MAR4480 EXAM QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS GRADED A++ LATEST UPDATE
definition of utility as it pertains to a product
Utility describes the ability of a product to satisfy a customer's desires
What is used to focus on the internal factors and external factors that give the
firm certain advantages and disadvantages
Situation analysis
The difference in primary and secondary research
Primary involves participation from the researcher when secondary involves analyzing
the data from the primary research/the actions were performed and published by others
What type of firms are those that successfully generate, disseminate, and
respond to market information
Market-oriented firms
What is the problem with internal data
Not being able to provide all the necessary information, takes time, expensive
Know the parts of evaluating the internal environment
Review of current objectives, strategy, and performance.
Availability of resources, capabilities and core competencies
Organizational culture and structure
Know the purposes of a marketing plan
, A marketing plan is a detailed outline of a marketing program that the company will use
to achieve success and win in the marketplace
Defines specific actions/responsibilities, identifies resources needed for implementation,
explains both the present and future, specifies expected outcomes (goals and
objectives), permits monitoring of actions/results so that controls can be implemented.
Understand commoditization
Consequence of mature industries where slowing innovation, extensive product
assortment, excess supply force margins to the floor
What outlines a firm's game plan for success
strategy
Understand the role of a CEO
Final approval comes from president or CEO
Understand lines of communications
Verbal- listen to a person to understand their meaning
Written- read their meaning
Nonverbal- observe and infer their meaning
Understand competitive intelligence
Assessment of competitors capabilities, vulnerabilities, and planning
Know what it takes to have a good marketing plan outline
Must include your long-term and short-term marketing goals, a description of your target
audience, high-level marketing strategics
Know the difference between strategic planning, customer analysis,
environmental planning, and tactical planning
SOLUTIONS GRADED A++ LATEST UPDATE
definition of utility as it pertains to a product
Utility describes the ability of a product to satisfy a customer's desires
What is used to focus on the internal factors and external factors that give the
firm certain advantages and disadvantages
Situation analysis
The difference in primary and secondary research
Primary involves participation from the researcher when secondary involves analyzing
the data from the primary research/the actions were performed and published by others
What type of firms are those that successfully generate, disseminate, and
respond to market information
Market-oriented firms
What is the problem with internal data
Not being able to provide all the necessary information, takes time, expensive
Know the parts of evaluating the internal environment
Review of current objectives, strategy, and performance.
Availability of resources, capabilities and core competencies
Organizational culture and structure
Know the purposes of a marketing plan
, A marketing plan is a detailed outline of a marketing program that the company will use
to achieve success and win in the marketplace
Defines specific actions/responsibilities, identifies resources needed for implementation,
explains both the present and future, specifies expected outcomes (goals and
objectives), permits monitoring of actions/results so that controls can be implemented.
Understand commoditization
Consequence of mature industries where slowing innovation, extensive product
assortment, excess supply force margins to the floor
What outlines a firm's game plan for success
strategy
Understand the role of a CEO
Final approval comes from president or CEO
Understand lines of communications
Verbal- listen to a person to understand their meaning
Written- read their meaning
Nonverbal- observe and infer their meaning
Understand competitive intelligence
Assessment of competitors capabilities, vulnerabilities, and planning
Know what it takes to have a good marketing plan outline
Must include your long-term and short-term marketing goals, a description of your target
audience, high-level marketing strategics
Know the difference between strategic planning, customer analysis,
environmental planning, and tactical planning
