Which of the following is the best definition for marketing?
Marketing is an organizational function and a set of business activities designed to make profits.
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.
Marketing is a business function and a process for determining the value customers desire in order to gain profit for business organizations and to seek societal benefits through nonprofit marketing.
Marketing is finding a hole and filling it while earning profitable dollars.
Marketing is the result of the equilibrium of supply, demand, marginal cost, and marginal revenue.
Which of the following is most accurate?
Marketing is an attempt to create an exchange.
Marketing is an attempt to create long-term customer relationships
Marketing is an attempt to create long-term customer relationships which will then likely satisfy the organization's objectives.
Marketing is an attempt to earn profitable dollars.
Marketing is an attempt to gain customers from competitors while at least breaking even profitwise.
According to the AMA definition of marketing, which of the following is true of marketing?
"Making the sale" should be considered the end of marketing.
Marketing is carried out for the benefit of the customer.
Marketing is carried out for the benefit of the stakeholders.
Marketing should not be considered an organizational function.
all of the above
What does the phrase "hearing the voice of the consumer" mean?
Companies have the information they need to effectively satisfy wants and needs in the marketplace.
Companies specifically use telemarketing to hear their customers' opinions.
Marketing is carried out for the benefit of the customers.
Market trials are necessary for certain products.
The key reason that the marketing concept has been recognized as the "right philosophy" is that it:
is well established in the marketing literature
has been recommended by successful marketing executives
does not rely on high-pressure selling
stresses understanding the competition
always puts the customer first
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?
the "niche" strategy
the "incentivized" strategy
the information strategy
the "right" strategy
the recommended strategy
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:
reports about the competition
reports about customers wants and needs
information about market trends and changes
the number and sizes of market segments
information
Which of the following is the best definition of marketing research? Marketing research is:
the activity of analyzing secondary information and providing executives with timely reports
the process of designing experiments that provide decision makers with causal information
the linking of consumers with information managers
the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem
the process of designing, gathering, analyzing, and reporting information that may be used to solve general marketing problems
Which of the following products was actually a failure after marketing research predicted it would be successful?
Ice Breakers Pacs
Coca-Cola C2
Wolfgang Puck's Self-Heating Latte
Coca-Cola Blak
Market research refers to________.
applying marketing research to a specific geographical marketing area
a process used by businesses to collect information used to make sound business decisions and successfully manage the business
a process used by businesses to analyze and interpret information used to make sound business decisions and successfully manage the business
the function that links the consumer, customer, and public to the marketer through information
information used to identify and define marketing opportunities and problems
Which of the following is the best statement reflecting the purpose of marketing research?
to provide information that improves profitability
to link the environments to the firm
to link the consumer to the marketer by providing information that can be used in making marketing decisions
to link target markets to specific decision makers at all levels within firms
to be perceived as providing value to higher level executives within the firm
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?
identify market opportunities and problems
generate, refine, and evaluate potential marketing actions
monitor marketing performance
improve marketing as a process
improve marketing research as a process
Which of the following is an example of a study whose goal is to find opportunities or to identify problems with an existing strategy?
pricing test
image analysis
web site evaluation
environmental analysis studies
tracking studies
Which of the following best illustrates one of the uses of marketing research, monitoring marketing performance?
marketing research managers closely overseeing the work of subordinates in the marketing research industry
tracking research that monitors how well products are performing in the marketplace
describing the return on investment of firms using/not using marketing research
providing closed circuit TV to monitor the actions of marketing researchers practicing in the field
identifying opportunities and problems in the marketplace
The difference between basic research and applied research is that basic research is conducted to:
determine the most effective advertising copy
determine the most appropriate price for new products
determine the most efficient distribution channels for products
expand our knowledge rather than solve a specific problem
determine the most desired features in new products
Which of the following deals with the role of MIS?
determine decision makers' information needs
acquire the needed information
distribute information to the decision makers in a form in which they can use it for decision making
distribute information to the decision makers at a time when they can use it for decision making
Which of the following is NOT one of the subsystems of the marketing information system?
internal reports
marketing intelligence
marketing decision support
marketing research
consumer information support system
What is the purpose of the "internal reports system" subsystem of the marketing information system?
to obtain everyday information about pertinent developments in the environment
to supply collected data that may be accessed and analyzed using tools and techniques that assist managers in decision making
to gather information generated by internal reports, which includes orders, billing, receivables, inventory levels, stock-outs, among others
to generate the particular information needed for the specific situation
to gather information not gathered by the other MIS component subsystems
Which of the following marketing information subsystems gathers information about events and happenings "outside" the firm?
internal reports system
external environment reporting system
What is the purpose of the "marketing intelligence system" subsystem of the marketing information system?
Which of the following marketing information subsystems is NOT continuous?
marketing research system
internal report system
decision support system
marketing intelligence system
Ad hoc is a Latin word, meaning ________.
out of chaos
from one, many
by that very act
with respect to a specific purpose
and the rest
Which MIS subsystem is also called a DSS?
a marketing decision support system
a delivery system for standardized data
a data support system
detailed systems for standardization
a distant system for data
Marketing research conducted on the popular TV program Seinfeld, starring Jerry Seinfeld, was used to illustrate:
how marketing research always correctly identifies a product or service that will be popular in the marketplace
when marketing research should not be used
when marketing research predicts a failure yet there is success
when marketing research predicts a failure and there is a failure
why marketing research may not be applied to all fields, such as entertainment
According to the AMA definition of marketing research, solving general, not specific, marketing problems is one of the uses of marketing research.
When a product fails, you can tell marketing research was not conducted.
Marketing research is a part of marketing.
"Making the sale" is not the end of marketing if marketers want repeat buying and positive word-of-mouth promotion of their products and services.
Managers use philosophies that guide them in their decision making.
The AMA's definition of marketing research is longer than your authors' because it elaborates on the function as well as the uses of marketing research.
Marketing research is the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.
The American Marketing Association's definition of marketing stresses that the function of marketing should be to create a sale that generates high profits for the firm.
The purpose of marketing research is to link the consumer to the marketer by providing information that can be used in making marketing decisions.
Marketing research is synonymous with market research.
Sometimes marketing research studies lead to the wrong decisions.
Marketing research provides information collected only on consumers. Information collected on other entities such as employees, members of distribution channels, or competitors would not be considered marketing research.
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.
"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.
Another use of marketing research is to monitor marketing performance, which takes place prior to implementing marketing strategies.
The goal of environmental analysis studies is to find opportunities or to identify problems with an existing strategy.
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.
Applied research addresses specific problems, and this type of research represents the vast majority of marketing research studies.
Applied research is conducted to expand our knowledge rather than to solve a specific problem.
Studies that deal with monitoring marketing performance are control studies.
A marketing information system is a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
The marketing intelligence system gathers information generated by internal reports, which includes order billing, receivables, inventory levels, stockouts, and so on.
Everyday information about pertinent developments in the environment to an organization is gathered through the internal report system.
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.
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.
Marketing research projects, like the other MIS components, are continuous, running 24/7.
By providing information for a specific problem at hand, marketing research provides information not provided by other components of the MIS.
Because marketing research studies are continuous they cannot be referred to as "projects."
A DSS is defined as a set of procedures and sources used by managers to obtain everyday information about pertinent developments in the environment.
e internal reports system gathers information generated by internal reports, which includes orders, billing, receivables, inventory levels, stock-outs, among others.
