Exam 1: A Decision Making Perspective on Marketing Intelligence

Marketing intelligence helps to capture popular perceptions and changing trends, tastes and life styles and to make right decisions.

Situation analysis is a methodology that allows practitioners to prepare for the future by looking at trends in the present and mapping how these interrelate with each other.

Marketing Research is an immediate or an obvious path to finding solutions to all managerial problems.

Information in existing databases is not useful for gathering marketing intelligence data.

There are many situations where the timing of decisions is contingent upon research results

Which answer best describes a market researcher?

Once the marketing program is launched and its objectives set, further research is not likely to be beneficial.

In Scenario Planning technique key change indicators are monitored and used to gauge how events turn out.

Managers readily use the information generated through marketing research to solve their problems.

Political acceptability within the firm affects a manager's decision to use research information

If the information required for decision making already exists within the organization, in the form of results of a study conducted for a different problem or in the form of managerial experience and talents, marketing research is not called for.

A marketing research study should be ordered if and only if the research costs

The marketing concept requires that profit maximization should be the goal of marketing intelligence applications

Scenario Planning allows practitioners to prepare for the future by picturing a number of possible future scenarios

In a market planning process, situation analysis pertains to measuring performance strategies and refining them, if necessary.

Marketing researchers must learn to compromise, and sometimes that means sacrificing accuracy in exchange for a study that is efficient, relevant, and on time.

In a marketing planning process, scanning the environment and identifying the threats and opportunities is

All of these is true of market research except it:

Companies do market analysis to recognize, as early as possible, opportunities or problems that require them to change their marketing programs.

A new Marketing Research should be conducted even if the information required for decision making already exists in the form of results of a study conducted for a different problem.