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BUSML 3250 Chapter 4 Exam Questions and Answers
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BUSML 3250 Chapter 4 Exam Questions and Answers
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BUSML 3250 Chapter 4 Exam Questionsand Answers
Customer Insights - Answer-Fresh understanding of customers and the marketplace
derived from marketing information that become the basis for creating customer value
and relationships
Marketing Information System (MIS) - Answer-People and procedures dedicated to
assessing information needs developing the needed information, and helping decision
makers to use the information to generate and validate actionable customer and market
insights
International Databases - Answer-Electronic collections of consumer and market
information
Competitive Marketing Intellignece - Answer-The systematic collection and analysis of
publicly available information about consumers, competitors and developments in the
marketing
Marketing Research - Answer-A systematic design, collection, analysis, and reporting of
data relevant to a specific marketing situation facing an organization
Exploratory research - Answer-Marketing research to gather preliminary information that
will help define problems and suggest hypotheses
Descriptive research - Answer-Marketing research to better describe marketing
problems, situations or markets such as the market potential for a product or the
demographics and attitudes of consumers
Casual Research - Answer-Marketing research to test hypothesis about cause and
effect relationships.
Secondary Data - Answer-Information that already exists somewhere, having been
collected for another postition
Primary Data - Answer-Information collected for the specific purpose at hand
Observational Research - Answer-Gathering primary data by observing relevant people,
actions and situations.
Ethnographic research - Answer-A form of observational research that involves sending
trained observers to watch and interact with consumers in their "natural environments"
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