sending personalized and relevant content to the prospect to build their trust, making it more likely that they will eventually make a purchase

Question 27

Differentiating among customers in terms of both their needs and their value to the company is the __________ step in one-to-one marketing.

Answer 27

second

Question 28

Which of the following is a process in which analysts sift through Big Data to identify unique patterns of behavior among different customer groups?

Answer 28

Data mining

Question 29

One application of data mining is customer retention and loyalty. Which of the following describes this application?

Answer 29

When the firm identifies big-spending customers and then targets them for special offers and inducements other customers won’t receive

Question 30

The process of identifying one’s attitude toward a brand by assessing the context or emotion of one’s comments is __________.

Answer 30

sentiment analysis

Question 31

__________ is the third step of the one-on-one marketing steps.

Answer 31

Interacting with customers and finding ways to improve cost efficiency and the effectiveness of the interaction

Question 32

Which of the following is an online ad purchase in which the cost of the ad is charged only each time an individual clicks on the ad and is directed to the Web page to which the marketer linked within the ad?

Answer 32

Cost-per-click

Question 33

What is Big Data?

Answer 33

A popular term to describe the exponential growth of data in massive amounts that are hard or impossible to process using traditional database techniques

Question 34

Which of the following is an example of unstructured data?

Answer 34

Video transcripts

Question 35

__________ allows an organization to customize some aspect of the goods or services it offers to each customer.

Answer 35

One-to-one marketing

Question 36

What is search engine optimization (SEO)?

Answer 36

A systematic process of ensuring that your firm is returned at or near the top of lists of typical search phrases related to your business

Question 37

What is information overload?

Answer 37

A state in which the marketer is buried in so much data that it becomes nearly paralyzing to decide which of the data provides useful information and which does not

Question 38

Which of the following describes customer relationship management (CRM)?

Answer 38

A systematic tracking of consumers’ preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual’s wants and needs

Question 39

Which of the following is a method to test the effectiveness of altering one characteristic of a marketing asset?

Answer 39

An A/B test

Question 40

Which of the following describes cost-per-impression?

Answer 40

An online ad purchase in which the cost of the ad is charged each time the ad shows up on a page that the user views

Question 41

What is marketing analytics?

Answer 41

A group of technologies and processes that enables marketers to collect, measure, analyze, and assess the effectiveness of marketing efforts

Question 42

___________ are specific measures that help marketers watch the performance of their marketing campaigns, initiatives, and channels and, when appropriate, serve as a control mechanism.

Answer 42

Marketing metrics

Question 43

What is a touchpoint?

Answer 43

Any connection of direct interface between customers and a company

Question 44

___________ is the cost of gaining an order in terms of the marketing investment made to turn a website visitor into a customer who has chosen to make a transaction.

Answer 44

Cost-per-impression

Question 45

Data that (1) are typically numeric or categorical; (2) can be organized and formatted in a way that is easy for computers to read, organize, and understand; and (3) can be inserted into a database in seamless fashion are known as __________.

Answer 45

structured data

Question 46

What is web scraping?

Answer 46

The process of using computer software to extract large amounts of data from websites

Question 47

Which of the following describes lead nurturing?

Answer 47

The automated process of sending personalized and relevant content to the prospect to build their trust, making it more likely that they will eventually make a purchase

Question 48

Differentiating among customers in terms of both their needs and their value to the company is the __________ step in one-to-one marketing.

Answer 48

second