MKT101 chapter 4

Despite the data glut that marketing managers receive, they are most likely to complain that they lack which of the following?

• enough information of the right kind

• secondary information

• timely information

• searchable information

Which of the following statements is NOT true regarding information collected for marketers?

• Many managers lack information of the right kind.

• Most managers do not need more information.

• Most managers need better information.

• Managers have enough of the right information.

A marketing information system (MIS) consists of people and procedures to assess information needs, ________, and help decision makers analyze and use the information.

• experiment to develop information

• test market the information

• develop the needed information

• question the needed information

The real value of a company's marketing research and information system lies in the ________.

• amount of data it generates

• quality of customer insights it provides

• variety of contact methods it uses

• marketing information system it follows

A good MIS balances the information users would ________ against what they really ________ and what is ________.

• need; like; feasible

• like; can analyze; needed

• need; can afford; used by the competition

• like to have; need; feasible to offer

In general, marketers must weigh carefully the costs of additional information against the ________ resulting from it.

• benefits

• organization

• creativity

• cost

Diana Dion is currently researching data sources from within her company to make marketing decisions. Diana is making use of ________ databases.

• online

• external

• internal

• search service

Four common sources of internal data include the accounting department, operations, the sales force, and the ________.

• competition

• online focus groups

• stockholders

• marketing department

Marketing information from which type of database usually can be accessed more quickly and cheaply than other information sources?

• external

• internal

• LexisNexis

• MONITOR

________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.

• Marketing data

• Sales management

• Competitive marketing intelligence

• Value chain management