MGT301 QUIZ NO 1 SOLVED 100% VERIFIED BY ADMIN (MID TERM SYLLABUS)
Q1: A company with limited resources might decide to serve all segments of a market.
Q2: The image a product reflects in the minds of consumers is called market segmentation.
Q3: Marketing research is conducted to systematically design, collect, and report data directly relevant to a specific marketing situation facing the organization.
Q4: After conducting formal marketing research for your department, you make an oral presentation with notes to management. You are following normal marketing research steps.
Q5: The first step in strategic planning is to define the company mission.
Q6: Revlon has clearly defined its "mission" of selling lifestyle and self-expression. As the firm prepares to lunch its strategic plan, the misison needs to be turned into a detailed set of objectives that guide the whole company.
Q7: ABC Interior Designs wants to collect research data through mechanical observation. The three typical methods are video cameras, checkout scanners, and internet cookies.
Q8: Guided by marketing strategy, the company designs a marketing mix made up of factors under its control-product, price, place, and promotion.
Q9: Marketers all agree that questionnaires are the most common research instrument.
Q10: An SBU can be a company division, a product line within a division, or sometimes a single product or brand.