MKT 3301 Exam Questions set 2, all with 100%
Correct Answers -A+ Assured
Four elements of MIS - ✔✔1) Information Sources
2) Questions and Answers
3) Decision Maker
4) Results
Marketing Dashboard - ✔✔one way to interface with DSS which displays up-to-the
minute marketing data in the easy-to-read format and are often customized to a
manager's area of responsability
Marketing Research - ✔✔a set of procedures to develop and analyze new
information to help marketing manager make decisions;
What is needed to have good MS? - ✔✔Marketing manager and Marketing
Researcher need to have a good working relationship and a good researcher will
understand the marketing problem as well as the technical details
Marketing Model - ✔✔is a statement of relationships among marketing variables; it
enables a manager to look at the sales (and costs) expected with different types of
promotion and select the marketing mix that is best
Marketing Research Process 5 Steps - ✔✔1) Defining the problem
2) Analyzing the situation
3) Getting problem-specific data
4) Interpreting the data
5) Solving the problem
, Step 1: Defining the Problem - ✔✔...
Product Life Cycle and the stages - ✔✔describes the stages a really new product idea
goes through from beginning to end and divided into four major stages:
1) Market Introduction
2) Market Growth
3) Market Maturity
4) Sales Decline
Market Introduction - ✔✔sales are low as the new idea is first introduced and it is
investing in the future
Market Growth - ✔✔industry sales grow fast but industry profits rise and then start
falling
1) Innovation Attracts Competition
2) Profits Peak and Then Decline
Market Maturity - ✔✔industry sales level off, competition gets tougher, profits
continue down, product must have clear competitive advantage as it moves into
maturity
Sales Decline / Phasing Out Dying Produtcts - ✔✔it is determined that the product
will not contribute to the achievement of the organization's objectives in the future and
it's the time of product replacement
Correct Answers -A+ Assured
Four elements of MIS - ✔✔1) Information Sources
2) Questions and Answers
3) Decision Maker
4) Results
Marketing Dashboard - ✔✔one way to interface with DSS which displays up-to-the
minute marketing data in the easy-to-read format and are often customized to a
manager's area of responsability
Marketing Research - ✔✔a set of procedures to develop and analyze new
information to help marketing manager make decisions;
What is needed to have good MS? - ✔✔Marketing manager and Marketing
Researcher need to have a good working relationship and a good researcher will
understand the marketing problem as well as the technical details
Marketing Model - ✔✔is a statement of relationships among marketing variables; it
enables a manager to look at the sales (and costs) expected with different types of
promotion and select the marketing mix that is best
Marketing Research Process 5 Steps - ✔✔1) Defining the problem
2) Analyzing the situation
3) Getting problem-specific data
4) Interpreting the data
5) Solving the problem
, Step 1: Defining the Problem - ✔✔...
Product Life Cycle and the stages - ✔✔describes the stages a really new product idea
goes through from beginning to end and divided into four major stages:
1) Market Introduction
2) Market Growth
3) Market Maturity
4) Sales Decline
Market Introduction - ✔✔sales are low as the new idea is first introduced and it is
investing in the future
Market Growth - ✔✔industry sales grow fast but industry profits rise and then start
falling
1) Innovation Attracts Competition
2) Profits Peak and Then Decline
Market Maturity - ✔✔industry sales level off, competition gets tougher, profits
continue down, product must have clear competitive advantage as it moves into
maturity
Sales Decline / Phasing Out Dying Produtcts - ✔✔it is determined that the product
will not contribute to the achievement of the organization's objectives in the future and
it's the time of product replacement
