Marketing Management Quiz
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Questions and Answers

What does marketing management focus on?

  • Application of marketing orientation, techniques, and methods (correct)
  • Application of production management
  • Application of human resource management
  • Application of accounting principles

    • Which tools does marketing management employ for industry analysis?

  • Porter's five forces, SWOT analysis, value chain analysis (correct)
  • Game theory, sensitivity analysis, ANOVA
  • Pareto analysis, decision tree analysis, scenario planning
  • Regression analysis, factor analysis, cluster analysis

    • What do marketers focus on in competitor analysis?

  • Competitor's cost structure, sources of profits, resources, and competencies (correct)
  • Competitor's employee satisfaction levels
  • Competitor's office locations
  • Competitor's social media presence

    • What does marketing management often imply?

    <p>Market orientation</p> Signup and view all the answers

    What is the focus of marketing managers in competitor analysis?

    <p>Competitor's historical responses to industry developments</p> Signup and view all the answers

    What is the primary purpose of product planning?

    <p>Identifying market requirements and defining a product's feature set</p> Signup and view all the answers

    How can product planning help companies respond to long-term challenges within the business environment?

    <p>By managing the product throughout its life cycle using various marketing strategies</p> Signup and view all the answers

    What is involved in the product concept phase of product planning?

    <p>Generating ideas for new products based on consumer problems or needs</p> Signup and view all the answers

    How does product planning allow a firm to predict how a product will be received within a market upon launch?

    <p>By understanding the needs and wants of core customer groups</p> Signup and view all the answers

    What serves as the basis for decision-making about price, distribution, and promotion in product planning?

    <p>Identifying and articulating market requirements</p> Signup and view all the answers

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