BUAD 332 CORRECT EXAMS QUESTIONS AND
ANSWERS SET A+
✔✔technological environment - ✔✔most dramatic force now shaping our destiny
✔✔political environment - ✔✔laws, government agencies, and pressure groups that
influence or limit various organizations and individuals in a given society
✔✔cultural environment - ✔✔institutions and other forces that affect a society's basic
values, perceptions, preference, and behaviors
✔✔importance of information - ✔✔- customer needs
- marketing environment
- competition
✔✔assessing information needs - ✔✔good MIS balances information users would like
against what they really need and what is feasible to offer
✔✔internal databases - ✔✔electronic collections of information obtained from data
resources within the company (typically secondary data)
✔✔marketing intelligence - ✔✔systematic collection and analysis of publicly available
information about competitors and developments in the marketing environment (typically
secondary data)
✔✔marketing research - ✔✔systematic design, collection, analysis, and reporting of
data relevant to a specific marketing situation facing an organization (typically primary
data)
✔✔explolatory research - ✔✔gather preliminary information that will help define the
problem and suggest hypotheses
, ✔✔descriptive research - ✔✔describes things (e.g., market potential for a product,
demographics, and attitudes)
✔✔casual research - ✔✔tests hypotheses about cause-and-effect relationships
✔✔gathering secondary data - ✔✔- information that already exists somewhere
- available more quickly and at a lower cost than primary data
✔✔primary data collection - ✔✔- consists information collected for specific purpose at
hand
- must determine: research approach, contact methods, sampling plan, research
instruments
✔✔two types of primary research - ✔✔qualitative and quantitative
✔✔probability sampling - ✔✔simple random sample, stratified random sample
✔✔simple random sample - ✔✔every member of the population has an equal and
known probability of selection
✔✔stratified random sample - ✔✔population is divided into mutually exclusive groups
and each group is randomly sampled
✔✔non-probability sampling - ✔✔convenience sample, judgment sample
✔✔convenience sample - ✔✔researcher selects population based upon ease and
availability
✔✔judgment sample - ✔✔researcher strategically selects members who are good
representatives of the population
✔✔data mining - ✔✔process that accesses the company's internal data, and which then
transforms data into knowledge
✔✔what does data mining do? - ✔✔discovers patterns and relationships hidden in data
by using advanced statistical analysis and modeling techniques
✔✔data warehouse - ✔✔assembly of disparate data from all over the company, which
is then transformed into a consistent state for business decisions
✔✔customer profiliing - ✔✔identifying the characteristics of a "good" customer with the
goal of retaining those who are and predicting those who will/could become one
ANSWERS SET A+
✔✔technological environment - ✔✔most dramatic force now shaping our destiny
✔✔political environment - ✔✔laws, government agencies, and pressure groups that
influence or limit various organizations and individuals in a given society
✔✔cultural environment - ✔✔institutions and other forces that affect a society's basic
values, perceptions, preference, and behaviors
✔✔importance of information - ✔✔- customer needs
- marketing environment
- competition
✔✔assessing information needs - ✔✔good MIS balances information users would like
against what they really need and what is feasible to offer
✔✔internal databases - ✔✔electronic collections of information obtained from data
resources within the company (typically secondary data)
✔✔marketing intelligence - ✔✔systematic collection and analysis of publicly available
information about competitors and developments in the marketing environment (typically
secondary data)
✔✔marketing research - ✔✔systematic design, collection, analysis, and reporting of
data relevant to a specific marketing situation facing an organization (typically primary
data)
✔✔explolatory research - ✔✔gather preliminary information that will help define the
problem and suggest hypotheses
, ✔✔descriptive research - ✔✔describes things (e.g., market potential for a product,
demographics, and attitudes)
✔✔casual research - ✔✔tests hypotheses about cause-and-effect relationships
✔✔gathering secondary data - ✔✔- information that already exists somewhere
- available more quickly and at a lower cost than primary data
✔✔primary data collection - ✔✔- consists information collected for specific purpose at
hand
- must determine: research approach, contact methods, sampling plan, research
instruments
✔✔two types of primary research - ✔✔qualitative and quantitative
✔✔probability sampling - ✔✔simple random sample, stratified random sample
✔✔simple random sample - ✔✔every member of the population has an equal and
known probability of selection
✔✔stratified random sample - ✔✔population is divided into mutually exclusive groups
and each group is randomly sampled
✔✔non-probability sampling - ✔✔convenience sample, judgment sample
✔✔convenience sample - ✔✔researcher selects population based upon ease and
availability
✔✔judgment sample - ✔✔researcher strategically selects members who are good
representatives of the population
✔✔data mining - ✔✔process that accesses the company's internal data, and which then
transforms data into knowledge
✔✔what does data mining do? - ✔✔discovers patterns and relationships hidden in data
by using advanced statistical analysis and modeling techniques
✔✔data warehouse - ✔✔assembly of disparate data from all over the company, which
is then transformed into a consistent state for business decisions
✔✔customer profiliing - ✔✔identifying the characteristics of a "good" customer with the
goal of retaining those who are and predicting those who will/could become one
