Chapter 7: IMPROVING DECISIONS WITH MKT INFORMATION

1. According to the text, what is a key reason marketing managers need accurate information?

• To reduce advertising expenses

• To make better marketing decisions

• To increase production efficiency

• To simplify product design

1. Which of the following is NOT a type of question marketing managers seek to answer with marketing research?

• What value can a marketing mix deliver?

• Which measures matter?

• 1. What is the company’s stock price?

• What if scenarios?

1. What are the two main resources marketing managers use for information?

• Sales data and customer feedback

• Marketing research and marketing information systems

• Competitor analysis and economic forecasts

• Financial reports and production schedules

1. What is a marketing information system (MIS)?

• 1. A system for conducting one-time marketing research projects

• A way of continually gathering, accessing, and analyzing information for ongoing decisions

• A software that automates marketing campaigns

• A method for tracking advertising spending

1. Which of the following is NOT a typical source of data for an MIS?

• Internal data like sales and cost information

• Competitors' stock prices

• Marketing research studies

• Individual customer data

1. What is "big data"?

• Small, easily manageable data sets

• Data sets too large and complex for typical database management tools

• Data that are primarily qualitative

• Data collected only from internal sources

1. Which of the following is one of the Four Vs of big data?

• Validity

• Value

• Volume

• Visualization

1. What is the purpose of a data warehouse?

• To store only marketing research data

• To store databases so they are available when needed

• To analyze data in real-time

• To collect data from external sources only

1. What is a marketing dashboard?

• A detailed financial report

• A computer program that automates marketing decisions

• A display of up-to-the-minute marketing information in an easy-to-read format

• A tool for creating marketing models

1. What is a marketing model used for?

• To predict consumer behavior

• To create advertising campaigns

• To design new products

• To automate customer service interactions