List and briefly describe the three major functions of marketing research
What will be an ideal response?
a. Scanning for opportunities and threats – a good research operation collects and analyzes information about customers, competitors, technology, global economic conditions, and other factors. It provides input to marketing managers that they can use to find new markets for existing products, uncover new market segments, and anticipate competitors' moves.
b. Risk assessment of future programs – when considering alternative marketing strategies, the marketing manager should test them against different scenarios.
c. Monitoring of current programs – marketing research plays a key role in monitoring the progress of the plan toward its objective.
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When there is a loss in the current period on a profitable contract, under both the percentage-of-completion and the completed-contract methods, the estimated cost increase requires a current period adjustment of excess gross profit recognized on the project in prior periods.
a. true b. false
________ capabilities allow marketers to potentially locate customers when they are geographically proximate to a retail outlet
A) Global positioning B) Multimedia C) Storage D) Networking