MKTG 482 Exam 1
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 - answera process used to define 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 - answerIdentify marketing opportunities and problems
Generate, refine, and evaluate potential marketing actions
Monitor marketing performance
Basic research - answerconducted to expand our knowledge rather than to solve a
specific problem
Applied research - answerconducted to solve specific problems.
The Marketing Information System - answera 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 - answerInternal Reports System
Marketing Intelligence System
Marketing Decision Support System (DSS)
Marketing Research System
Client-side research - answerorganizations that supply their own marketing research
information
Internal suppliers - answerFormal departments or 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.
Supplier or agency - answerfirm specializing in marketing research that offers its
services to buyers needing information to make more informed decisions.
Full-service supplier firms - answerhave the capability to conduct the entire marketing
research project for buyer firms.
Limited-service supplier firms - answerspecialize in one or, at most, a few marketing
research activities.
Problem - answerany situation in which a manager must make a choice among decision
alternatives
Failures - answerinability to meet specified objectives
Opportunities - answerpotential areas of profitability
Research objectives - answerspecific and tell the researcher exactly what information
must be collected, including:
From whom information is to be gathered
What information is needed
The unit of measurement to be used to gather information
action standard - answera predesignation of some quantity of a measured attribute or
characteristic that must be achieved for a research objective for a predetermined action
to take place.
marketing research proposal - answerserves as the basis of a contract as it documents
what the marketing researcher proposes to deliver to the client for some consideration,
typically a fee.
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 - answera process used to define 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 - answerIdentify marketing opportunities and problems
Generate, refine, and evaluate potential marketing actions
Monitor marketing performance
Basic research - answerconducted to expand our knowledge rather than to solve a
specific problem
Applied research - answerconducted to solve specific problems.
The Marketing Information System - answera 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 - answerInternal Reports System
Marketing Intelligence System
Marketing Decision Support System (DSS)
Marketing Research System
Client-side research - answerorganizations that supply their own marketing research
information
Internal suppliers - answerFormal departments or 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.
Supplier or agency - answerfirm specializing in marketing research that offers its
services to buyers needing information to make more informed decisions.
Full-service supplier firms - answerhave the capability to conduct the entire marketing
research project for buyer firms.
Limited-service supplier firms - answerspecialize in one or, at most, a few marketing
research activities.
Problem - answerany situation in which a manager must make a choice among decision
alternatives
Failures - answerinability to meet specified objectives
Opportunities - answerpotential areas of profitability
Research objectives - answerspecific and tell the researcher exactly what information
must be collected, including:
From whom information is to be gathered
What information is needed
The unit of measurement to be used to gather information
action standard - answera predesignation of some quantity of a measured attribute or
characteristic that must be achieved for a research objective for a predetermined action
to take place.
marketing research proposal - answerserves as the basis of a contract as it documents
what the marketing researcher proposes to deliver to the client for some consideration,
typically a fee.
