Mkt 352 Exam 1 Question and answers
already passed 2025/2026
What is Marketing Concept? - correct answer ✔A business philosophy that holds that the key to
achieving organizational goals consists of the company's ability to be more effective than competitors in
creating, delivering, and communicating customer value to its chosen markets.
Marketing Strategy - correct answer ✔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.
Segment --> target --> differentiate
What attributes should the ANSWER have? - correct answer ✔Objective
Accurate
Timely
Big data - correct answer ✔a term that describes the large volume of data that inundates a business on
a day-to-day basis. But it's not the amount of data that's important. It's what organizations do with the
data that matters.
generating information - correct answer ✔Designing, Gathering, Analyzing, Reporting
market research - correct answer ✔The systematic gathering, recording, and analyzing of data with
respect to a particular market, where market refers to a specific group in a specific geographic area.
uses of marketing research - correct answer ✔-Identifying marketing opportunities and problems, -
Generate, refine, and evaluate potential marketing actions -Monitor marketing performance -Improve
marketing as a process
, Studies that generate, refine, and evaluate potential marketing actions - correct answer ✔Researching
the 4Ps, Proposed marketing-mix evaluation testing, New-product prototype testing, Advertising
pretesting
Studies that monitor marketing performance - correct answer ✔Image analysis, Tracking studies,
Customer satisfaction studies
MIS - 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
Information vs data - correct answer ✔information is meaningful data while data is just the numbers
and facts themselves
Marketing Research Process - correct answer ✔1.2.3. Specify what information is required
4.5.6.7.8. Design the method for collecting information
9. Implement the data collection
10. Analyze the results
11. Communicate the findings and their implications
Caveats about the process - correct answer ✔Not always 11-step process
Not all studies use all 11 steps
Secondary data might exist
Few studies follow the steps in order
already passed 2025/2026
What is Marketing Concept? - correct answer ✔A business philosophy that holds that the key to
achieving organizational goals consists of the company's ability to be more effective than competitors in
creating, delivering, and communicating customer value to its chosen markets.
Marketing Strategy - correct answer ✔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.
Segment --> target --> differentiate
What attributes should the ANSWER have? - correct answer ✔Objective
Accurate
Timely
Big data - correct answer ✔a term that describes the large volume of data that inundates a business on
a day-to-day basis. But it's not the amount of data that's important. It's what organizations do with the
data that matters.
generating information - correct answer ✔Designing, Gathering, Analyzing, Reporting
market research - correct answer ✔The systematic gathering, recording, and analyzing of data with
respect to a particular market, where market refers to a specific group in a specific geographic area.
uses of marketing research - correct answer ✔-Identifying marketing opportunities and problems, -
Generate, refine, and evaluate potential marketing actions -Monitor marketing performance -Improve
marketing as a process
, Studies that generate, refine, and evaluate potential marketing actions - correct answer ✔Researching
the 4Ps, Proposed marketing-mix evaluation testing, New-product prototype testing, Advertising
pretesting
Studies that monitor marketing performance - correct answer ✔Image analysis, Tracking studies,
Customer satisfaction studies
MIS - 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
Information vs data - correct answer ✔information is meaningful data while data is just the numbers
and facts themselves
Marketing Research Process - correct answer ✔1.2.3. Specify what information is required
4.5.6.7.8. Design the method for collecting information
9. Implement the data collection
10. Analyze the results
11. Communicate the findings and their implications
Caveats about the process - correct answer ✔Not always 11-step process
Not all studies use all 11 steps
Secondary data might exist
Few studies follow the steps in order
