Principles of Marketing Chap 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.

• TRUE

• FALSE