MKTG 482 Exam 1 Questions And Correct
Answers 100% Verified
Marketing - Correct Answer - the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and society at
large.
marketing concept - Correct Answer - business philosophy that holds that the key to achieving
organizational goals consists of the company's being more effective than competitors in creating,
delivering, and communicating customer value to its chosen target markets.
marketing strategy - Correct Answer - consists of selecting a segment of the market as the company's
target market and designing the proper "mix" of the product/service, price, promotion, and distribution
system to meet the wants and needs of the consumers within the target market
Marketing research - Correct Answer - the process of designing, gathering, analyzing, and reporting
information that may be used to solve a specific marketing problem
Marketing research (AMA Definition) - Correct Answer - the function that links the consumer, customer,
and public to the marketer through information - information used to identify and define marketing
opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing
performance; and improve the understanding of marketing as a process
Market research - Correct Answer - a process used to define the size, location, and/or makeup of the
market for a product or service
Marketing research links - Correct Answer - the consumer to the marketer by providing information that
can be used in making marketing decisions
Uses of Marketing Research - Correct Answer - Identify marketing opportunities and problems
Generate, refine, and evaluate potential marketing actions
Monitor marketing performance
Basic research - Correct Answer - conducted to expand our knowledge rather than to solve a specific
problem
, Applied research - Correct Answer - conducted to solve specific problems.
The Marketing Information System - Correct Answer - a structure consisting of people, equipment, and
procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to
marketing decision makers.
Components of an MIS - Correct Answer - Internal Reports System
Marketing Intelligence System
Marketing Decision Support System (DSS)
Marketing Research System
Client-side research - Correct Answer - organizations that supply their own marketing research
information
Internal suppliers - Correct Answer - Formal departments or individuals conduct research internally.
DYI research - Correct Answer - facilitated by Internet, firms have access to secondary data, online
survey platforms and better knowledge of data analysis software such as SPSS
Supply-side research - Correct Answer - External suppliers hired to fulfill a company's marketing research
needs.
Supplier or agency - Correct Answer - firm specializing in marketing research that offers its services to
buyers needing information to make more informed decisions.
Full-service supplier firms - Correct Answer - have the capability to conduct the entire marketing
research project for buyer firms.
Limited-service supplier firms - Correct Answer - specialize in one or, at most, a few marketing research
activities.
Problem - Correct Answer - any situation in which a manager must make a choice among decision
alternatives
Failures - Correct Answer - inability to meet specified objectives
Opportunities - Correct Answer - potential areas of profitability
Research objectives - Correct Answer - specific and tell the researcher exactly what information must be
collected, including:
From whom information is to be gathered
What information is needed
The unit of measurement to be used to gather information
action standard - Correct Answer - a predesignation of some quantity of a measured attribute or
characteristic that must be achieved for a research objective for a predetermined action to take place.
Answers 100% Verified
Marketing - Correct Answer - the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and society at
large.
marketing concept - Correct Answer - business philosophy that holds that the key to achieving
organizational goals consists of the company's being more effective than competitors in creating,
delivering, and communicating customer value to its chosen target markets.
marketing strategy - Correct Answer - consists of selecting a segment of the market as the company's
target market and designing the proper "mix" of the product/service, price, promotion, and distribution
system to meet the wants and needs of the consumers within the target market
Marketing research - Correct Answer - the process of designing, gathering, analyzing, and reporting
information that may be used to solve a specific marketing problem
Marketing research (AMA Definition) - Correct Answer - the function that links the consumer, customer,
and public to the marketer through information - information used to identify and define marketing
opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing
performance; and improve the understanding of marketing as a process
Market research - Correct Answer - a process used to define the size, location, and/or makeup of the
market for a product or service
Marketing research links - Correct Answer - the consumer to the marketer by providing information that
can be used in making marketing decisions
Uses of Marketing Research - Correct Answer - Identify marketing opportunities and problems
Generate, refine, and evaluate potential marketing actions
Monitor marketing performance
Basic research - Correct Answer - conducted to expand our knowledge rather than to solve a specific
problem
, Applied research - Correct Answer - conducted to solve specific problems.
The Marketing Information System - Correct Answer - a structure consisting of people, equipment, and
procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to
marketing decision makers.
Components of an MIS - Correct Answer - Internal Reports System
Marketing Intelligence System
Marketing Decision Support System (DSS)
Marketing Research System
Client-side research - Correct Answer - organizations that supply their own marketing research
information
Internal suppliers - Correct Answer - Formal departments or individuals conduct research internally.
DYI research - Correct Answer - facilitated by Internet, firms have access to secondary data, online
survey platforms and better knowledge of data analysis software such as SPSS
Supply-side research - Correct Answer - External suppliers hired to fulfill a company's marketing research
needs.
Supplier or agency - Correct Answer - firm specializing in marketing research that offers its services to
buyers needing information to make more informed decisions.
Full-service supplier firms - Correct Answer - have the capability to conduct the entire marketing
research project for buyer firms.
Limited-service supplier firms - Correct Answer - specialize in one or, at most, a few marketing research
activities.
Problem - Correct Answer - any situation in which a manager must make a choice among decision
alternatives
Failures - Correct Answer - inability to meet specified objectives
Opportunities - Correct Answer - potential areas of profitability
Research objectives - Correct Answer - specific and tell the researcher exactly what information must be
collected, including:
From whom information is to be gathered
What information is needed
The unit of measurement to be used to gather information
action standard - Correct Answer - a predesignation of some quantity of a measured attribute or
characteristic that must be achieved for a research objective for a predetermined action to take place.
