Market and Market Research Exercise #2
Exercise:
1page single space
Using the internet find some secondary information on the computer industry within your country or a country of your choice. See if you can find two pieces of information:
1. Market share of computer manufacturers within your country.
2. The value of the computer industry within your country.
A) Having found this information, list why you think it is important for MJA, Inc. to have both sets of data?
Primary Research
Your company needs to find out more about the potential of computer users.
B) What primary research methods are appropriate to find out about the needs of computer users. What are the advantages and disadvantages of each?
C) Why is it important for MJA, Inc. to conduct both primary & secondary research?
Marketing Principles
Quiz #
1
Each Question is worth 4 points
(1)
What is the AMA’s definition of Marketing?
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(2) What are demographics and why are they important to use in Marketing?
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(3) According to the Marketing Concept, anything that can be produced can be sold. T F
(4) According to the Marketing Concept,
A. Companies produce only what customers need and/or want.
B. A company should produce only basic products.
C. Managements primary task is to convince buyers to purchase what we produce.
D. Management’s most important task is to keep production costs low.
E. ALL OF THE ABOVE.
F. NONE OF THE ABOVE.
(5) Most people think that marketing is only about the advertising and/or personal selling of goods and services. T F
(6) What are the 4P’s of the Marketing Mix?
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(7) The “4 P’s” of the marketing mix are closely linked and should not be thought as separate from each other. T F
(8) Marketing is about predominately:
A. Selling products/services.
B. Providing benefits.
C. Maximizing profit.
D. Increasing market share.
E. NONE OF THE ABOVE.
(9) What is meant by creating a “Competitive Advantage”?
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(10) Strategic planning refers to the managerial process of developing and
maintaining a match between an organization’s resources and it’s market
opportunities, while reflecting on market conditions. T F
(11) To use the Marketing Concept, a business should do the following
5 things:
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(12) The aim of market research is to find out who the customers are, what the customers want, where and when they want it. T F
(13) Strategic Planning is the process which involves the review of:
a. Market Conditions
b. Customer Needs
c. Competitive Strengths and Weaknesses
d. Sociopolitical, Legal and Economic Conditions
e. Technological Developments
f. Resource Availability
g. ALL OF THE ABOVE
h. NONE OF THE ABOVE
(14) Strategic planning can lead to specific opportunities or threats facing an
Organization. T F
(15) If you were to have a discussion with a friend about Marketing, why
would you tell them that they should in fact study it and know it if they are going to study business?
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(16) The major benefits to a S.W.O.T Analysis are:
a. Simple to use.
b. Reduces the costs of strategic planning.
c. Flexible.
d. Integrates and synthesizes diverse information.
e. Fosters collaboration among managers of different functional areas.
f. ALL OF THE ABOVE.
g. NONE OF THE ABOVE.
(17) According to our discussion on S.W.O.T analysis, to be effective it must be
5 things?
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(18) The primary responsibility of strategic planning is to look continuously outward and develop business activities in step with the anticipated environment.
T F
(19) Strategic planning is market-environment driven and is an extension of the company’s performance targets. T F
(20) The basic task of the marketing manager in developing marketing strategy for product/services consists of identifying the target market and developing a related market mix (controllable), to achieve a productive match or fit with a company’s market environment (uncontrollable). T F
(21) What is the greatest benefit of market research?
a. If the questions are asked correctly, the data will be invaluable.
b. It allows the marketers to understand how customers use a product.
c. The quantitative data provides an understanding of customers
d. By truly understanding customers’ wants, needs, and motivations marketers can create products that respond to those needs.
e. NONE OF THE ABOVE
(22) The focal point of marketing decisions is the customer. T F
(23) As a general rule in Marketing one should differentiate, not duplicate
others actions. T F
(24) Competition provides the rationale for strategy. T F
(25) Please define what is meant by a target market.
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1
Market and Market Research
Exercise #2
Having just talked to the management team about why marketing is important, you now want to conduct some secondary research into the computer industry and primary research into consumers’ needs, views and wants.
Exercise:
Using the internet find some secondary information on the computer industry within your country or a country of your choice. See if you can find two pieces of information:
1. Market share of computer manufacturers within your country.
2. The value of the computer industry within your country.
A) Having found this information, list why you think it is important for MJA, Inc. to have both sets of data?
Primary Research
Your company needs to find out more about the potential of computer users.
B) What primary research methods are appropriate to find out about the needs of computer users. What are the advantages and disadvantages of each?
C) Why is it important for MJA, Inc. to conduct both primary & secondary research?