Question

15 multiple choice 2.5 points
______ search for information is likely when past experience or knowledge is insufficient, the risk of making a wrong purchase decision is high, and the cost of gathering information is low.
○ an external
○ a postpurchase
○ an alternative
○ an internal
○ a cognitive
16 multiple choice 2.5 points
the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions is referred to as:
○ strategic intelligence.
○ marketing tactics.
○ marketing research
○ data mining.
○ marketing enquiry.

Explanation:

For question 15: External information search occurs when internal (past experience/knowledge) is insufficient, especially if decision risk is high and search cost is low.
For question 16: Marketing research is defined as the systematic process of identifying marketing problems/opportunities, collecting/analyzing data, and suggesting actions.

Answer:

1. An external
2. marketing research