MARKETING RESEARCH AND INFORMATION SYSTEMS

Question 1

• an interacting structure of people, equipment, methods, and controls which is designed to create an information flow that is capable of providing an acceptable base for management decisions in marketing.

Answer 1

MARKETING INFORMATION SYSTEM

Question 2

The function of the MIS is to ________ and make them available for use in marketing decisions.

Answer 2

separate information
from data

Question 3

GENERAL ACTIVITIES OF MIS

Answer 3

assessment of information needs

development of information

distribution of information

Question 4

INTERNAL RECORDS
- financial statements, sales
and orders, costs, accounts
receivables, and cash flows

Answer 4

ACCOUNTING RECORDS

Question 5

INTERNAL RECORDS
- production schedules,
shipments, and inventions

Answer 5

MANUFACTURING RECORDS

Question 6

INTERNAL RECORDS
- salesforce call reports

Answer 6

SALES DEPARTMENT RECORDS

Question 7

INTERNAL RECORDS
- reports on customer
satisfaction and warranty problems

Answer 7

CUSTOMER SERVICE DEPARTMENT RECORDS

Question 8

INFORMATION GATHERED BY OTHER DEPARTMENTS

Answer 8

INTERNAL RECORDS

Question 9

EXTERNAL RECORDS
- the gathering of everyday information about developments in the marketing environment

Answer 9

MARKETING INTELLIGENCE

Question 10

EXTERNAL RECORDS
- compliments marketing intelligence in providing useful information to the marketing department.
- the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services

Answer 10

MARKETING RESEARCH

Question 11

______ is undertaken by using the scientific method which is
“a decision-making approach that focuses on being objective and orderly in testing ideas before accepting them”.

Answer 11

MARKETING RESEARCH

Question 12

Five steps of Marketing Research:

Answer 12

1. definition of the problem
2. situation analysis
3. obtaining problem specific data
4. interpretation of data and
5. problem solution

Question 13

The last activity required of a MIS is the actual distribution of
information to managers. This is designed to provide them with a
better view in making marketing decisions.

Answer 13

DISTRIBUTING INFORMATION

Question 14

Classification of Products (2)

Answer 14

Consumer goods

Industrial goods

Question 15

goods intended for final consumption by consumers

Answer 15

Consumer goods

Question 16

These are the products which are purchased with a minimum of effort.

Examples
Readily available in many retail outlets like soap, bread, soft drinks, milk, etc.

Answer 16

Convenience Goods

Question 17

These are bought only after an effort to compare with other
good has been made.

Examples
Radio sets, ready-to-wear suits, shoes etc.

Answer 17

Shopping Goods

Question 18

• goods the consumers are not willing or are not able to
  accept substitutes.

Examples
Special medicines, jewelry, and exotic foods like turtle eggs.

Answer 18

Specialty Goods

Question 19

• those goods that are not yet wanted by or are still
  unknown to the consumer. Because of the said reasons,
  consumers use no effort to seek them.

-new unsought goods
-regular unsought goods

Answer 19

Unsought Goods

Question 20

goods used in the production of other goods

Answer 20

Industrial goods

Question 21

This term refers industrial products with long-life, are generally expensive, and they form part of the major capital
equipment of an industrial firm.

Examples
Buildings, generators, computers, elevators and others.

Answer 21

INSTALLATIONS

Question 22

These are industrial goods that are used as aids in the production process. They have a shorter usable life that installation.

Examples
Hand tools and lift trucks in factories, and typewriters and desks in offices.

Answer 22

ACCESSORY EQUIPMENT

Question 23

These are unprocessed industrial goods that will become part another product.

Answer 23

RAW MATERIALS

Question 24

2 Types of RAW MATERIALS

Answer 24

farm products

natural products

Question 25

These are processed industrial goods that will still be used and become an actual part of the finished products.

Answer 25

COMPONENT PARTS AND MATERIALS

Question 26

These are items that are used as
aids in the operating process but
do not become part of the finished product.

Example : Pencils, ink, paper clips, fasteners,
and others.

Answer 26

SUPPLIES

Question 27

There are expense items that
assist in the operations.

Examples:
housekeeping, security services, and consultancy services

Answer 27

SERVICES

Question 28

_________refers to the “familiar method of making products recognizable as unique and different, and which make it easy for buyers to identify items they purchase routinely”.

Answer 28

Branding

Question 29

A _______ is a name, term, sign,
symbol, or design, or a combination of these elements,
that is intended to identify the
goods or services of one seller
or a group of seller.

Answer 29

brand

Question 30

_______refers to all the activities involved in designing and producing the container or wrapper for a product. The container and wrapper is the package.

Answer 30

Packaging

Question 31

a product sales growth from the beginning to its peak, followed
by a decline and its eventual withdrawal from the market.
It is the period between the birth and death of a product.

Answer 31

PRODUCT LIFE CYCLE