MKTG 482 Exam 1 Questions And Correct Answers 100% Verified
Marketing - 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 - 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 - 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 - ANSWER the process of designing, gathering, analyzing, and
reporting information that may be used to solve a specific marketing problem
Marketing research (AMA Definition) - 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 - ANSWER a process used to define the size, location, and/or makeup
of the market for a product or service
Marketing research links - ANSWER the consumer to the marketer by providing
information that can be used in making marketing decisions
Uses of Marketing Research - ANSWER Identify marketing opportunities and problems
Generate, refine, and evaluate potential marketing actions
, Monitor marketing performance
Basic research - ANSWER conducted to expand our knowledge rather than to solve a
specific problem
Applied research - ANSWER conducted to solve specific problems.
The Marketing Information System - 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 - ANSWER Internal Reports System
Marketing Intelligence System
Marketing Decision Support System (DSS)
Marketing Research System
Client-side research - ANSWER organizations that supply their own marketing
research information
Internal suppliers - ANSWER Formal departments or individuals conduct research
internally.
DYI research - 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 - ANSWER External suppliers hired to fulfill a company's
marketing research needs.
Supplier or agency - ANSWER firm specializing in marketing research that offers its
services to buyers needing information to make more informed decisions.
Marketing - 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 - 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 - 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 - ANSWER the process of designing, gathering, analyzing, and
reporting information that may be used to solve a specific marketing problem
Marketing research (AMA Definition) - 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 - ANSWER a process used to define the size, location, and/or makeup
of the market for a product or service
Marketing research links - ANSWER the consumer to the marketer by providing
information that can be used in making marketing decisions
Uses of Marketing Research - ANSWER Identify marketing opportunities and problems
Generate, refine, and evaluate potential marketing actions
, Monitor marketing performance
Basic research - ANSWER conducted to expand our knowledge rather than to solve a
specific problem
Applied research - ANSWER conducted to solve specific problems.
The Marketing Information System - 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 - ANSWER Internal Reports System
Marketing Intelligence System
Marketing Decision Support System (DSS)
Marketing Research System
Client-side research - ANSWER organizations that supply their own marketing
research information
Internal suppliers - ANSWER Formal departments or individuals conduct research
internally.
DYI research - 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 - ANSWER External suppliers hired to fulfill a company's
marketing research needs.
Supplier or agency - ANSWER firm specializing in marketing research that offers its
services to buyers needing information to make more informed decisions.
