Defining the Corporate Mission
- What is the purpose of defining a corporate mission?
- A) To outline financial targets
- B) To define the company’s purpose and its long-term goals
- C) To reduce operational costs
- D) To manage employee performance
Answer: B) To define the company’s purpose and its long-term goals
- A corporate mission should primarily focus on:
- A) Internal employee goals
- B) The needs and expectations of stakeholders and customers
- C) Competitor analysis
- D) Short-term product development
Answer: B) The needs and expectations of stakeholders and customers
- The corporate mission statement is crucial for:
- A) Increasing product variety
- B) Guiding the overall strategy and providing a clear direction for the company
- C) Limiting customer engagement
- D) Reducing advertising costs
Answer: B) Guiding the overall strategy and providing a clear direction for the company
- A mission statement should:
- A) Focus only on profit maximization
- B) Include the company’s values, purpose, and goals
- C) Focus solely on product development
- D) Be a detailed list of tasks
Answer: B) Include the company’s values, purpose, and goals
- An effective corporate mission statement is:
- A) Long and complex
- B) Broad but clear in terms of guiding strategic planning
- C) Focused only on short-term goals
- D) Written for internal purposes only
Answer: B) Broad but clear in terms of guiding strategic planning
- Which of the following is NOT a characteristic of a good mission statement?
- A) Inspirational
- B) Narrow in focus
- C) Market-oriented
- D) Reflecting customer needs
Answer: B) Narrow in focus
- A corporate mission that focuses on satisfying customer needs is considered:
- A) Production-oriented
- B) Market-oriented
- C) Profit-driven
- D) Technology-oriented
Answer: B) Market-oriented
- What is a market-oriented mission statement?
- A) A mission focused on achieving sales targets
- B) A mission focused on satisfying customer needs
- C) A mission focused solely on product innovation
- D) A mission aimed at internal efficiency
Answer: B) A mission focused on satisfying customer needs
- Which of the following best describes a company’s mission?
- A) A strategic plan for achieving financial goals
- B) A broad statement of the organization’s purpose and what it seeks to achieve
- C) A list of specific product features
- D) A detailed marketing strategy
Answer: B) A broad statement of the organization’s purpose and what it seeks to achieve
- A mission statement that reflects an organization’s goals and values should be:
- A) Flexible and adaptable
- B) Focused on immediate profits
- C) Static and never changing
- D) Vague and open to interpretation
Answer: A) Flexible and adaptable
Establishing Strategic Business Units (SBUs)
- What is an SBU (Strategic Business Unit)?
- A) A division of a company focused on a specific market or product
- B) An external supplier
- C) A team responsible for employee management
- D) A technology development unit
Answer: A) A division of a company focused on a specific market or product
- An SBU should ideally have:
- A) Independent objectives and resources
- B) No defined market
- C) Full dependency on the parent company for operations
- D) A focus on internal organizational management
Answer: A) Independent objectives and resources
- A strategic business unit (SBU) is defined by all the following EXCEPT:
- A) Having its own set of competitors
- B) Operating within a specific market
- C) Sharing the same strategies as other SBUs
- D) Being responsible for its own profits and losses
Answer: C) Sharing the same strategies as other SBUs
- An example of a Strategic Business Unit (SBU) might be:
- A) A product development team
- B) A company division focused on a particular product line and target market
- C) The company’s legal department
- D) A customer service team
Answer: B) A company division focused on a particular product line and target market
- Each SBU should:
- A) Compete only within the company
- B) Have its own competitors and market strategies
- C) Share market strategies with other SBUs
- D) Focus on internal process improvement
Answer: B) Have its own competitors and market strategies
- Strategic Business Units (SBUs) help a company by:
- A) Reducing the need for market research
- B) Dividing the company into smaller, manageable parts with distinct strategies
- C) Focusing only on short-term profits
- D) Limiting product development
Answer: B) Dividing the company into smaller, manageable parts with distinct strategies
- SBUs can be defined by their:
- A) Market segmentation
- B) Competitors, customers, and product offerings
- C) Size of employee base
- D) Geographic location only
Answer: B) Competitors, customers, and product offerings
- What is the role of corporate-level strategy in managing SBUs?
