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Marketing 524 Module 1 notes questions and answers
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Marketing 524 Module 1 notes questions and answers
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Marketing 524 Module 1 notes5C's - correct answer-The ____ force a marketing manager to systematically frame the
general analysis of the entire marketing process.
Analysis and evaluation - correct answer-The marketing management involves the ____ and
____ of the marketing functional areas to include individual employees.
Business - correct answer-Sell ____ goods and services often face well-informed
professional buyers skilled at evaluating competitive offerings. Advertising and Web sites
can play a role, but the sales force, the price, and the seller's reputation may play a greater
one.
Collaborators - correct answer-Business partners we work with versus the competitors are
the firms we compete against. Can we address our customers' needs while strengthening
our business-tobusiness (B2B) partnerships?
Company - correct answer-What are our strengths and weaknesses? What customer
benefits can we provide?
Competitors - correct answer-Who are the competitors we must consider? What are their
likely actions and reactions?
Consumer - correct answer-____ markets sell mass goods and services such as drinks,
cosmetics, shoes. Establishing a strong brand image is developed by a superior product or
service
Consumer, business - correct answer-After performing a situation analysis, the marketing
manager moves on to identifying ____ and ____ markets.
Context - correct answer-Includes the backdrop of macroenvironmental factors. What is
happening in our industry that might reshape our future business? How is our economy and
that of our suppliers doing? What legal and political constraints do we face? What cultural
differences exist in our global segments?
Control - correct answer-refers to the effectiveness with which a marketing plan is
implemented. It involves the determination of standards, evaluation of actual performance,
adoption of corrective measures.
Coordination - correct answer-Refers to harmonious adjustment of the activities of the
marketing organization. It involves coordination among various activities such as sales
forecasting, product planning, product development, transportation, warehousing etc
Customer - correct answer-A ____ focus is always at the center of these marketing
management decisions.
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