MGT410 Ch1

Question 1

Which of the following statements best illustrates the service-dominant logic for marketing philosophy?

Answer 1

A) Marketing decision makers should know their firms’ core competencies.

Question 2

10) Based on the AMA’s definition of marketing research, which of the following is NOT one of the uses of marketing research?

Answer 2

B) to solve general, not specific, marketing problems

Question 3

24) ________ satisfies the need for companies to identify and test new products to replace products which are at the end of their product life cycles.

Answer 3

B) Product research

Question 4

33) In order to implement the “right” strategy, managers must make many decisions, and they must have objective, accurate, and timely information in order to make these decisions correctly

Answer 4

TRUE

Question 5

14) Which of the following best illustrates the use of marketing research to monitor marketing performance?

Answer 5

C) tracking variables that monitor how well products are performing in the marketplace

Question 6

21) Which of the following marketing information system components is NOT continuous?

Answer 6

B) marketing research system

Question 7

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

Answer 7

TRUE

Question 8

54) 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.

Answer 8

TRUE

Question 9

4) The marketing concept is an important philosophy for marketing managers because it dictates:

Answer 9

C) day-to-day decisions that managers will make.

Question 10

11) Which of the following refers to applying marketing research to a specific geographical marketing area?

Answer 10

B) market research