Exam 2 Chap 9

Question 1

Competitive intelligence

Answer 1

An intelligent system that helps manager asses their competition and vendors in order to become more efficient and effective competitors

Question 2

Source of competitive intelligence

Answer 2

• internet, industry expert, gov, industry trade show, salespeople

Question 3

Where does competitive intelligence derive from?

Answer 3

Military intelligence, competitive intelligence is important tool for helping a firm competitor advantages

Question 4

Marketing research

Answer 4

The process of planning, collecting, analyzing data relevant to a marketing decision

Question 5

What does market research do?

Answer 5

• link customers to markets through info
• it is the main data source for management info
• provide data on the effectives of marketing mix

Question 6

What are the 3 roles of marketing research

Answer 6

• descriptive
• diagnostic
• predictive

Question 7

Descriptive

Answer 7

• gathering and presenting factual statement

- what is the historic sales trend in the industry

Question 8

Diagnostic

Answer 8

• explain data

- what was the impact on sales after change in packaging

Question 9

Predictive

Answer 9

• address “what if”
• what if question, how can descriptive and diagnostic research be used to predict the result of a planned marketing decision

Question 10

What do market use marketing research?

Answer 10

• improve the quality of decision making
• helps managers trace problems
• helps manager understand detailed and complicated relationship
• helps manager serve customer accurately and efficiently

Question 11

Secondary data

Answer 11

• data previously collected for any purpose other than the one at hand

Question 12

Origins of internal source of secondary data

Answer 12

• the company website
• annual reports
• blogs
• social media post / YT
• product testing result
• …

Question 13

Origin of external source of secondary data

Answer 13

• government agencies
• trade and industry association
• business periodicals
• news media

Question 14

Secondary data +

Answer 14

• save time and money
• help formulating problem statement
• suggest research methods and data solve problems
• basis for data comparaison

Question 15

Secondary data -

Answer 15

• may not give adequate detailed information

- quality and accuracy of data may pose a problem

Question 16

Primary data

Answer 16

Information that is collected for the first time

- used to solve the particular problem at hand

Question 17

Survey research

Answer 17

The most popular technique for gathering primary data

- goal get: facts, opinion, attitudes

Question 18

Types of survey research interviews

Answer 18

• in home personal interviews

- mall intercept interviews

Question 19

In home personal interviews

Answer 19

In home personal interviews often provide high quality info.

- tend to be expensive because fo interviewers travel time

Question 20

Mall intercept interviews

Answer 20

A survey research method that involves interviewing people in common areas of shopping mall

Question 21

Executive interview (survey research)

Answer 21

Type of survey that usually involves interviewing business people at their office

Question 22

Focus groups (survey research)

Answer 22

7 to 10 people who participate in a group discussion

- discussion lead by moderator

Question 23

Telephone interview

Answer 23

Cost less than personal interview, but cost rapidly increase due to respondent refusal to participate

Question 24

What cost less than personal interviews

Answer 24

Telephone interviews

Question 25

Why does cost increase in telephone interviews

Answer 25

Cuz people dont want to participate

Question 26

Central-location téléphone (CLT) facility

Answer 26

Specially designed phone rooms used to conduct phone survey

Question 27

Mail survey alternative

Answer 27

Mail panels

Question 28

Benefits of mail survey

Answer 28

- low cost - elimination of interviews and field supervisors - centralized control - ...

Question 29

Computer assisted personal interviews

Answer 29

Interviewing method in which the interviewer reads question to the respondent off a computer screen. - data enter into pc

Question 30

Computer assisted self-interviewing

Answer 30

Interview method in which a mall interviewer intercept and directs willing respondents to nearby computer. - responds read question from pc and direct answer on pc

Question 31

Questionnaire design

Answer 31

- open ended question - close ended question - scaled response question

Question 32

Questionnaire

Answer 32

People are ask the same questions

Question 33

Open ended questions

Answer 33

Interviews question that encourage an answer phrased in the respondent own words

Question 34

Closed ended question

Answer 34

Interview question that ask the respondent to make a selection from limited list of response

Question 35

Scales response question

Answer 35

A closed ended question designed to measure the intensity of a respondent answer

Question 36

Observation research

Answer 36

Method relis on 4 types of observation

Question 37

What are the 4 types of observation research

Answer 37

- people watching people - people watching activity - machines watching people - machines watching activity

Question 38

Mystery shopper

Answer 38

Researcher posing as customers who gather observational data about a store

Question 39

Behavioral targeting (BT)

Answer 39

Form of observation marketing that combines a consumer’s online activity with psychographic and demographic profiles that is in the data base

Question 40

Virtual shopping

Answer 40

Simulation of actual retail store environment on a computer

Question 41

Experiment

Answer 41

A method of gathering primary data in which the researcher alter one or more variables while observing the effects of those alteration on another variable

Question 42

Ethnographic research

Answer 42

The study of human behavior in its natural context, involves observation of behavior and physical setting

Question 43

Social media’s monitoring

Answer 43

Tools to monitor online buzz