- A) Setting pricing policies
- B) Providing direction for overall business growth and resource allocation
- C) Managing day-to-day operations
- D) Focusing solely on product development
Answer: B) Providing direction for overall business growth and resource allocation
- In the context of SBUs, how is success typically measured?
- A) By the number of employees hired
- B) Through profitability and competitive performance
- C) By the number of products sold
- D) By reducing marketing budgets
Answer: B) Through profitability and competitive performance
- Each SBU in a large corporation should ideally operate:
- A) Completely independently with no guidance
- B) Within a well-defined market with its own strategy and profit objectives
- C) With a shared marketing strategy across all units
- D) Focusing only on reducing costs
Answer: B) Within a well-defined market with its own strategy and profit objectives
Assigning Resources to Each SBU
- Resource allocation to SBUs is based on:
- A) Past financial performance
- B) Strategic importance and growth potential
- C) Geographic location
- D) Size of the SBU
Answer: B) Strategic importance and growth potential
- The process of assigning resources to SBUs involves:
- A) Randomly distributing funds
- B) Allocating resources based on the growth prospects and competitive strength of each unit
- C) Reducing budgets across all SBUs
- D) Focusing on internal operations only
Answer: B) Allocating resources based on the growth prospects and competitive strength of each unit
- What tool is commonly used to determine resource allocation among SBUs?
- A) SWOT analysis
- B) BCG Matrix (Boston Consulting Group Matrix)
- C) Customer satisfaction surveys
- D) Market segmentation grid
Answer: B) BCG Matrix (Boston Consulting Group Matrix)
- In the BCG Matrix, a cash cow refers to:
- A) A business unit with high market share in a low-growth market that generates steady revenue
- B) A rapidly growing SBU
- C) A unit that requires significant investment
- D) An underperforming SBU
Answer: A) A business unit with high market share in a low-growth market that generates steady revenue
- The BCG Matrix classifies SBUs into categories based on:
- A) Sales volume and profit margin
- B) Market growth rate and relative market share
- C) Employee size and product diversity
- D) Geographic location and competitor performance
Answer: B) Market growth rate and relative market share
- In the BCG Matrix, which category requires high investment due to low market share but high growth potential?
- A) Star
- B) Cash Cow
- C) Question Mark
- D) Dog
Answer: C) Question Mark
- An SBU classified as a Star in the BCG Matrix is:
- A) In a high-growth market with a high market share and requires continued investment
- B) In a low-growth market but has a high market share
- C) Generating steady cash flow with little investment required
- D) Struggling to compete in a low-growth market
Answer: A) In a high-growth market with a high market share and requires continued investment
- What action should be taken for an SBU classified as a Dog in the BCG Matrix?
- A) Invest heavily to boost growth
- B) Maintain resources and focus on stability
- C) Divest or reduce investment, as it has low market share in a low-growth market
- D) Reallocate all resources to marketing
Answer: C) Divest or reduce investment, as it has low market share in a low-growth market
- Cash cows in the BCG Matrix are known for:
- A) Rapid growth and high profits
- B) Providing a steady stream of cash with minimal investment
- C) Needing heavy reinvestment to grow
- D) Being in a high-growth market with low market share
Answer: B) Providing a steady stream of cash with minimal investment
- The purpose of using the BCG Matrix is to:
- A) Increase employee satisfaction
- B) Help companies allocate resources effectively among different business units
- C) Focus only on reducing costs
- D) Analyze customer satisfaction
Answer: B) Help companies allocate resources effectively among different business units
- Which of the following describes a star SBU in the BCG Matrix?
- A) A unit with low market share in a high-growth market
- B) A unit with high market share in a high-growth market
- C) A unit in a low-growth market
- D) A unit with low potential for revenue generation
Answer: B) A unit with high market share in a high-growth market
- A company with multiple cash cows should:
- A) Invest heavily in all business units
- B) Focus on maximizing cash flow to support investments in stars and question marks
- C) Divest the cash cows to focus on new markets
- D) Cut costs to improve profitability
Answer: B) Focus on maximizing cash flow to support investments in stars and question marks
- Which of the following is NOT a typical characteristic of a question mark SBU?
- A) High growth potential
- B) Low market share
- C) High cash generation
- D) Requiring substantial investment
Answer: C) High cash generation
- Which strategic planning tool is used to allocate resources based on market growth and market share?
