Understanding Customer Insights and Beliefs

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What is the primary objective of portfolio analysis in a company?

To identify new market segments for current products
To develop modified or new products for current market segments
To reduce the business portfolio by eliminating unprofitable products
To evaluate the products and businesses that make up the company (correct)

What is the term for company growth by increasing sales of current products to current market segments?

Market development
Product development
Diversification
Market penetration (correct)

Which of the following is NOT a strategy for company growth?

Diversification
Downsizing
Market penetration
Value chain analysis (correct)

What is the term for the series of internal departments that carry out value-creating activities?

Value chain (C) Signup and view all the answers

What is the purpose of identifying strategic business units (SBU) in a company?

To identify the vital business units that are crucial to the company (D) Signup and view all the answers

What is the term for company growth by offering modified or new products to current market segments?

Product development (C) Signup and view all the answers

What is the primary function of a Marketing Information System (MIS)?

To assess information needs, develop needed information and help decision makers to use the information (C) Signup and view all the answers

What is the primary source of internal data?

Data sources within the company network (A) Signup and view all the answers

What is the primary goal of competitive marketing intelligence?

To collect and analyze publicly available information about consumers and competitors (A) Signup and view all the answers

What is the primary benefit of internal data?

It provides a competitive advantage (A) Signup and view all the answers

What is the primary role of marketing information in creating customer value and relationships?

To form the basis for creating customer value and relationships (B) Signup and view all the answers

What is the primary goal of customer insights?

To create customer value and relationships (A) Signup and view all the answers

What is the main purpose of the marketing mix?

To produce the response it wants in the target market (D) Signup and view all the answers

What is the primary function of marketing planning?

Choosing the right marketing strategies (C) Signup and view all the answers

What is the difference between operating control and strategic control?

Operating control focuses on performance, while strategic control focuses on opportunities (C) Signup and view all the answers

What is the main purpose of a SWOT analysis?

To evaluate the company's strengths, weaknesses, opportunities, and threats (C) Signup and view all the answers

Which marketing management function involves turning marketing strategies and plans into actions?

Marketing implementation (C) Signup and view all the answers

What is the primary function of marketing control?

To measure and evaluate the results of marketing strategies (D) Signup and view all the answers