Marketing Management Mid-Term Review

Which function of a marketing-information management system involves collecting facts and figures from internal and external sources of an ongoing basis?

• data processing

• information reporting

• data gathering

• marketing research

A company's marketers guess that if they invest in sales force training, sales will increase by 15%. This guess is called a(n) _____.

• simulation

• hypothesis

• independent variable

• pilot study

Which of the following is an important benefit of marketing plans?

• They develop exciting products

• They help recruit quality employees

• They ensure a yearly profit

• They can help obtain funding

Which of the following is a true statement about marketing-plan formats?

• They vary from business to business

• They must be double-spaced

• They must include charts and graphs

• They must put situation analysis before desired target market

External marketing data comes from sources outside the business such as _____.

• trade journals

• inventory records

• customer complaints

• sales forecasts

Which of the following is an example of exploratory research?

• case study

• test marketing

• survey

• pilot study

Which of the following is an example of descriptive research?

• clinical trial

• survey

• interview

• focus group

Which function is concerned with making decisions about investments and credit?

• marketing information management

• pricing

• financing

• distribution

Which of the following should be included in a marketing plan's executive summary?

• A description of the target market(s)

• The names and numbers of marketing team members

• The organization's mission statement

• A SWOT analysis chart

Marketing plans help marketers understand past decisions and outcomes better so that they can avoid _____.

• repeating past mistakes

• writing new marketing plans

• explaining problems to management

• losing market share