- A) PEST analysis
- B) SWOT analysis
- C) BCG Matrix
- D) Competitive positioning analysis
Answer: C) BCG Matrix
- The main objective of resource allocation in corporate strategic planning is:
- A) Maximizing long-term profitability by investing in high-potential business units
- B) Reducing marketing expenses
- C) Expanding all SBUs equally
- D) Cutting down on employee numbers
Answer: A) Maximizing long-term profitability by investing in high-potential business units
- What happens when a star SBU matures and growth slows down?
- A) It becomes a cash cow
- B) It is divested
- C) It requires more investment
- D) It turns into a dog
Answer: A) It becomes a cash cow
- Strategic planning for SBUs involves:
- A) Assigning each business unit a specific role in achieving corporate objectives
- B) Focusing solely on internal processes
- C) Aligning all SBUs to the same marketing strategy
- D) Reducing investments across all SBUs
Answer: A) Assigning each business unit a specific role in achieving corporate objectives
- Which type of SBU typically requires significant investment but has low returns initially?
- A) Cash cow
- B) Dog
- C) Star
- D) Question mark
Answer: D) Question mark
Assessing Growth Opportunities
- Assessing growth opportunities involves:
- A) Finding new markets or ways to grow within existing markets
- B) Cutting operational costs
- C) Reducing employee salaries
- D) Scaling back on product development
Answer: A) Finding new markets or ways to grow within existing markets
- Market penetration as a growth strategy focuses on:
- A) Introducing new products to new markets
- B) Increasing sales of existing products in current markets
- C) Entering international markets
- D) Developing entirely new products
Answer: B) Increasing sales of existing products in current markets
- A market development strategy involves:
- A) Expanding into new geographic markets with existing products
- B) Creating new products for current markets
- C) Increasing sales through aggressive advertising
- D) Reducing operational costs
Answer: A) Expanding into new geographic markets with existing products
- Which of the following growth strategies involves creating new products for existing markets?
- A) Market development
- B) Diversification
- C) Product development
- D) Market penetration
Answer: C) Product development
- Diversification involves:
- A) Expanding existing products into new markets
- B) Developing new products for new markets
- C) Focusing solely on product innovation
- D) Reducing operational costs
Answer: B) Developing new products for new markets
- Ansoff’s Matrix is used to:
- A) Evaluate customer satisfaction
- B) Assess a company’s growth opportunities by analyzing products and markets
- C) Analyze employee performance
- D) Manage inventory levels
Answer: B) Assess a company’s growth opportunities by analyzing products and markets
- In Ansoff’s Matrix, which strategy involves selling existing products to existing markets?
- A) Diversification
- B) Product development
- C) Market penetration
- D) Market development
Answer: C) Market penetration
- Market development is an ideal strategy when:
- A) A company seeks to grow by entering new markets with its current products
- B) The company wants to introduce new products to current markets
- C) The company wants to increase customer loyalty
- D) There is no growth in the current market
Answer: A) A company seeks to grow by entering new markets with its current products
- Diversification is often considered:
- A) The least risky growth strategy
- B) The most risky growth strategy
- C) A strategy to reduce operational costs
- D) A strategy for short-term growth
Answer: B) The most risky growth strategy
- Vertical integration is a strategy where a company:
- A) Diversifies into new markets
- B) Controls more stages of the supply chain, such as production and distribution
- C) Focuses on reducing marketing costs
- D) Merges with competitors
Answer: B) Controls more stages of the supply chain, such as production and distribution
- Horizontal integration occurs when:
- A) A company acquires or merges with a competitor in the same industry
- B) A company develops new products for a different industry
- C) A company diversifies its products
- D) A company reduces its production levels
Answer: A) A company acquires or merges with a competitor in the same industry
- Concentric diversification involves:
- A) Entering new markets with unrelated products
- B) Developing new products that are related to the company’s existing offerings
- C) Reducing marketing budgets
- D) Offering existing products to a smaller audience
Answer: B) Developing new products that are related to the company’s existing offerings
- Conglomerate diversification refers to:
- A) Expanding within the same market segment
- B) Entering completely unrelated markets with new products
- C) Reducing operational budgets
- D) Acquiring competitors
Answer: B) Entering completely unrelated markets with new products
- Which of the following is a key component of assessing growth opportunities?
