Internal Databases and Customer Relationship Management
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Questions and Answers

What is a disadvantage of syndicated data?

  • Low quality of the data collected
  • High cost of the data collected
  • Competitors have no access to the same information
  • Buyers have little control over the information collected (correct)

    • What is an advantage of packaged services?

  • Customization of every aspect of a project
  • Speed of the research service (correct)
  • High cost of the research service
  • Inexperience of the research firm offering the service

    • Which application is associated with packaged information?

  • Identifying segments using geodemographics (correct)
  • Monitoring media usage and promotion effectiveness
  • Measuring producer attitudes and opinions
  • Automatically collecting point of sale (POS) data

    • What type of data is automatically collected in digital tracking data?

    <p>Point of sale (POS) data</p> Signup and view all the answers

    What is a disadvantage of packaged services?

    <p>Inability to customize aspects of a project</p> Signup and view all the answers

    What is the primary focus of big data?

    <p>Real-time access to diverse and extensive data</p> Signup and view all the answers

    Which of the following is NOT mentioned as a potential source of marketing data?

    <p>Universities</p> Signup and view all the answers

    What is the primary challenge associated with using multiple sources of data effectively?

    <p>Integrating and analyzing the data</p> Signup and view all the answers

    In the context of marketing analytics, what is the main purpose of collecting and analyzing data?

    <p>To improve marketing decisions</p> Signup and view all the answers

    What is primary data?

    <p>Information that is developed or gathered by the researcher specifically for the research project at hand</p> Signup and view all the answers

    What type of data is made 'open by default' according to the passage?

    <p>Government-collected data</p> Signup and view all the answers

    Which of the following is NOT an example of a company or app that has been produced from free public data?

    <p>ProQuest</p> Signup and view all the answers

    What do syndicated services data provide according to the passage?

    <p>Data available to subscribing firms</p> Signup and view all the answers

    What does the Open Data Policy make 'open by default'?

    <p>All government-collected data</p> Signup and view all the answers

    What type of databases are supplied by organizations outside the firm, according to the passage?

    <p>External databases</p> Signup and view all the answers

    Which type of information is included in official statistics?

    <p>Qualitative and quantitative information related to demographics, economic development, and education</p> Signup and view all the answers

    Where can published sources of information be found?

    <p>In libraries and online</p> Signup and view all the answers

    What do external secondary data databases supply?

    <p>Databases supplied by organizations outside the firm such as published sources and official statistics</p> Signup and view all the answers

    What types of organizations supply external databases?

    <p>Organizations outside the firm including trade associations, professional organizations, and companies</p> Signup and view all the answers

    What kind of information is included in external databases?

    <p>Published sources, official statistics, and data aggregators</p> Signup and view all the answers

    What can be a potential problem with using secondary data published at regular intervals?

    <p>The credibility of the data may be affected by the time elapsed since the last publication.</p> Signup and view all the answers

    What is the defining characteristic of packaged information?

    <p>The data collected and the process of collecting the data are prepackaged for all users.</p> Signup and view all the answers

    How do syndicated data differ from packaged services?

    <p>Syndicated data are prepackaged for all users, while packaged services are customized for each client.</p> Signup and view all the answers

    What is the main distinguishing feature of packaged services?

    <p>They involve a prepackaged marketing research process for generating client-specific information.</p> Signup and view all the answers

    Why might the data from packaged services differ for each client?

    <p>Packaged services involve a marketing research process that generates client-specific information.</p> Signup and view all the answers

    What is the purpose of using internal databases for customer relationship management (CRM)?

    <p>To strengthen relationships with customers and reactivate customer purchases</p> Signup and view all the answers

    What is the name for software that helps managers make sense out of information in databases?

    <p>Data mining</p> Signup and view all the answers

    How does micromarketing differentiate itself for specific customer segments?

    <p>By using a differentiated marketing mix for specific customer segments</p> Signup and view all the answers

    What action exemplifies the use of internal databases to deepen customer loyalty?

    <p>Automatically sending out a birthday card to a customer</p> Signup and view all the answers

    In what way do companies use internal databases to avoid serious customer mistakes?

    <p>Charging a fee to one of the firm’s largest customers</p> Signup and view all the answers

    What is the definition of secondary data?

    <p>Data that has previously been gathered by someone other than the researcher and/or for some other purpose than the research project at hand.</p> Signup and view all the answers

    In what ways can secondary data be used in marketing research?

    <p>Determining lifestyle and purchasing habits, corporate intelligence, and understanding consumer concerns during a crisis situation.</p> Signup and view all the answers

    What does internal secondary data refer to?

    <p>Data that has been collected within the firm, such as sales records, purchase requisitions, and invoices.</p> Signup and view all the answers

    What is database marketing?

    <p>The process of building, maintaining customer databases and other databases for the purpose of contacting, transacting, and building relationships.</p> Signup and view all the answers

    What are some examples of applications of secondary data in marketing research?

    <p>Determining lifestyle and purchasing habits, international data, and public opinion.</p> Signup and view all the answers

    How might secondary data assist marketers in a newly proposed market territory?

    <p>By providing information about demographics to help forecast the size of the market.</p> Signup and view all the answers

    Which type of data is used for database marketing?

    <p>Internal secondary data</p> Signup and view all the answers

    What does a database refer to in the context of marketing?

    <p>A collection of data and information describing items of interest.</p> Signup and view all the answers

    What is the process of data mining related to in marketing?

    <p>The process of determining lifestyle and purchasing habits through analyzing large datasets.</p> Signup and view all the answers

    What type of information might secondary data provide to marketers in a crisis situation?

