MANAGEMENT

BUISENESS MANAGEMENT

MARKETING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of the following core standards of marketing involves collecting and using data to make future business decisions?
A
Selling
B
Financing
C
Marketing-Information Management
D
Product/Service Management
Explanation: 

Detailed explanation-1: -Marketing intelligence is everyday data that is relevant to the marketing efforts of an organization. Once collected, this data can be analyzed and used to make informed decisions regarding competitor behaviors, products, consumer trends, and market opportunities.

Detailed explanation-2: -The core standards of marketing are the basis of all marketing activities. There are six core standards associated with marketing. They are product/ service management, distribution, selling, marketing-information manage-ment, pricing, and promotion. Every marketing activity involves at least one core standard.

Detailed explanation-3: -These seven are: product, price, promotion, place, packaging, positioning and people. As products, markets, customers and needs change rapidly, you must continually revisit these seven Ps to make sure you’re on track and achieving the maximum results possible for you in today’s marketplace.

Detailed explanation-4: -It’s called marketing research. Marketing research is the process of collecting, analyzing, and reporting marketing information that can be used to answer questions or solve problems so as to improve a company’s bottom line. Marketing research includes a wide range of activities.

Detailed explanation-5: -One of the advantages of obtaining and using marketing information is that it helps business managers to. predict and control risks. train and direct employees.

There is 1 question to complete.