and Answers 100% Pass
explain the nature and scope of the marketing information management
function - ✔✔practice of monitoring market place, analyzing results, and
developing future strategies; marketing information allows businesses to
increase sales and profits. It also helps decide what products to produce,
what price to sell them at and who will buy them
identify information monitored for marketing decision making -
✔✔characteristics and media habits of current clientele and target market
explain the nature of marketing research - ✔✔the designing, analyzing,
gathering, and reporting of info that is used to sell products
describe ethics considerations in channel management - ✔✔how you get
the product to the customer in an ethical manner, abiding by laws,
satisfying customers, etc.
describe then use of technology in the channel management function -
✔✔how technology plays a role in the process of channel distribution
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,describe marketing and its importance to the global economy -
✔✔operating in a global economy allows brands to maximize economies of
scale and portray a consistent brand image across many markets, it also
poses challenges for addressing consumer needs and wants, and reacting
effectively against competition
describe marketing functions and related activities - ✔✔7 Functions of
Marketing:
1)Financing-Budgeting for marketing activities
2)Pricing-Establishing and communicating value of the product to
customers
3)Promotion-Communicating information to customers
4)Product/Service Management-Assisting in the design and development of
products that will meet customer needs/wants
5)Distribution-Best methods for customers to locate, obtain and use
product/services
6)Selling-Direct, personal communications with prospective customers
7)Marketing Information Management-Obtaining, managing, and using
market info
explain customer/client/business buying behavior - ✔✔...
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,discuss actions employees can take to achieve a company's desired
results - ✔✔...
demonstrate connections between company actions and result (ex:
influencing customer buying behavior, gaining market share, etc.) - ✔✔...
explain the nature and scope of channel management - ✔✔...
explain the relationship between customer service and channel
management - ✔✔...
explain the nature of channels of distribution - ✔✔...
explain legal considerations in channel management - ✔✔...
describe ethical considerations in channel management - ✔✔...
coordinate channel management with other marketing activities - ✔✔...
explain the nature of channel-member relationships - ✔✔-Intermediaries
are the business involved in sales transactions that move products from the
manufacturer to the final user
-Channel members can consist of the producer/manufacturer, agents,
wholesalers, retails and consumer
identify company's unique selling proposition - ✔✔the reason that one
product is different better than the competition
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, identify internal and external service standards - ✔✔A service standard is a
public commitment to a measurable level of performance that clients can
expect under normal circumstances. Service standards are integral to good
client service and to effectively manage performance. They help clarify
expectations for clients and employees, drive service improvement, and
contribute to results-based management. Service standards reinforce
government accountability by making performance transparent. Internal
service standards provide staff with performance targets ("Phone must be
answered within three rings"); and external service standards inform clients
what to expect ("Waiting time is less than 10 minutes").
describe the need for marketing information - ✔✔...
Explain the role of ethics in marketing-information management - ✔✔...
Describe the use of technology in the marketing-information management
function - ✔✔...
Describe the regulation of marketing-information management - ✔✔...
Discuss the nature of marketing research problems/issues - ✔✔Some
problems make marketing research costly and produce results of
questionable value for the organization. When there are errors in the
survey design, marketing research problems can surface.
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