MKTG 3100 Ch 7, 8 and 9 Study Guide

MKTG 3100 Ch 7 8 - Chapter 7 8 and 9 Study Guide TRUE/FALSE 1 AkPharm Inc has developed Cat-Sip lactose-free milk designed to be digestible by cats

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Chapter 7, 8 and 9 Study Guide TRUE/FALSE 1. AkPharm, Inc. has developed Cat-Sip, lactose-free milk designed to be digestible by cats. The market for this product is cats. FALSE (A Market is: people or organizations with needs or wants , and with the ability and the willingness to buy. A group of people that lacks any one of these characteristics is not a market.) 2. Geography, psychographics, and benefits sought are examples of possible segmentation variables used by marketers. TRUE (Geography, psychographics, benefits sought, demographics (most important one) and Usage Rate are Bases for Segmentation) 3. Use of the Internet can cut marketing research costs by 25 to 40 percent and provide results in half the time it takes to do traditional telephone surveys. TRUE (Reduce costs, Build channel partnerships and trust, Customer-focused, technology and systems, Brand building and development, Integrate online and traditional media) 4.. Competitive intelligence allows managers to predict changes in business relationships, identify marketplace opportunities, and discover new or potential competitors. TRUE (An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors.) MULTIPLE CHOICE 5 . A true marketing decision support systems (DSS) should be: a. flexible b. discovery-oriented c. interactive d. accessibility e. a DSS should be all of these An interactive, flexible (Discovery-oriented and Accessible) computerized information system that enables managers to obtain and manipulate information as they are making decisions. 6. Marketing managers would typically use marketing research to: a. eliminate any guesswork in decision making b. implement a sales promotion c. handle an individual customer’s complaint d. determine why a new product failed e. do all of these Marketing research is the process of planning, collecting, and analyzing data relevant to a marketing decision. Functional Roles of Marketing Research: Descriptive (Gathering and presenting factual statements), Diagnostic (Explaining data Explain why a product failed ), and Predictive (Attempting to estimate the results of a planned marketing decision, “WHAT IF?”) 7 . The first step in the marketing research process is to:
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This document was uploaded on 10/26/2011 for the course GEOG 1101 at Kennesaw.

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MKTG 3100 Ch 7 8 - Chapter 7 8 and 9 Study Guide TRUE/FALSE 1 AkPharm Inc has developed Cat-Sip lactose-free milk designed to be digestible by cats

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