Marketing381, WWU Dan Purdy Midterm (Ch1-8)
study guide fully solved already passed
1. Marketing Concept business philosophy that holds the key to achieving
organizational
goals. Consists of company being more ettective than
competitors in creating, delivering, and communicating
customer value.
2. Marketing Strategy Selecting a segment of the market as the company's target
market
and designing the proper mix to meet needs and wants of
that consumer within the target market.
3. Marketing Research Process of designing, gathering, analyzing, and reporting
objective,
accurate, and timely information that may be used to solve a
specific marketing problem.
4. Marketing A structure consisting of people, equipment, and procedures
Information to gath- er, sort, analyze, evaluate and distribute needed,
System (MIS) timely, and accurate information to marketing decision
makers.
5. Components of MIS (4) 1. Internal reports system -past sales patterns
2. Marketing intelligence system -competitive information,
trends, climate change. External.
3. Marketing decisions support system -breakeven
analyses of possi- ble new modes, what if scenarios
4. Market Research System- Gathers information not
gathered by other MIS components, Conducted for specific
situation facing the company, has beginning and end
6. Applied research conducted to solve specific problems
is the vast majority of marketing research studies
1/
30
,Marketing381, WWU Dan Purdy Midterm (Ch1-8)
study guide fully solved already passed
7. Basic research conducted to expand our knowledge rather than to solve a
specific
problem
8. Purpose of MR To link the consumer to the marketer by providing information
that
can be used in making decisions
2/
30
, Marketing381, WWU Dan Purdy Midterm (Ch1-8)
study guide fully solved already passed
9. General idea of the -Identifying the marketing opportunities and ideas
types of -generate, refine, and evaluate potential marketing actions
problems/issues/top- -monitor marketing performance, measure brand and
ics that are conducted customer en- gagement
by marketing -improve marketing as a process
researchers
10. Trends in MR -$41.2 billion spent annually
-3-5% growth rate
-83% of MR venders have less than 20 employees
-Developing countries show fastest growth
11. Perceived problems -lack of creativity
of MR -too focused on techniques
-lack of high quality researchers (commodity)
-lack of understanding of the real problem
-lack of concern form respondents
-cavalier attitudes regarding nonresponse error
-price of research too high relative to its value
-sugging (Sales) and frugging (Fundraising)
12. External Suppliers Outside firms hired to fulfill a company's marketing research
needs
"agency"
13. Internal suppliers -Organizations that supply their own MR information
-"Client side research/DIY"
14. Ethical Issues facing
MR industry
15. Deontologist
3/
30
study guide fully solved already passed
1. Marketing Concept business philosophy that holds the key to achieving
organizational
goals. Consists of company being more ettective than
competitors in creating, delivering, and communicating
customer value.
2. Marketing Strategy Selecting a segment of the market as the company's target
market
and designing the proper mix to meet needs and wants of
that consumer within the target market.
3. Marketing Research Process of designing, gathering, analyzing, and reporting
objective,
accurate, and timely information that may be used to solve a
specific marketing problem.
4. Marketing A structure consisting of people, equipment, and procedures
Information to gath- er, sort, analyze, evaluate and distribute needed,
System (MIS) timely, and accurate information to marketing decision
makers.
5. Components of MIS (4) 1. Internal reports system -past sales patterns
2. Marketing intelligence system -competitive information,
trends, climate change. External.
3. Marketing decisions support system -breakeven
analyses of possi- ble new modes, what if scenarios
4. Market Research System- Gathers information not
gathered by other MIS components, Conducted for specific
situation facing the company, has beginning and end
6. Applied research conducted to solve specific problems
is the vast majority of marketing research studies
1/
30
,Marketing381, WWU Dan Purdy Midterm (Ch1-8)
study guide fully solved already passed
7. Basic research conducted to expand our knowledge rather than to solve a
specific
problem
8. Purpose of MR To link the consumer to the marketer by providing information
that
can be used in making decisions
2/
30
, Marketing381, WWU Dan Purdy Midterm (Ch1-8)
study guide fully solved already passed
9. General idea of the -Identifying the marketing opportunities and ideas
types of -generate, refine, and evaluate potential marketing actions
problems/issues/top- -monitor marketing performance, measure brand and
ics that are conducted customer en- gagement
by marketing -improve marketing as a process
researchers
10. Trends in MR -$41.2 billion spent annually
-3-5% growth rate
-83% of MR venders have less than 20 employees
-Developing countries show fastest growth
11. Perceived problems -lack of creativity
of MR -too focused on techniques
-lack of high quality researchers (commodity)
-lack of understanding of the real problem
-lack of concern form respondents
-cavalier attitudes regarding nonresponse error
-price of research too high relative to its value
-sugging (Sales) and frugging (Fundraising)
12. External Suppliers Outside firms hired to fulfill a company's marketing research
needs
"agency"
13. Internal suppliers -Organizations that supply their own MR information
-"Client side research/DIY"
14. Ethical Issues facing
MR industry
15. Deontologist
3/
30