    <p>Insight into consumer concerns during a crisis situation.</p> Signup and view all the answers

    In the context of healthcare plans, which type emphasizes cost control by limiting the choice of doctors and hospitals?

    <p>Health Maintenance Organizations (HMOs)</p> Signup and view all the answers

    What is the defining feature of open-access Health Maintenance Organizations (HMOs) in terms of coverage?

    <p>They require a copayment for services within the network</p> Signup and view all the answers

    Which type of Health Maintenance Organization (HMO) owns the medical facilities?

    <p>Staff model HMOs</p> Signup and view all the answers

    What is the main characteristic of Fee-for-Service plans in terms of healthcare provider selection?

    <p>Participants can select any licensed physician, surgeon, or medical facility</p> Signup and view all the answers

    What is the key characteristic of Managed Care plans in terms of payment of benefits?

    <p>They pay benefits on a reimbursement basis</p> Signup and view all the answers

    Which type of insurance may cover routine and necessary dental procedures?

    <p>Dental fee-for-service plans</p> Signup and view all the answers

    Under which federal law are employers required to treat pregnancy as other disabilities?

    <p>Pregnancy Discrimination Act of 1978</p> Signup and view all the answers

    Which type of health maintenance organization is most similar to HMOs?

    <p>Dental maintenance organizations</p> Signup and view all the answers

    What do prescription card programs offer?

    <p>Prepaid benefits with nominal copayments</p> Signup and view all the answers

    What do dental service corporations represent?

    <p>Nonprofits owned by state dental associations</p> Signup and view all the answers

    What has contributed to the more than 450% increase in costs since 1984?

    <p>Tendency to treat death as unnatural</p> Signup and view all the answers

    Which act includes amendments like COBRA, HIPAA, and Women’s Health and Cancer Rights Act of 1998?

    <p>ERISA</p> Signup and view all the answers

    What is the purpose of the American with Disabilities Act of 1990 (ADA)?

    <p>To ensure enforcement of the ADA by EEOC</p> Signup and view all the answers

    Which regulation is associated with HMOs being regulated at federal and state levels?

    <p>HMOA</p> Signup and view all the answers

    What do companies known for 'pay or play' do when they 'fail to offer affordable coverage'?

    <p>$2160/year</p> Signup and view all the answers

    In a preferred provider organization (PPO), what is the main reason for providers agreeing to provide services at a lower level of reimbursement?

    <p>To ensure a higher level of patient load</p> Signup and view all the answers

    How does an exclusive provider organization (EPO) differ from a preferred provider organization (PPO)?

    <p>EPOs require a primary care physician while PPOs do not</p> Signup and view all the answers

    What is the key difference between a point-of-service (POS) plan and preferred provider organization (PPO)?

    <p>POS plans do not require a primary care physician while PPOs do</p> Signup and view all the answers

    What common feature do point-of-service (POS) plans and preferred provider organizations (PPO) share?

    <p>Both plans require coinsurance from employees</p> Signup and view all the answers

    What must employees do before the health-care plan pays for benefits according to the text?

    <p>Meet a deductible or pay for services</p> Signup and view all the answers

    What is the term for the maximum amount a health-care plan would cover for an individual's lifetime?

    <p>Lifetime limits</p> Signup and view all the answers

    In the context of health-care plans, what do high-deductible health insurance plans (HDHPs) require?

    <p>High deductibles and low out-of-pocket maximums</p> Signup and view all the answers

    What is the purpose of preadmission certification of medical necessity for hospitalization in health-care plans?

    <p>To ensure the medical necessity of hospitalization</p> Signup and view all the answers

    Which term refers to the percentage paid by the insured after meeting the deductible?

    <p>Coinsurance</p> Signup and view all the answers

    What is the term for a contract agreement to provide special health-care services separate from the main plan?

    <p>Carve-out plan</p> Signup and view all the answers

    Which act in the United States established Medicare and Medicaid?

    <p>Patient Protection and Affordable Care Act (PPACA)</p> Signup and view all the answers

    What was one of the consequences of demand exceeding supply in the 1960s?

    <p>Inflation of health care costs</p> Signup and view all the answers

    What protective act was introduced in the 1970s to safeguard employees' interests?

    <p>ERISA</p> Signup and view all the answers

    Which event led to the establishment of non-profit Blue Cross in the late 1930s?

    <p>The Great Depression</p> Signup and view all the answers

    In the context of fully insured plans, who assumes the risk for paying medical claims?

    <p>Insurance companies</p> Signup and view all the answers

    What type of coverage extends the healthcare plan to most or all employees in an organization?

    <p>Group coverage</p> Signup and view all the answers

    How do insurers determine premiums for fully insured plans?

    <p>Using mortality tables and morbidity tables</p> Signup and view all the answers

    What is the primary characteristic of self-funded plans?

    <p>Employer assumes risk for claims</p> Signup and view all the answers

    What specifies the amount the insurer pays for medical claims in fully insured plans?

    <p>The insurance policy</p> Signup and view all the answers

    In self-funded plans, who chooses the benefits to offer and pays for claims?

    <p>Employers</p> Signup and view all the answers

    What is the main difference between individual coverage and group coverage in healthcare plans?

    <p>Extent of coverage</p> Signup and view all the answers

    What determines terms and premium amounts in fully insured plans?

    <p>Mortality tables and morbidity tables</p> Signup and view all the answers

    What is the primary responsibility of employers in self-funded plans?

    <p>Choosing benefits to offer and paying for claims</p> Signup and view all the answers

    What determines the premium amounts in self-funded plans?

    <p>Employers' financial standing</p> Signup and view all the answers

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