La Tech MKTG 482 Flurry Exam 1 Chp
1-5
What is 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. (Find what the customer wants and deliver it)
What is the Marketing Concept? - answer 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? - answer 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? - answer 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? - answer The size,
location, and/or makeup of the market for a product or service
Marketing research links - answerThe consumer to the marketer by providing
information that can be used in making marketing decisions
Uses of marketing research (3) - answer1. 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? - answerIt shifted from customer
satisfaction to trending on social media
What is a scanner database and how are cameras used in research - answerIt tracks
people's purchases and cameras track store traffic
Potential Marketing actions (5) - answer1. Selecting target markets
2. Product research
3. Pricing research
4. Promotion research
5. Distribution research
, Basic Research - answerConducted to expand knowledge rather to solve a specific
problem
Applied research - answerConducted to solve a specific problem
Why is marketing research difficult (4) - answer1. 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) - answerA 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) - answer1. 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 - answerFather of Marketing Research, conducted the first
continuous marketing research for Curtis Publishing Co. in the 1900s. His goal was to
figure out what readers enjoyed to increase advertising for Saturday Evening Post
Why did the industrial revolution lead to marketing research? (2) - answer1. It led to
manufacturers producing goods for distant markets
2. Manufacturers needed to know about far away customer
AC Neilson and Gallup - answerLead in marketing research
Computers revolutionized the industry in the 1950s by providing (3) - answer1. Data
Analysis
2. Tracking Data
3. Online Services
Client Side Research - answerOrganizations that supply their own marketing research
information
Internal suppliers - answerFormal departments/individuals conduct research internally
DYI research - answerFacilitated by internet, firms have access to secondary data
online survey platforms and better knowledge of data analysis software such as SPSS
Supply Side Research - answerExternal Suppliers hired to fulfill a company's marketing
research needs
1-5
What is 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. (Find what the customer wants and deliver it)
What is the Marketing Concept? - answer 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? - answer 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? - answer 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? - answer The size,
location, and/or makeup of the market for a product or service
Marketing research links - answerThe consumer to the marketer by providing
information that can be used in making marketing decisions
Uses of marketing research (3) - answer1. 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? - answerIt shifted from customer
satisfaction to trending on social media
What is a scanner database and how are cameras used in research - answerIt tracks
people's purchases and cameras track store traffic
Potential Marketing actions (5) - answer1. Selecting target markets
2. Product research
3. Pricing research
4. Promotion research
5. Distribution research
, Basic Research - answerConducted to expand knowledge rather to solve a specific
problem
Applied research - answerConducted to solve a specific problem
Why is marketing research difficult (4) - answer1. 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) - answerA 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) - answer1. 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 - answerFather of Marketing Research, conducted the first
continuous marketing research for Curtis Publishing Co. in the 1900s. His goal was to
figure out what readers enjoyed to increase advertising for Saturday Evening Post
Why did the industrial revolution lead to marketing research? (2) - answer1. It led to
manufacturers producing goods for distant markets
2. Manufacturers needed to know about far away customer
AC Neilson and Gallup - answerLead in marketing research
Computers revolutionized the industry in the 1950s by providing (3) - answer1. Data
Analysis
2. Tracking Data
3. Online Services
Client Side Research - answerOrganizations that supply their own marketing research
information
Internal suppliers - answerFormal departments/individuals conduct research internally
DYI research - answerFacilitated by internet, firms have access to secondary data
online survey platforms and better knowledge of data analysis software such as SPSS
Supply Side Research - answerExternal Suppliers hired to fulfill a company's marketing
research needs
