18 Questions
What is the main focus of the marketing information system?
Understanding and meeting users' information needs
Which of the following is NOT a source of information in the marketing information system?
Personal interviews with customers
What is the purpose of competitive marketing intelligence?
Analyzing publicly available information about competitors
What advantage do internal databases offer in comparison to other sources of information?
Quicker and cheaper access to information
Why is it essential for marketers to obtain customer characteristics and preferences as part of marketing information?
To tailor products and services to meet consumer needs
What role do marketing channel partners play in providing data for the marketing information system?
Supplying data on sales transactions
What is big data in the context of marketing?
Complex and huge data sets generated by sophisticated technologies
What does a Marketing Information System (MIS) help with?
Providing information to company's managers and external partners
How does a good marketing information system balance information needs?
Balancing user wants with actual needs and feasibility
Why must a company assess the value of insights gained from additional information?
To determine if insights are worth the costs of obtaining additional information
What is the main role of a Marketing Information System (MIS) in generating insights?
Helping decision makers use information to generate actionable insights
Why do marketers need better information according to the text?
To make better use of the information they already have
What was the primary reason the research executive predicted the failure of the Star Wars film?
The film had the word 'war' in its title, which was off-putting after the Vietnam War
What is the primary distinction made in the text between marketing information and customer insights?
Marketing information has little value on its own, but customer insights derived from it are valuable
Which of the following is NOT mentioned in the text as a characteristic of customer insights?
They are derived from complex statistical analysis
What is the primary source of marketing information mentioned?
Big data generated by modern technologies
What is the primary role of marketing research, as implied in the text?
To generate customer insights that lead to better decision-making
Which of the following statements best summarizes the main point made in the text?
Marketing information alone is insufficient; insights derived from it are crucial for success
Test your knowledge on marketing information, customer insights, and big data in today's digital era. Learn about the importance of better information usage for marketers and the impact of wide variety of sources in data generation.
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