CPM Managing Information for Marketing Insights 2 — Questions and Answers
Question 1: A marketing analyst notices that customer survey responses differ significantly from actual purchase behavior. This discrepancy is best addressed by:
- Discarding the survey data entirely
- Triangulating with behavioral data such as purchase records and web analytics (Correct answer)
- Increasing the survey sample size only
- Changing the survey questions to match observed behavior
Correct 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.
Question 2: 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?
- Exploratory research
- Descriptive research
- Causal research (Correct answer)
- Ethnographic research
Correct answer: Causal research
Causal (experimental) research is designed to establish cause-and-effect relationships by manipulating one variable and measuring its impact on another.
Question 3: In a marketing database, 'data hygiene' refers to:
- Encrypting sensitive customer data for security
- The process of cleaning, deduplicating, and standardizing data to ensure accuracy (Correct answer)
- Archiving outdated records to cold storage
- Removing personally identifiable information for compliance
Correct 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.
Question 4: A firm uses geographic information systems (GIS) in its marketing intelligence. The PRIMARY benefit of GIS for marketers is:
- Automating social media content creation
- Visualizing spatial patterns in customer demographics and sales data (Correct answer)
- Tracking individual website visitor sessions
- Predicting stock market fluctuations
Correct 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.
Question 5: Which of the following BEST describes 'customer lifetime value' (CLV) as an information management metric?
- The total revenue a customer generates in a single transaction
- The predicted net profit attributed to the entire future relationship with a customer (Correct answer)
- The average order value across all customers in a segment
- The cost to acquire one new customer through paid advertising
Correct 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.
Question 6: When evaluating secondary data sources for marketing research, a marketer should FIRST assess:
- Whether the data format is compatible with their CRM system
- The relevance, accuracy, currency, and impartiality of the data (Correct answer)
- The visual design of the report from which data was drawn
- Whether the data was collected using online methods
Correct 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.
Question 7: A retail chain tracks which products customers purchase together in the same transaction. This analytical technique is called:
- Regression analysis
- Market basket analysis (Correct answer)
- Cluster sampling
- Sentiment analysis
Correct answer: Market basket analysis
Market basket analysis identifies associations between products frequently purchased together, enabling cross-selling and merchandising strategies.
CPM Managing Information for Marketing Insights 2
A marketing analyst notices that customer survey responses differ significantly from actual purchase behavior.
This discrepancy is best addressed by: