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Questions and Answers
What is the key role of the market information system in the marketing process?
What is the key role of the market information system in the marketing process?
- Capturing value from customers
- Creating value for customers
- Assessing information needs, developing the needed information, and helping decision makers to use the information (correct)
- Selling information to competitors
What is the purpose of segmentation in the marketing process?
What is the purpose of segmentation in the marketing process?
- Dividing the market into distinct groups of customers with different needs, characteristics, and behaviors (correct)
- Standardizing the market to reduce competition
- Ignoring customer differences
- Focusing on a single type of customer
What does the tactical stage of the marketing process involve?
What does the tactical stage of the marketing process involve?
- Developing customer-driven marketing strategies
- Auditing the marketplace and customer needs
- Defining the integrated market offer and marketing mix (4Ps) (correct)
- Creating long-term objectives
What is the strategic stage of the marketing process concerned with?
What is the strategic stage of the marketing process concerned with?
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What is the analytical stage of the marketing process primarily focused on?
What is the analytical stage of the marketing process primarily focused on?
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