ch7

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San Jose State University *

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130

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Marketing

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Apr 3, 2024

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docx

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Which of the following is true of the Dunkin’ case? Dunkin’ employs research to guide its sustainability and corporate social responsibility efforts. Marketing managers can use which of the following in order to acquire information about a market? (Check all that apply.)  Experiments  Interviews  Observations  Questionnaires Market research firms or specialists are sometimes called in by companies to aid in the research process. A key to making marketing research and an MIS that is useful in marketing strategy planning is Blank ______. careful communication and coordination with research experts Rather than look at the sales and income generated from the last product introduction in the spring, Millie decided to introduce the new product because she had a good feeling it would do well in the market. Six months later, Millie couldn't believe how low the sales were for the product. What should Millie have used to make a better decision? Hard data Which of the following are examples of marketing research used by Dunkin’ Donuts and described in this case?  Loyal Dunkin’ customers were paid to go to Starbucks and then interviewed about the experience.  Customers serve on the Dunkin’ Advisory Panel and regularly complete surveys.  Dunkin’ used a psychographic survey to learn customers’ attitudes, values, and interests. Marketing Blank ______ involves the procedures that develop and analyze new information about a market. research The data from a Blank ______ system can be used to guide the marketing strategy planning process. marketing information What types of firms typically hire market research firms or research specialists to help them with market research? (Check all that apply.)  Large, for-profit companies  An increasing number of not-for-profit organizations It is the job of a specialist in the Blank ______ department to make sure the technical aspects of an MIS are correct. information technology Without Blank ______ data, marketing managers may make the same errors as their predecessors Hard Some automobile manufacturers install digital sensors to track fuel and engine activity on automobiles sold to the public. This is an example of Blank ______ data. external An MIS makes it easier for marketing managers to find information. True Market research firms or specialists are sometimes called in by companies to aid in the research process. With the advent of cloud storage and other online storage tools, Micah's company is now able to save all the data it collects from internal sources, external sources, and marketing research studies. The company wasn't able to store all of this with its former database management system. What phenomenon is Micah's company experiencing? Big data The Four Vs are used to understand the dimensions of Blank ______.

big data Which of the Four Vs refers to the numerous ways a company can collect data? Variety Kelly is a marketing manager and during her last discussion with the IT department, she said she would like to identify when a customer showed interest in an online product and send a coupon or discount offer to that customer within 20 seconds of their view. Which of the Four Vs does Kelly want to implement? Velocity Which of the Four Vs denotes the quality of the data? Veracity Big is the name given to data sets that are too large and complex to work with typical database management tools. Data A data warehouse can be described as Blank ______. an electronic library The first "V" in the Four Vs is Blank ______ which identifies the quantity of data generated and stored. volume When marketing managers are able to answer questions like "How did our competitor enter that market?" and "Why did our Twitter account blow-up after that tweet?," the company has changed data into Blank ______. knowledge Tyler's company collects customer data in many ways, from the number of clicks on their website to the hundreds of retweets of their marketing messages, as well as, focus groups. This is an example of which of the Four Vs? Variety As one of the Four Vs, Blank ______ is the speed at which data are generated and processed. velocity A computer program that makes it easier for a marketing manager to get and use information and turn the information into knowledge to make informed marketing strategy decisions is called a(n) decision support system (DSS). Maria decided not to use the data found in the report because she couldn't verify the source. Which of the Four Vs helped Maria make this decision? Veracity A Blank______ displays up-to-the-minute marketing data in an easy-to-read format. marketing dashboard Companies use a data Blank ______ to store all of their databases so they are available when needed. Warehouse Jacob is reviewing a report that shows him the sales and costs anticipated with the three different promotional efforts his company plans to use for the new product. From this, he selects the marketing mix appropriate for the product. What type of report is Jacob using to make his decision? Marketing model Sharon reminded the marketing team that trying to sell the sherpa-style coats in St. Louis hadn't worked before because that area of the country had short bursts of cold weather. Sharon recommended that the company only sell the coats in climates with at least three months of arctic temperatures. This demonstrates how available data has been transformed into Blank ______. wisdom As the marketing manager at a very successful sports equipment company, Joe must make decisions about pricing and advertising. He often uses a computer program that provides suggestions about price levels and advertising media choices. This computer program is most likely a(n)

decision support system (DSS). A customer service manager at a car rental company can check in every afternoon to see which car rental location is renting the most cars that day by using a marketing dashboard. The marketing Blank ______ is a statement of relationships among the marketing variables. Model Marketing research that is based on the scientific method requires a company's ideas to be tested prior to implementation. List the five steps in the marketing research process in order, beginning with the first step at the top of the list. 1.defining the problem 2. analyzing the situation 3. getting problem-specific data 4. interpreting the data 5. solving the problem The owner of a web-based business might want to check to see how many customers are currently visiting her online store or placing orders. What tool allows her to see this activity on the computer in real time? A marketing dashboard Because market researchers must be sure that they are focusing on actual problems, cooperation with Blank ______ is critical to good marketing research. marketing managers What is generally the most challenging step of the five-step approach to marketing research? Defining the problem Marketing research is most successful when driven by Blank ______ because it requires testing prior to making a final marketing decision. the scientific method The marketing research process is based on the Blank ______. scientific method A pitfall for marketing managers engaged in Step 1 of the marketing research process is Blank ______. thinking that a symptom is the problem Good marketing research requires Blank ______ to be sure that the research focuses on real problems. cooperation between researchers and marketing managers Why is it important to define the research problem? Defining the problem ensures that the research is Blank ______.  It ensures that the research is not a wasted effort.  It ensures that the research is correctly targeted. Which of the following are benefits of reducing the number of research objectives at the start of the marketing research process?  It saves time.  It saves money. An informal study of what information is already available in the problem area is called Blank ______. a situation analysis What is the best way for marketing managers to identify the correct problem and not its symptoms? By doing research A situation analysis allows both the marketing manager and researcher to agree upon and understand what the problem area is.

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