Managing Information for Marketing Insights Flashcards

A company's marketing information system (MIS) combines internal records, marketing intelligence, and marketing research. The PRIMARY purpose of an MIS is to:

Answer: Provide continuous, organized flows of information to support marketing decisions

An MIS continuously gathers, sorts, analyzes, and distributes relevant information to marketing managers to support better decision-making.

Which of the following is an example of observational primary research?

Answer: Recording shopper eye movements and dwell time in a store aisle

Observational research collects data by watching and recording behavior rather than asking participants questions, such as tracking where shoppers look or how long they linger.

A marketer reviewing A/B test results must determine whether the observed difference in conversion rates is due to the variable tested or to random chance. This is assessed through:

Answer: Statistical significance testing

Statistical significance testing (e.g., a t-test or chi-square test) determines the probability that observed differences are real and not due to random variation.

Data governance in a marketing organization is BEST described as:

Answer: Policies, processes, and standards that ensure data quality, security, and appropriate use across the organization

Data governance establishes the rules, roles, and processes organizations use to manage data quality, privacy, security, and ethical use on an ongoing basis.

A marketer wants to understand the 'why' behind declining brand loyalty among millennials. The MOST appropriate primary research method is:

Answer: Conducting focus groups or in-depth interviews

Focus groups and in-depth interviews are qualitative methods that explore motivations, feelings, and perceptions—ideal for understanding the 'why' behind behavioral trends.

The concept of 'data democratization' in marketing means:

Answer: Making data accessible to all relevant team members, not just analysts, to drive wider data-informed decision-making

Data democratization removes barriers to data access so that marketers at all levels—not only data scientists—can use data to inform their decisions.

Which analytical approach would a marketer use to identify which combination of product features customers value most?

Answer: Conjoint analysis

Conjoint analysis presents customers with trade-off scenarios to reveal which product attributes or combinations they value most.