Question 1

Which of the following is the best definition for \"marketing\"?

Accepted Answer

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

Question 2

Which of the following is most accurate?

Accepted Answer

Marketing an attempt to create long-term customer relationships which will then likely satisfy the organization\'s objectives

Question 3

According to the AMA definition of marketing, which of the following is true of marketing?

Accepted Answer

Marketing is carried out for the benefit of the stakeholders.

Question 4

What does the phrase \"hearing the voice of the consumer\" mean?

Accepted Answer

Companies have the information they need to effectively satisfy wants and needs in the marketplace

Question 5

The key reason that the marketing concept has been highly recognized as the \"right philosophy\" is that it:

Accepted Answer

always puts the customer first

Question 6

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?

Accepted Answer

the \"right\" strategy

Question 7

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:

Accepted Answer

information about market trends and changes

Question 8

Which of the following is the best definition of marketing research? Marketing research is:

Accepted Answer

the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem

Question 9

Which of the follwing products was actually a failure after marketing research predicted it would be successful?

Accepted Answer

ALL OF THE ABOVE (Ice breakers pacs, coca-cola C2, Wolfgang Puck\'s Self-heating Latte, Coca-cola Blak)

Question 10

Market research refers to

Accepted Answer

applying marketing research to a specific geographical marketing area

Question 11

Which of the following is the best statement reflecting the purpose of marketing research?

Accepted Answer

to provide information that improve profitability

Question 12

When everyone saw the music industry facing a terrible decline due to pirating of songs on the Internet, Apple saw as an opportunity for iTunes. This example illustrates which use of marketing research?

Accepted Answer

identify market opportunities and problems

Question 13

Which of the following is an example of a study whose goal is to find opportunities or to identify problems with an existing strategy?

Accepted Answer

Environmental analysis studies

Question 14

Which of the following best illustrates one of the uses of marketing research, monitoring marketing performance?

Accepted Answer

providing closed circuit TV to monitor the actions of marketing researchers practicing in the field

Question 15

The difference between basic research and applied research is that basic research is conducted to:

Accepted Answer

expand our knowledge rather than solve a specific problem

Question 16

Which of the following deals with the role of MIS?

Accepted Answer

ALL OF THE ABOVE (determine decision makers\' information needs, acquire the needed information, AND distribute information to the decision makers in a form in which they can use it for decision making)

Question 17

Which of the following is NOT one of the subsystems of the marketing information system?

Accepted Answer

consumer information support system

Question 18

What is the purpose of the \"internal reports system\" subsystem of the marketing information system?

Accepted Answer

to gather information generated by internal reports, which includes orders, billing, receivables, inventory levels, stock-outs, among others

Question 19

Which of the following marketing information subsystems gathers informatino about events and happenings \"outside\" the firm?

Accepted Answer

marketing intelligence

Question 20

What is the purpose of the \"marketing intelligence system\" subsystem of the marketing information system?

Accepted Answer

to obtain everyday information about pertinent developments in the environment

Question 21

Which of the following marketing information subsystems is not continuous?

Accepted Answer

marketing research system

Question 22

Ad Hoc is a Latin word, meaning

Accepted Answer

with respect to a specific purpose

Question 23

Which MIS subsystem is also called a DSS?

Accepted Answer

a marketing decision support system

Question 24

Marketing research conducted on the popular TV program \"Seinfield\" starring Jerry Seinfield, was used to illustrate:

Accepted Answer

when marketing research predicts a failure yet there is success

Question 25

According to the AMA definition of marketing research, solving general, not specific, marketing problems is one of the uses of marketing research.

Accepted Answer

FALSE

Question 26

When a product fails, you can tell marketing research was not conducted.

Accepted Answer

FALSE

Question 27

Marketing research is a part of marketing.

Accepted Answer

TRUE

Question 28

\"Making the sale\" is not the end of marketing is marketers want repeat buying and positive word-of-mouth promotion of their products and services.

Accepted Answer

TRUE

Question 29

Managers use philosophies that guide them in their decision making.

Accepted Answer

TRUE

Question 30

The AMA\'s definition of marketing research is longer than your author\'s because it elaborates on the function as well as the uses of marketing research.

Accepted Answer

TRUE

Question 31

Marketing research is the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.

Accepted Answer

TRUE

Question 32

The American Marketing Association\'s definition of marketing stresses the function of marketing should be to create a sale that generates high profits for the firm.

Accepted Answer

FALSE

Question 33

The purpose of marketing research is to link the consumer to the marketer by providing information that can be used in making marketing decisions.

Accepted Answer

TRUE

Question 34

Marketing research is synonymous with market research.

Accepted Answer

FALSE

Question 35

Sometimes marketing research studies lead to wrong decisions.

Accepted Answer

TRUE

Question 36

Marketing research provides information collected only on consumers. Information collected on other entitites such as EEs, members of distribution channels, or competitors would not be considered marketing research.

Accepted Answer

FALSE

Question 37

One of the uses of marketing research is to identify market opportunities; however, the identification of problems is not a use of marketing research, but rather a use of the firm\'s internal auditing system.

Accepted Answer

FALSE

Question 38

\"Consumer packaged goods\" firms, like Wal-mart, want to monitor the sales of their brands and are not concerned about the sales of their competitor\'s brands.

Accepted Answer

FALSE

Question 39

Another use of marketin research is to monitor marketing performance, which takes place prior to implementing marketing strategies.

Accepted Answer

FALSE

Question 40

The goal of environmental analysis studies is to find opportunities or to identify problems with an existing strategy.

Accepted Answer

TRUE

Question 41

One use of marketing research is to improve marketing as a process; such research information is often published in journals such as \"The Journal of Marketing Research\" and \"Marketing Research\".

Accepted Answer

TRUE

Question 42

Applied research addresses specific problems, and this type of research represents the vast majority of marketing research studies.

Accepted Answer

TRUE

Question 43

Applied research is conducted to expand our knowledge rather than to solve a specific problem.

Accepted Answer

FALSE

Question 44

Studies that deal with monitoring marketing performance are control studies.

Accepted Answer

TRUE

Question 45

A marketing information system is a structure consisting of people, equipment, and procedure to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

Accepted Answer

TRUE

Question 46

Everyday information about pertinent developments in the environment to an organization is gathered through the internal report system.

Accepted Answer

FALSE

Question 47

A \"marketing decision support system\" is defined as collected data that may be accessed and analyzed using tools and techniques that assist managers in decision making.

Accepted Answer

FALSE

Question 48

The marketing research system gathers information for a specific situation facing the company, and it is unlikely that the other components of an MIS have the information needed for the specific situation.

Accepted Answer

FALSE

Question 49

Marketing research projects, like the other MIS components, are continuous, running 24/7.

Accepted Answer

FALSE

Question 50

By providing information for a specific problem at hand, marketing research provides information not provided by other components of the MIS.

Accepted Answer

TRUE

Question 51

Because marketing research studies are continous, they cannot be referred to as \"projects\"

Accepted Answer

FALSE

Question 52

A DSS is defined as a set of procedures and sources used by managers to obtain everyday information about pertinent developments in the environment.

Accepted Answer

FALSE

Question 53

The internal reports system gathers information generated by internal reports, which includes orders, billing, receivables, inventory levels, stock-outs, among others.

Accepted Answer

TRUE

MKT 3413 – Flashcard

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