La Tech MKTG 482 Flurry Exam 1 Chp
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1-5 questions with answers
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What is marketing? - CORRECT ANSWERS ✔✔The activity, set of
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institutions, and processes for creating, communicating,
|\ |\ |\ |\ |\ |\
delivering, and exchanging offerings that have value for
|\ |\ |\ |\ |\ |\ |\ |\
customers, clients, partners, and society at large. (Find what the
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customer wants and deliver it) |\ |\ |\ |\
What is the Marketing Concept? - CORRECT ANSWERS ✔✔A
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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 |\ |\ |\ |\ |\ |\ |\
What is a Marketing Strategy? - CORRECT ANSWERS ✔✔It
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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.
What is Marketing Research? - CORRECT ANSWERS ✔✔The
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process of designing, gathering, analyzing, and reporting
|\ |\ |\ |\ |\ |\ |\
information that may be used to solve a specific marketing
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
problem.
,What is Market Research, in terms of a process, used to define? -
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CORRECT ANSWERS ✔✔The size, location, and/or makeup of the
|\ |\ |\ |\ |\ |\ |\ |\ |\
market for a product or service
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Marketing research links - CORRECT ANSWERS ✔✔The consumer
|\ |\ |\ |\ |\ |\ |\ |\
to the marketer by providing information that can be used in
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
making marketing decisions |\ |\
Uses of marketing research (3) - CORRECT ANSWERS ✔✔1. Find
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
opportunities/problems, |\
2. generate and refine and choose potential marketing actions,
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3. and to monitor marketing performance
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How has measuring success changed over the years? - CORRECT
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ANSWERS ✔✔It shifted from customer satisfaction to trending on
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social media |\
What is a scanner database and how are cameras used in
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research - CORRECT ANSWERS ✔✔It tracks people's purchases
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and cameras track store traffic
|\ |\ |\ |\
Potential Marketing actions (5) - CORRECT ANSWERS ✔✔1.
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Selecting target markets |\ |\
2. Product research
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3. Pricing research
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4. Promotion research
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5. Distribution research
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, Basic Research - CORRECT ANSWERS ✔✔Conducted to expand
|\ |\ |\ |\ |\ |\ |\ |\
knowledge rather to solve a specific problem |\ |\ |\ |\ |\ |\
Applied research - CORRECT ANSWERS ✔✔Conducted to solve a
|\ |\ |\ |\ |\ |\ |\ |\ |\
specific problem |\
Why is marketing research difficult (4) - CORRECT ANSWERS
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✔✔1. Understanding and predicting consumer behavior is hard
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2. $ is usually low
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3. Time constraints
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4. Always a degree of error
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The Marketing Information System (MIS) - CORRECT ANSWERS
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✔✔A structure of people, equipment, and procedures to gather,
|\ |\ |\ |\ |\ |\ |\ |\ |\
sort, analyze evaluate and distribute needed, timely and
|\ |\ |\ |\ |\ |\ |\ |\
accurate information to marketing decision makers
|\ |\ |\ |\ |\
Components of MIS (4) - CORRECT ANSWERS ✔✔1. Internal |\ |\ |\ |\ |\ |\ |\ |\ |\
Reports System |\
2. Marketing Intelligence system
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3. Marketing Decision Support System (DSS) - uses database and
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
math to make future decisons
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4. Marketing Research System
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Charles Coolidge Parlin - CORRECT ANSWERS ✔✔Father of
|\ |\ |\ |\ |\ |\ |\ |\
Marketing Research, conducted the first continuous marketing
|\ |\ |\ |\ |\ |\ |\
|\ |\ |\ |\ |\ |\ |\ |\
1-5 questions with answers
|\ |\ |\
What is marketing? - CORRECT ANSWERS ✔✔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. (Find what the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
customer wants and deliver it) |\ |\ |\ |\
What is the Marketing Concept? - CORRECT ANSWERS ✔✔A
|\ |\ |\ |\ |\ |\ |\ |\ |\
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 |\ |\ |\ |\ |\ |\ |\
What is a Marketing Strategy? - CORRECT ANSWERS ✔✔It
|\ |\ |\ |\ |\ |\ |\ |\ |\
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.
What is Marketing Research? - CORRECT ANSWERS ✔✔The
|\ |\ |\ |\ |\ |\ |\ |\
process of designing, gathering, analyzing, and reporting
|\ |\ |\ |\ |\ |\ |\
information that may be used to solve a specific marketing
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
problem.
,What is Market Research, in terms of a process, used to define? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔The size, location, and/or makeup of the
|\ |\ |\ |\ |\ |\ |\ |\ |\
market for a product or service
|\ |\ |\ |\ |\
Marketing research links - CORRECT ANSWERS ✔✔The consumer
|\ |\ |\ |\ |\ |\ |\ |\
to the marketer by providing information that can be used in
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
making marketing decisions |\ |\
Uses of marketing research (3) - CORRECT ANSWERS ✔✔1. Find
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
opportunities/problems, |\
2. generate and refine and choose potential marketing actions,
|\ |\ |\ |\ |\ |\ |\ |\ |\
3. and to monitor marketing performance
|\ |\ |\ |\ |\
How has measuring success changed over the years? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔It shifted from customer satisfaction to trending on
|\ |\ |\ |\ |\ |\ |\ |\ |\
social media |\
What is a scanner database and how are cameras used in
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
research - CORRECT ANSWERS ✔✔It tracks people's purchases
|\ |\ |\ |\ |\ |\ |\ |\
and cameras track store traffic
|\ |\ |\ |\
Potential Marketing actions (5) - CORRECT ANSWERS ✔✔1.
|\ |\ |\ |\ |\ |\ |\ |\
Selecting target markets |\ |\
2. Product research
|\ |\
3. Pricing research
|\ |\
4. Promotion research
|\ |\
5. Distribution research
|\ |\
, Basic Research - CORRECT ANSWERS ✔✔Conducted to expand
|\ |\ |\ |\ |\ |\ |\ |\
knowledge rather to solve a specific problem |\ |\ |\ |\ |\ |\
Applied research - CORRECT ANSWERS ✔✔Conducted to solve a
|\ |\ |\ |\ |\ |\ |\ |\ |\
specific problem |\
Why is marketing research difficult (4) - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔1. Understanding and predicting consumer behavior is hard
|\ |\ |\ |\ |\ |\ |\
2. $ is usually low
|\ |\ |\ |\
3. Time constraints
|\ |\
4. Always a degree of error
|\ |\ |\ |\ |\
The Marketing Information System (MIS) - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔A structure of people, equipment, and procedures to gather,
|\ |\ |\ |\ |\ |\ |\ |\ |\
sort, analyze evaluate and distribute needed, timely and
|\ |\ |\ |\ |\ |\ |\ |\
accurate information to marketing decision makers
|\ |\ |\ |\ |\
Components of MIS (4) - CORRECT ANSWERS ✔✔1. Internal |\ |\ |\ |\ |\ |\ |\ |\ |\
Reports System |\
2. Marketing Intelligence system
|\ |\ |\
3. Marketing Decision Support System (DSS) - uses database and
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
math to make future decisons
|\ |\ |\ |\ |\
4. Marketing Research System
|\ |\ |\
Charles Coolidge Parlin - CORRECT ANSWERS ✔✔Father of
|\ |\ |\ |\ |\ |\ |\ |\
Marketing Research, conducted the first continuous marketing
|\ |\ |\ |\ |\ |\ |\
