Marketing 3413 chapter 1 – Flashcards
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Which of the following is the best definition for marketing?
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Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
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Which of the following is most accurate?
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Marketing is an attempt to create long-term customer relationships which will then likely satisfy the organization's objectives
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According to the AMA definition of marketing, which of the following is true of marketing?
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Marketing is carried out for the benefit of the stakeholders
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What does the phrase "hearing the voice of the consumer" mean?
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Companies have the information they need to effectively satisfy wants and needs in the marketplace.
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The key reason that the marketing concept has been recognized as the "right philosophy" is that it:
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always puts the customer first
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What would a strategy "that allows a firm to truly meet the wants and needs of the consumers within the market segment that is chosen" be called?
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the "right" strategy
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In order to develop the "right strategy" to succeed in business, managers must make the right decisions; and in order to make the right decisions, they must have objective, accurate, and timely:
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information about market trends and changes
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Which of the following is the best definition of marketing research? Marketing research is:
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the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem
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Which of the following products was actually a failure after marketing research predicted it would be successful?
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A) Ice Breakers Pacs B) Coca-Cola C2 C) Wolfgang Puck's Self-Heating Latte D) Coca-Cola Blak ***all of the above***
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Market research refers to________.
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applying marketing research to a specific geographical marketing area
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Which of the following is the best statement reflecting the purpose of marketing research?
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to link the consumer to the marketer by providing information that can be used in making marketing decisions
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When everyone saw the music industry facing a terrible decline due to pirating of songs on the Internet, Apple saw an opportunity for iTunes. This example illustrates which use of marketing research?
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identify market opportunities and problems
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Which of the following is an example of a study whose goal is to find opportunities or to identify problems with an existing strategy?
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environmental analysis studies
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Which of the following best illustrates one of the uses of marketing research, monitoring marketing performance?
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tracking research that monitors how well products are performing in the marketplace
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The difference between basic research and applied research is that basic research is conducted to:
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expand our knowledge rather than solve a specific problem
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Which of the following deals with the role of MIS?
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A) determine decision makers' information needs B) acquire the needed information C) distribute information to the decision makers in a form in which they can use it for decision making D) distribute information to the decision makers at a time when they can use it for decision making *** all of the above***
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Which of the following is NOT one of the subsystems of the marketing information system?
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consumer information support system
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What is the purpose of the "internal reports system" subsystem of the marketing information system?
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to gather information generated by internal reports, which includes orders, billing, receivables, inventory levels, stock-outs, among others
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Which of the following marketing information subsystems gathers information about events and happenings "outside" the firm?
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marketing intelligence
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What is the purpose of the "marketing intelligence system" subsystem of the marketing information system?
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to obtain everyday information about pertinent developments in the environment
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Which of the following marketing information subsystems is NOT continuous?
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marketing research system
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Ad hoc is a Latin word, meaning ________.
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with respect to a specific purpose
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Which MIS subsystem is also called a DSS?
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a marketing decision support system
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Marketing research conducted on the popular TV program Seinfeld, starring Jerry Seinfeld, was used to illustrate:
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when marketing research predicts a failure yet there is success
