Understanding Customer Insights and Beliefs
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Questions and Answers

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?

<p>Value chain (C)</p> Signup and view all the answers

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

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

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

<p>Product development (C)</p> Signup and view all the answers

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

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

What is the primary source of internal data?

<p>Data sources within the company network (A)</p> Signup and view all the answers

What is the primary goal of competitive marketing intelligence?

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

What is the primary benefit of internal data?

<p>It provides a competitive advantage (A)</p> Signup and view all the answers

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

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

What is the primary goal of customer insights?

<p>To create customer value and relationships (A)</p> Signup and view all the answers

What is the main purpose of the marketing mix?

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

What is the primary function of marketing planning?

<p>Choosing the right marketing strategies (C)</p> Signup and view all the answers

What is the difference between operating control and strategic control?

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

What is the main purpose of a SWOT analysis?

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

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

<p>Marketing implementation (C)</p> Signup and view all the answers

What is the primary function of marketing control?

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

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