- A) Identifying new products and markets for expansion
- B) Reducing employee benefits
- C) Cutting marketing expenses
- D) Focusing only on cash cow SBUs
Answer: A) Identifying new products and markets for expansion
- Vertical integration can help a company by:
- A) Increasing prices of products
- B) Controlling more aspects of the supply chain, reducing dependency on external suppliers
- C) Reducing employee size
- D) Limiting marketing efforts
Answer: B) Controlling more aspects of the supply chain, reducing dependency on external suppliers
- Horizontal diversification involves:
- A) Expanding into unrelated markets
- B) Offering new products to the same market
- C) Merging with a competitor in the same industry
- D) Cutting marketing costs
Answer: C) Merging with a competitor in the same industry
Organization and Organizational Culture
- Organizational culture refers to:
- A) The company’s production processes
- B) The shared values, beliefs, and norms within a company
- C) External marketing strategies
- D) Competitor analysis
Answer: B) The shared values, beliefs, and norms within a company
- Organizational culture refers to:
- A) The company’s production processes
- B) The shared values, beliefs, and norms within a company
- C) External marketing strategies
- D) Competitor analysis
Answer: B) The shared values, beliefs, and norms within a company
- A strong organizational culture contributes to:
- A) Employee engagement and commitment to the company’s goals
- B) Reducing marketing expenses
- C) Expanding product lines
- D) Increasing external competition
Answer: A) Employee engagement and commitment to the company’s goals
- Organizational culture plays a critical role in:
- A) Defining employee roles
- B) Shaping employee behavior and how they interact within the company
- C) Setting product prices
- D) Managing distribution channels
Answer: B) Shaping employee behavior and how they interact within the company
- A company with a strong organizational culture is likely to experience:
- A) High employee turnover
- B) Better alignment with company goals and improved performance
- C) Low customer satisfaction
- D) Higher operational costs
Answer: B) Better alignment with company goals and improved performance
- The alignment of organizational culture with strategic goals is important for:
- A) Maximizing short-term profits
- B) Ensuring that all employees work toward the company’s long-term objectives
- C) Reducing employee size
- D) Eliminating competition
Answer: B) Ensuring that all employees work toward the company’s long-term objectives
- Organizational culture affects which of the following aspects in a company?
- A) Marketing channels
- B) Employee motivation and collaboration
- C) Product development timelines
- D) Geographic expansion
Answer: B) Employee motivation and collaboration
- Organizational culture can be a source of:
- A) Competitive advantage if it aligns well with the company’s mission and goals
- B) Market decline if it focuses too much on customer feedback
- C) Reduced operational efficiency
- D) Product failure
Answer: A) Competitive advantage if it aligns well with the company’s mission and goals
- A weak organizational culture can lead to:
- A) Higher employee retention
- B) Misalignment with strategic objectives and poor performance
- C) Increased competitive advantage
- D) Lower employee turnover
Answer: B) Misalignment with strategic objectives and poor performance
- A company’s mission statement often reflects its:
- A) Short-term marketing goals
- B) Organizational culture and values
- C) Product portfolio
- D) Advertising strategies
Answer: B) Organizational culture and values
- Innovation within an organization is often driven by:
- A) A rigid organizational structure
- B) A culture that promotes creativity and risk-taking
- C) Limiting employee input
- D) Reducing investment in research and development
Answer: B) A culture that promotes creativity and risk-taking
- An adaptive organizational culture allows a company to:
- A) Ignore market trends
- B) Quickly respond to changes in the external environment
- C) Focus solely on cost reduction
- D) Resist new technologies
Answer: B) Quickly respond to changes in the external environment
- A company’s corporate mission is most effective when:
- A) It is only shared internally
- B) It is aligned with the company’s core values and communicated to all stakeholders
- C) It is focused exclusively on financial targets
- D) It is revised frequently
Answer: B) It is aligned with the company’s core values and communicated to all stakeholders
Marketing Innovation
- Marketing innovation refers to:
- A) New ways to reduce product quality
- B) Creating and implementing new ideas, products, services, or processes to meet customer needs
- C) Cutting down the marketing budget
- D) Focusing only on existing products
Answer: B) Creating and implementing new ideas, products, services, or processes to meet customer needs
