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Questions and Answers

Which of the following best describes the Marketing Information System?

A system that interprets and stores market information

A system that collects and analyzes market information (correct)

A system that stores and disseminates market information

A system that collects and interprets market information

What are the components of the Marketing Information System?

Internal Records and Marketing Intelligence System (correct)

Internal Records and Sales Data

Sales Data and Financial Data

Marketing Intelligence System and Financial Data

What type of information does the marketing intelligence system provide?

Customer database

Competitor's pricing strategy (correct)

Internal market trends

Product database

What is an example of information that can be collected through internal records?

Sales data Signup and view all the answers

Why is the continuous collection of market information important for marketers?

To identify changing market trends Signup and view all the answers

Which of the following best describes marketing research?

The systematic collection, organization, analysis, and interpretation of data related to marketing conditions Signup and view all the answers

What is the purpose of a Marketing Decision Support System?

To analyze data and make better marketing decisions Signup and view all the answers

What is the definition of marketing research?

The systematic collection, analysis, and interpretation of data pertaining to marketing conditions Signup and view all the answers

What is the purpose of a Marketing Information System?

To collect, analyze, and interpret data related to marketing conditions Signup and view all the answers

What is the role of computers in marketing research?

To save and analyze large amounts of data Signup and view all the answers