Podcast
Questions and Answers
What is the marketing concept?
What is the marketing concept?
A company should analyse its customers' needs and take appropriate measures to satisfy those needs in order to make a profit. It should also deliver the satisfaction desired by customers more effectively and efficiently than its competitors.
What is the most important business function of a company?
What is the most important business function of a company?
- Finance
- Production
- Human Resources
- Marketing (correct)
Which of these is NOT a step in the marketing process?
Which of these is NOT a step in the marketing process?
- Controlling
- Negotiating (correct)
- Planning
- Organising
What are two ways for the bakery to collect primary data to better understand its customers' tastes?
What are two ways for the bakery to collect primary data to better understand its customers' tastes?
What is a sampling frame in marketing research?
What is a sampling frame in marketing research?
Explain one type of insurance that Sara company should take out to deal with the risks mentioned by the chief executive officer.
Explain one type of insurance that Sara company should take out to deal with the risks mentioned by the chief executive officer.
Which of these is NOT a psychological factor that may affect consumer decisions?
Which of these is NOT a psychological factor that may affect consumer decisions?
Match the following types of business markets with their descriptions.
Match the following types of business markets with their descriptions.
Which of these is NOT an advantage of using e-marketing strategies?
Which of these is NOT an advantage of using e-marketing strategies?
Which of these is NOT a common promotion mix tool?
Which of these is NOT a common promotion mix tool?
What is the characteristic of services that is relevant to the customer complaints mentioned in the case? Explain how the measure suggested by Charles can help Checkmate deal with this characteristic?
What is the characteristic of services that is relevant to the customer complaints mentioned in the case? Explain how the measure suggested by Charles can help Checkmate deal with this characteristic?
What is a partner relationship management?
What is a partner relationship management?
Which of these is NOT an objective of customer relationship management?
Which of these is NOT an objective of customer relationship management?
When deciding whether to open a new outlet or expand the sale channels, what should be considered before a company decides to apply for a long-term bank loan?
When deciding whether to open a new outlet or expand the sale channels, what should be considered before a company decides to apply for a long-term bank loan?
Suggest two ways for the beauty salon to improve its customer relationship management and boost staff morale.
Suggest two ways for the beauty salon to improve its customer relationship management and boost staff morale.
Which of these options is NOT included in the scope of the promotion mix?
Which of these options is NOT included in the scope of the promotion mix?
Which of these is NOT an external factor that influences pricing decisions by a company?
Which of these is NOT an external factor that influences pricing decisions by a company?
Flashcards
What is the marketing concept?
What is the marketing concept?
A company should understand and meet customer needs to make a profit while outperforming competitors.
What is a target market?
What is a target market?
A group of customers with similar needs that a company targets.
What is the marketing process?
What is the marketing process?
The process of planning, organizing, implementing, and controlling marketing activities.
What is a SWOT analysis?
What is a SWOT analysis?
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Who is the market leader?
Who is the market leader?
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Who is the market challenger?
Who is the market challenger?
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Who is the market follower?
Who is the market follower?
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Who is the market nicher?
Who is the market nicher?
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What is planning marketing activities?
What is planning marketing activities?
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What is a marketing plan?
What is a marketing plan?
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What are the steps to formulate a marketing plan?
What are the steps to formulate a marketing plan?
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What are the marketing strategies of market leaders?
What are the marketing strategies of market leaders?
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What are the marketing strategies of market challengers?
What are the marketing strategies of market challengers?
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What are the marketing strategies of market followers?
What are the marketing strategies of market followers?
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What are the marketing strategies of market nichers?
What are the marketing strategies of market nichers?
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What is a functional organization?
What is a functional organization?
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What is a product organization?
What is a product organization?
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What is a geographical organization?
What is a geographical organization?
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What is a customer management organization?
What is a customer management organization?
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What is implementing marketing activities?
What is implementing marketing activities?
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What is controlling marketing activities?
What is controlling marketing activities?
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What is the first step in controlling marketing activities?
What is the first step in controlling marketing activities?
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What is the second step in controlling marketing activities?
What is the second step in controlling marketing activities?
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What is the third step in controlling marketing activities?
What is the third step in controlling marketing activities?
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What is the fourth step in controlling marketing activities?
What is the fourth step in controlling marketing activities?
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What is a hybrid organizational structure?
What is a hybrid organizational structure?
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What is the core principle of the marketing concept?
What is the core principle of the marketing concept?
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Why is marketing important to businesses?
Why is marketing important to businesses?
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Study Notes
Learning Objectives
- Explain the importance and major objectives of marketing research
- Apply basic principles for designing marketing research
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