- Innovative marketing strategies are important for:
- A) Expanding product lines
- B) Gaining competitive advantage and adapting to market changes
- C) Reducing product features
- D) Limiting customer engagement
Answer: B) Gaining competitive advantage and adapting to market changes
- A company that prioritizes marketing innovation is likely to:
- A) Lose market share
- B) Create value for customers and sustain long-term growth
- C) Focus solely on cost-cutting
- D) Limit new product launches
Answer: B) Create value for customers and sustain long-term growth
- Marketing innovation can include:
- A) Only new product launches
- B) New business models, marketing channels, and customer engagement strategies
- C) Reducing the number of product lines
- D) Limiting customer feedback
Answer: B) New business models, marketing channels, and customer engagement strategies
- A company fostering marketing innovation should:
- A) Avoid risks
- B) Encourage creativity and experimentation in marketing approaches
- C) Focus only on proven marketing techniques
- D) Limit investment in new technologies
Answer: B) Encourage creativity and experimentation in marketing approaches
- Disruptive innovation in marketing refers to:
- A) Incremental improvements to existing products
- B) Introducing new technologies or business models that significantly change the market
- C) Reducing marketing budgets
- D) Focusing solely on customer feedback
Answer: B) Introducing new technologies or business models that significantly change the market
- Marketing insight is:
- A) A detailed marketing plan
- B) Deep understanding derived from data, allowing companies to anticipate customer needs and trends
- C) The company’s financial performance
- D) A competitor analysis tool
Answer: B) Deep understanding derived from data, allowing companies to anticipate customer needs and trends
- Data-driven marketing innovation helps companies:
- A) Reduce employee involvement
- B) Tailor marketing strategies based on customer behavior, preferences, and market trends
- C) Cut costs by focusing on a single marketing channel
- D) Eliminate customer research
Answer: B) Tailor marketing strategies based on customer behavior, preferences, and market trends
- Open innovation in marketing encourages companies to:
- A) Rely solely on internal research and development
- B) Collaborate with external partners, customers, and suppliers to create new products and services
- C) Focus on improving existing products only
- D) Limit customer input
Answer: B) Collaborate with external partners, customers, and suppliers to create new products and services
- Crowdsourcing is a form of:
- A) Closed innovation
- B) Marketing innovation that leverages customer input and external talent for idea generation and problem-solving
- C) Reducing customer engagement
- D) Increasing employee size
Answer: B) Marketing innovation that leverages customer input and external talent for idea generation and problem-solving
- Marketing innovation often leads to:
- A) Decreased market share
- B) Higher customer satisfaction and engagement
- C) Increased operational costs
- D) Reduced brand loyalty
Answer: B) Higher customer satisfaction and engagement
- Successful marketing innovation requires:
- A) Limiting marketing research
- B) Understanding customer needs, market trends, and technological advancements
- C) Ignoring competitor actions
- D) Reducing investment in digital tools
Answer: B) Understanding customer needs, market trends, and technological advancements
- A company looking to drive marketing innovation should:
- A) Encourage risk-taking and experimentation
- B) Avoid changes to existing marketing strategies
- C) Focus only on short-term profits
- D) Limit employee involvement
Answer: A) Encourage risk-taking and experimentation
- Customer-centric innovation in marketing focuses on:
- A) Reducing customer input
- B) Creating products and services that directly address customer pain points and needs
- C) Prioritizing internal processes over customer feedback
- D) Limiting customer interaction
Answer: B) Creating products and services that directly address customer pain points and needs
Creating Marketing Insight
- Marketing insight refers to:
- A) Superficial market data
- B) Deep understanding of consumer behavior and market dynamics that helps inform decision-making
- C) Only financial analysis
- D) Internal business performance metrics
Answer: B) Deep understanding of consumer behavior and market dynamics that helps inform decision-making
- Data-driven insights allow companies to:
- A) Ignore customer feedback
- B) Tailor marketing efforts based on patterns observed in customer behavior and preferences
- C) Reduce investment in marketing technologies
- D) Focus only on operational efficiencies
Answer: B) Tailor marketing efforts based on patterns observed in customer behavior and preferences
- Big data plays a critical role in:
- A) Ignoring customer feedback
- B) Generating actionable insights that help marketers understand customer behavior and preferences
