Marketing Chapter 5 - Marketing Information Test

What is the primary benefit of utilizing marketing information?

• setting competitive prices

• evaluating financial performance

• developing promotional strategies

• gaining customer insights

• launching new products

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

• large reports

• huge and complex data sets

• information requests

• social media contacts

• e-mail messages

Challenges of managing big data include ________.

• accessing and sifting through so much data

• having too little data to analyze

• easily finding patterns without tools

• managing small datasets efficiently

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.

• marketing information system

• financial information system

• human resource information system

• logistics information system

A marketing information ecosystem (MIE) is used to ________.

• assess information needs

• create marketing campaigns

• design product packaging

• manage customer relationships

A marketing information ecosystem (MIE) user should most likely be able to ________.

• implement new technology

• increase order requests

• develop customer insights

• analyze employee turnover

• establish short-term objectives

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

• True

• False

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

• True

• False

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

• request; want; affordable

• demand; should request; time-efficient

• want; are unaware of; the newest technology

• would like; need; feasible

• don't need; can afford; available

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

• analyzing

• interviewing

• conducting

• designing

• reporting