MKTG 482 Exam 1 questions with answers

MKTG 482 Exam 1 questions with |\ |\ |\ |\ |\ |\




answers


Marketing - CORRECT ANSWERS ✔✔the activity, set of
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institutions, and processes for creating, communicating,
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delivering, and exchanging offerings that have value for
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customers, clients, partners, and society at large.
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marketing concept - CORRECT ANSWERS ✔✔business philosophy
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that holds that the key to achieving organizational goals consists
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of the company's being more effective than competitors in
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creating, delivering, and communicating customer value to its
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chosen target markets.|\ |\




marketing strategy - CORRECT ANSWERS ✔✔consists of selecting
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a segment of the market as the company's target market and
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designing the proper "mix" of the product/service, price,
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promotion, and distribution system to meet the wants and needs
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of the consumers within the target market
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Marketing research - CORRECT ANSWERS ✔✔the process of
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designing, gathering, analyzing, and reporting information that
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may be used to solve a specific marketing problem
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Marketing research (AMA Definition) - CORRECT ANSWERS ✔✔the
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function that links the consumer, customer, and public to the
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marketer through information - information used to identify and
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define marketing opportunities and problems; generate, refine,
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, and evaluate marketing actions; monitor marketing performance;
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and improve the understanding of marketing as a process
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Market research - CORRECT ANSWERS ✔✔a process used to
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define the size, location, and/or makeup of the market for a
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product or service |\ |\




Marketing research links - CORRECT ANSWERS ✔✔the consumer
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to the marketer by providing information that can be used in
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making marketing decisions |\ |\




Uses of Marketing Research - CORRECT ANSWERS ✔✔Identify
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marketing opportunities and problems |\ |\ |\




Generate, refine, and evaluate potential marketing actions
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Monitor marketing performance |\ |\




Basic research - CORRECT ANSWERS ✔✔conducted to expand our
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knowledge rather than to solve a specific problem
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Applied research - CORRECT ANSWERS ✔✔conducted to solve
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specific problems. |\




The Marketing Information System - CORRECT ANSWERS ✔✔a
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structure consisting of people, equipment, and procedures to
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gather, sort, analyze, evaluate, and distribute needed, timely,
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and accurate information to marketing decision makers.
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