Exam (elaborations)

MARKETING 311 Chapter 4 | Answered with complete solutions

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Mkt 311

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Mkt 311

MARKETING 311 Chapter 4 | Answered with complete solutions With the recent explosion of information technologies, ________. A) most marketing managers are overloaded with data and often overwhelmed by it B) most marketing managers are concerned solely about the duplication of content C) companies...

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MARKETING 311 Chapter 4

With the recent explosion of information technologies, ________.

A) most marketing managers are overloaded with data and often overwhelmed by it
B) most marketing managers are concerned solely about the duplication of content
C) companies have ceased to feel the need for marketing information systems
D) companies have ceased to maintain internal databases
E) it has become more difficult and expensive to obtain primary data

The real value of marketing information lies in how it is used ________.

A) in determining selling prices for products
B) in analyzing budgets
C) in creating advertising campaigns
D) in the customer insights that it provides
E) in introducing a new product to the marketplace

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

A) product development
B) strategy implementation
C) human resource
D) customer relationship management
E) customer insights

The term big data refers to the ________ generated by today's sophisticated
information generation, collection, storage, and analysis technologies.

A) large reports
B) huge and complex data sets
C) information requests
D) social media contacts
E) e-mail messages

Challenges of managing big data include ________.

,A) determining what information to request
B) investing in appropriate technology
C) hiring enough software engineers
D) properly routing the information after gathering it
E) accessing and sifting through so much data

A(n) ________ consists of people and procedures dedicated to assessing information
needs, developing the needed information, and helping decision makers use the
information to generate and validate actionable customer and market insights.

A) enterprise planning system
B) enterprise information system
C) marketing information system
D) corporate performance management system
E) geographic information system

An MIS is used to ________.

A) generate product interest
B) develop marketing plans
C) identify demographic trends
D) assess information needs
E) test hypotheses about cause-and-effect relationships

An MIS user should most likely be able to ________.

A) implement new technology
B) increase order requests
C) develop customer insights
D) analyze employee turnover
E) establish short-term objectives

The market researchers at HoneyCamp Foods gather daily sales data and sort it by
product line and region. With the help of sophisticated tools and techniques, they
develop the data needed by marketing managers to evaluate the market share of the
company's different products and also to gain valuable market insights. This mix of
people and procedures at HoneyCamp
Foods that generate actionable marketing insights represents a(n) ________.

A) enterprise planning system
B) product mix
C) strategic planning system
D) marketing information system
E) business portfolio

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

The real value of marketing research lies in the customer insights that it provides.
True

With current technology systems, marketers find it simple to access and sift through the
data that is gathered.
False

A management information system assesses information needs, develops needed
information, and helps decision makers use the information.
True

A good marketing information system balances the information users ________ to have
against what they ________ and what is ________ to offer.

A) request; want; affordable
B) demand; should request; time-efficient
C) want; are unaware of; the newest technology
D) would like; need; feasible
E) don't need; can afford; available

Costs are involved in obtaining, ________, storing, and delivering information.

A) analyzing
B) interviewing
C) conducting
D) designing
E) reporting

Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching
electronic collections of consumer information within the company network to arrive at
crucial marketing decisions. In this instance, Kei is using ________.

A) ethnographic research
B) internal databases
C) descriptive research
D) data warehouses
E) causal research

Information in a company's database can come from many sources. An advantage of
harnessing such information is to ________.

A) eliminate employee turnover

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