BUAD 332 MOON EXAM 2
CERTIFICATION QUESTIONS WITH ALL
CORRECT ANSWERS GRADED A+
Marketing Intermediaries - Answer-help the company promote, sell, and distribute its
products to final buyers
-resellers (amazon)
-physical distribution firms (fedex)
-marketing services agencies (Tombras)
-financial intermediaries (TVA credit union)
Customers - Answer-five types of markets that purchase a company's good sand
services
1. consumer markets
2. business markets
3. reseller markets
4. government markets
5. international markets (includes other 4)
Cmpetitors - Answer-those who serve a target market with products and services that
are viewed by consumers as being reasonable substitutes
Publics - Answer-any group that has an actual or potential interest in or impact on an
organization's ability to achieve its objectives
-financial
-media\government
-citizen-action
-local
-general
Demographic - Answer-marketers track changing age, family structures, geographic
population shifts, educational characteristics, and population density
Economic - Answer-factors that affect consumer purchasing power and spending
patterns
-ex: extreme weather, healthcare, federal debt, oil/gas prices
Natural - Answer-involves the natural resources that are needed as inputs by marketers
or that are affected by marketing activities
-ex: shortage of raw materials, increased pollution, global climate change (neodymium)
Technological - Answer-most dramatic force now shaping our destiny
, Political - Answer-includes laws, gov. agencies, and pressure groups that influence or
limit various organizations and individuals in a given society
Cultural - Answer-the institutions and other forces that affect a society's basic values,
perceptions, preference and behaviors
Do companies need more info? - Answer-No, they need better info
Assessing Info Needs - Answer-a good balance of what users would like versus what
they need and what is feasible to offer
Secondary Data - Answer-Info that already exists somewhere, quicker and cheaper
than primary data
-internal database/marketing intelligence
Primary Data - Answer-info for a specific purpose at hand
-marketing research
-qualitative (observations, interviews, focus-groups)
-quantitative (survey, experiment,"big data")
Internal Database - Answer-electronic collections of consumer and market information
obtained from data sources within the company network
Marketing Intelligence - Answer-the systematic collection and analysis of publicly
available information about consumers, competitors, and developments in the marketing
environment
Marketing Research - Answer-the systematic design, collection, analysis, and reporting
of data relevant to a specific marketing situation facing an organization
Exploratory Research - Answer-marketing research to gather preliminary information
that will help define problems and suggest hypotheses
Descriptive Research - Answer-marketing research to better describe marketing
problems, situations, or markets (market potential for a product or the demographics
and attitudes of consumers)
Causal Research - Answer-marketing research to test hypotheses about cause-and-
effect relationships
Surveys - Answer--most commonly used method of collecting data for marketers
-heavily scaled/categorized responses
Simple Random Sample - Answer-every member of the population has a known and
equal chance of selection
CERTIFICATION QUESTIONS WITH ALL
CORRECT ANSWERS GRADED A+
Marketing Intermediaries - Answer-help the company promote, sell, and distribute its
products to final buyers
-resellers (amazon)
-physical distribution firms (fedex)
-marketing services agencies (Tombras)
-financial intermediaries (TVA credit union)
Customers - Answer-five types of markets that purchase a company's good sand
services
1. consumer markets
2. business markets
3. reseller markets
4. government markets
5. international markets (includes other 4)
Cmpetitors - Answer-those who serve a target market with products and services that
are viewed by consumers as being reasonable substitutes
Publics - Answer-any group that has an actual or potential interest in or impact on an
organization's ability to achieve its objectives
-financial
-media\government
-citizen-action
-local
-general
Demographic - Answer-marketers track changing age, family structures, geographic
population shifts, educational characteristics, and population density
Economic - Answer-factors that affect consumer purchasing power and spending
patterns
-ex: extreme weather, healthcare, federal debt, oil/gas prices
Natural - Answer-involves the natural resources that are needed as inputs by marketers
or that are affected by marketing activities
-ex: shortage of raw materials, increased pollution, global climate change (neodymium)
Technological - Answer-most dramatic force now shaping our destiny
, Political - Answer-includes laws, gov. agencies, and pressure groups that influence or
limit various organizations and individuals in a given society
Cultural - Answer-the institutions and other forces that affect a society's basic values,
perceptions, preference and behaviors
Do companies need more info? - Answer-No, they need better info
Assessing Info Needs - Answer-a good balance of what users would like versus what
they need and what is feasible to offer
Secondary Data - Answer-Info that already exists somewhere, quicker and cheaper
than primary data
-internal database/marketing intelligence
Primary Data - Answer-info for a specific purpose at hand
-marketing research
-qualitative (observations, interviews, focus-groups)
-quantitative (survey, experiment,"big data")
Internal Database - Answer-electronic collections of consumer and market information
obtained from data sources within the company network
Marketing Intelligence - Answer-the systematic collection and analysis of publicly
available information about consumers, competitors, and developments in the marketing
environment
Marketing Research - Answer-the systematic design, collection, analysis, and reporting
of data relevant to a specific marketing situation facing an organization
Exploratory Research - Answer-marketing research to gather preliminary information
that will help define problems and suggest hypotheses
Descriptive Research - Answer-marketing research to better describe marketing
problems, situations, or markets (market potential for a product or the demographics
and attitudes of consumers)
Causal Research - Answer-marketing research to test hypotheses about cause-and-
effect relationships
Surveys - Answer--most commonly used method of collecting data for marketers
-heavily scaled/categorized responses
Simple Random Sample - Answer-every member of the population has a known and
equal chance of selection
