Managing Information for Marketing Insights Flashcards
7 cards from real CPM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Managing Information for Marketing Insights flashcards as text
A marketing analyst notices that customer survey responses differ significantly from actual purchase behavior. This discrepancy is best addressed by:
Answer: Triangulating with behavioral data such as purchase records and web analytics
Triangulating multiple data sources—survey responses alongside behavioral data—helps reconcile discrepancies and produces more accurate insights.
Which type of marketing research design is most appropriate when a company wants to understand the cause-and-effect relationship between a price change and sales volume?
Answer: Causal research
Causal (experimental) research is designed to establish cause-and-effect relationships by manipulating one variable and measuring its impact on another.
In a marketing database, 'data hygiene' refers to:
Answer: The process of cleaning, deduplicating, and standardizing data to ensure accuracy
Data hygiene involves cleaning, deduplicating, and standardizing records so that the marketing database remains accurate and actionable.
A firm uses geographic information systems (GIS) in its marketing intelligence. The PRIMARY benefit of GIS for marketers is:
Answer: Visualizing spatial patterns in customer demographics and sales data
GIS enables marketers to map and analyze spatial relationships in data, revealing geographic patterns in customer distribution and sales performance.
Which of the following BEST describes 'customer lifetime value' (CLV) as an information management metric?
Answer: The predicted net profit attributed to the entire future relationship with a customer
CLV estimates the total net profit a business can expect from a customer over the entire duration of the relationship, guiding acquisition and retention investments.
When evaluating secondary data sources for marketing research, a marketer should FIRST assess:
Answer: The relevance, accuracy, currency, and impartiality of the data
Before using secondary data, marketers must evaluate its relevance to the problem, accuracy, how current it is, and whether the source is impartial.
A retail chain tracks which products customers purchase together in the same transaction. This analytical technique is called:
Answer: Market basket analysis
Market basket analysis identifies associations between products frequently purchased together, enabling cross-selling and merchandising strategies.