Marketing 3413 chapter 1

Which of the following is the best definition for marketing?
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.
Which of the following is most accurate?
Marketing is an attempt to create long-term customer relationships which will then likely satisfy the organization’s objectives
According to the AMA definition of marketing, which of the following is true of marketing?
Marketing is carried out for the benefit of the stakeholders
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.
The key reason that the marketing concept has been recognized as the “right philosophy” is that it:
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 “right” 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:
information about market trends and changes
Which of the following is the best definition 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
Which of the following products was actually a failure after marketing research predicted it would be successful?
A) Ice Breakers Pacs
B) Coca-Cola C2
C) Wolfgang Puck’s Self-Heating Latte
D) Coca-Cola Blak

***all of the above***

Market research refers to________.
applying marketing research to a specific geographical marketing area
Which of the following is the best statement reflecting the purpose of marketing research?
to link the consumer to the marketer by providing information that can be used in making marketing decisions
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
Which of the following is an example of a study whose goal is to find opportunities or to identify problems with an existing strategy?
environmental analysis studies
Which of the following best illustrates one of the uses of marketing research, monitoring marketing performance?
tracking research that monitors how well products are performing in the marketplace
The difference between basic research and applied research is that basic research is conducted to:
expand our knowledge rather than solve a specific problem
Which of the following deals with the role of MIS?
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***

Which of the following is NOT one of the subsystems of the marketing information system?
consumer information support system
What is the purpose of the “internal reports system” subsystem of the marketing information system?
to gather information generated by internal reports, which includes orders, billing, receivables, inventory levels, stock-outs, among others
Which of the following marketing information subsystems gathers information about events and happenings “outside” the firm?
marketing intelligence
What is the purpose of the “marketing intelligence system” subsystem of the marketing information system?
to obtain everyday information about pertinent developments in the environment
Which of the following marketing information subsystems is NOT continuous?
marketing research system
Ad hoc is a Latin word, meaning ________.
with respect to a specific purpose
Which MIS subsystem is also called a DSS?
a marketing decision support system
Marketing research conducted on the popular TV program Seinfeld, starring Jerry Seinfeld, was used to illustrate:
when marketing research predicts a failure yet there is success