18 Questions
What is the primary objective of portfolio analysis in a company?
To evaluate the products and businesses that make up the company
What is the term for company growth by increasing sales of current products to current market segments?
Market penetration
Which of the following is NOT a strategy for company growth?
Value chain analysis
What is the term for the series of internal departments that carry out value-creating activities?
Value chain
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
What is the term for company growth by offering modified or new products to current market segments?
Product development
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
What is the primary source of internal data?
Data sources within the company network
What is the primary goal of competitive marketing intelligence?
To collect and analyze publicly available information about consumers and competitors
What is the primary benefit of internal data?
It provides a competitive advantage
What is the primary role of marketing information in creating customer value and relationships?
To form the basis for creating customer value and relationships
What is the primary goal of customer insights?
To create customer value and relationships
What is the main purpose of the marketing mix?
To produce the response it wants in the target market
What is the primary function of marketing planning?
Choosing the right marketing strategies
What is the difference between operating control and strategic control?
Operating control focuses on performance, while strategic control focuses on opportunities
What is the main purpose of a SWOT analysis?
To evaluate the company's strengths, weaknesses, opportunities, and threats
Which marketing management function involves turning marketing strategies and plans into actions?
Marketing implementation
What is the primary function of marketing control?
To measure and evaluate the results of marketing strategies
Test your knowledge on customer insights and how they relate to our beliefs and values. Learn how companies gain fresh understanding of customers and the marketplace to create customer value and relationships.
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