Can you please answer these, please? I\'m doing my own research as well. I want
ID: 326614 • Letter: C
Question
Can you please answer these, please? I'm doing my own research as well. I want to do well on my test with thorough answers.
CHAPTER 7 Know the job of the marketing manager, specifically as it pertains to this chapter Know the definition of the marketing dashboard, specifically, all of its components. . Know the definition of hypothesis and scientific method, be able to distinguish them. . Know the definition of marketing research, specifically, what is generally refers to. . Understand what "dig data" is and what is generally refers to. . Understand the various aspects of how marketing managers use information for making marketing decisions. . Be able to differentiate a marketing dashboard from a data warehouse and other terms listed in the chapter Know the definition of the scientific method and understand all the components of the definition. .Understand the five-step marketing research process. .Understand when the five-step marketing research process ends and under what circumstances. CHAPTER 8 Know the definition of a product. Know the difference between goods and services as specified in the chapter Know the definition of brand insistence and all of the other brand-related terms. . . . Know the definition of generic products. Know the alternate name for "dealer brands." Know what "battle of the brands" refers to. . Understand the importance of packaging as explained in this chapter . Know the definition of warranty . Know the definition of convenience products. Be able to distinguish it from different types of products.Explanation / Answer
7.
Job of the marketing manager-
Definition of the marketing dashboard-
Marketing dashboard shows the Marketing's key performance indicators, metrices and result of your marketing efforts. It combines data from different things and provide a consolidated view in the form of reports which help stakeholders in tracking process. It has to be regularly updated.
Definition of hypothesis and scientific method
Hypothesis- A hypothesis is a proposed explanation for an observation.. For example, we gain energy from glucose.
Scientific method-It is a way of research where a problem is found then related facts and data are collected which formulate a hypothesis which is then tested.
Definition of marketing research
It is a process of identifying markets and then studying and collecting data related to those markets in order to solve marketing problems.
What "dig data" is and what is generally refers to?
It is an analytic solution for MongoDB.
How marketing managers use information for making marketing decisions?
With the help of data, Marketing managers can come to know about how many people they engage in reality, how many people bought the product etc. On the basis of which decisions can be taken. Data gives the depp understanding of customer. It tells about the pricing psychology and customer behavior which helps in making marketing decisions.
Differentiate a marketing dashboard from a data warehouse
Both the dashboards are meant for visually tracking, analyzing and displaying key performance indicators (KPI), metrics and key data points. The only difference is Marketing dashboard is for marketing related activities and Warehouse is for warehouse related info.
Five-step marketing research process.
1. Define the Problem or Opportunity
2. Develop Your Research Plan
3. Collect Relevant Data and Information
4. Analyze Data and Report Findings
5. Take Action
When the five-step marketing research process ends and under what circumstances?
During research evaluation, managers may find that the research was inconclusive, additional research may be needed, or the research suggests specific courses of action , these are the circumstances when research process ends.
Chapter 8
Product definition
It can be an item or a service which is produced and then sold to customer
Difference between goods and services
Goods’ are the physical and tangible items while ‘Services’ is an activity of performing work for others.
Definition of brand insistence
It is a kind of stage where customer becomes very loyal to a particular brand and wants that only.
Definition of generic products
These products are not very famous and do not have a brand image. They are usually cheaper than the ones which are established in market.
Alternate name for "dealer brands.
Store brands. As these brands have store or supermarket name rather than company name and usually cheaper then other similar products in store.
Battle of the brands" refers to:
competetion between manufacturers and intermediaries.
Importance of packaging
It is very important as it not only protects the product from damage but also attracts customer and communicate the marketing idea for it.
Definition of warranty
It is a legal assurance and type of guarantee from manufacturer to the customer about replacing and repairing the product within a certain period.
Convenience products
These are the products bought by customers with minimum efforts and without thinking much.Foe example grocery items.