- C) Reducing product quality
- D) Increasing operational costs
Answer: B) Generating actionable insights that help marketers understand customer behavior and preferences
- Marketing insights derived from customer data are essential for:
- A) Lowering product costs
- B) Tailoring marketing strategies to fit consumer needs and market trends
- C) Limiting product innovation
- D) Reducing customer engagement
Answer: B) Tailoring marketing strategies to fit consumer needs and market trends
- Customer insights allow companies to:
- A) Increase production costs
- B) Develop products and services that meet the specific needs of the target audience
- C) Focus only on internal processes
- D) Ignore customer preferences
Answer: B) Develop products and services that meet the specific needs of the target audience
- Marketing analytics tools are used to:
- A) Measure financial performance only
- B) Analyze and interpret data to create actionable insights for marketing strategies
- C) Eliminate competitor analysis
- D) Limit marketing to traditional methods
Answer: B) Analyze and interpret data to create actionable insights for marketing strategies
- A company using marketing insights can better:
- A) Cut marketing budgets
- B) Anticipate market trends and make proactive business decisions
- C) Avoid customer research
- D) Ignore feedback from competitors
Answer: B) Anticipate market trends and make proactive business decisions
- Customer journey mapping is a tool that helps in:
- A) Reducing product features
- B) Understanding every touchpoint a customer interacts with on their path to purchase
- C) Limiting the use of marketing channels
- D) Lowering advertising budgets
Answer: B) Understanding every touchpoint a customer interacts with on their path to purchase
- Predictive analytics in marketing is used to:
- A) Set pricing strategies
- B) Forecast future customer behavior and market trends based on current data
- C) Focus only on historical performance
- D) Manage product distribution
Answer: B) Forecast future customer behavior and market trends based on current data
- Marketing insights help companies in:
- A) Ignoring market trends
- B) Creating strategies that are informed by data-driven decision-making
- C) Reducing customer interaction
- D) Limiting employee involvement in decision-making
Answer: B) Creating strategies that are informed by data-driven decision-making
- Sentiment analysis is a technique used to:
- A) Ignore customer opinions
- B) Measure and analyze customer opinions, emotions, and attitudes toward a brand
- C) Focus only on product innovation
- D) Reduce product variety
Answer: B) Measure and analyze customer opinions, emotions, and attitudes toward a brand
- Real-time data analytics in marketing helps companies:
- A) Avoid customer feedback
- B) Make quick, informed decisions based on up-to-date information about customer behavior and market conditions
- C) Reduce marketing efforts
- D) Focus solely on financial analysis
Answer: B) Make quick, informed decisions based on up-to-date information about customer behavior and market conditions
- Customer segmentation based on marketing insights allows:
- A) Ignoring market diversity
- B) Tailoring marketing efforts to specific customer groups with similar characteristics
- C) Focusing only on product features
- D) Limiting the use of marketing data
Answer: B) Tailoring marketing efforts to specific customer groups with similar characteristics
- A/B testing in marketing is used to:
- A) Measure customer satisfaction
- B) Compare two different versions of a marketing asset to determine which performs better
- C) Set long-term financial goals
- D) Analyze competitor performance
Answer: B) Compare two different versions of a marketing asset to determine which performs better
- Customer feedback plays a key role in creating:
- A) Inefficient marketing strategies
- B) Valuable insights that inform product development and improve customer experiences
- C) Higher operational costs
- D) Unnecessary marketing data
Answer: B) Valuable insights that inform product development and improve customer experiences
- Marketing dashboards provide:
- A) Insights into employee performance
- B) A visual representation of key marketing metrics in real-time to track campaign performance
- C) Only financial information
- D) Competitor data
Answer: B) A visual representation of key marketing metrics in real-time to track campaign performance
- Social media listening allows marketers to:
- A) Ignore customer complaints
- B) Monitor and analyze conversations about the brand across social media platforms
- C) Focus only on traditional marketing channels
- D) Limit customer engagement
Answer: B) Monitor and analyze conversations about the brand across social media platforms
- Predictive modeling in marketing helps companies:
- A) Increase operational costs
- B) Forecast customer behavior and preferences based on past data
- C) Limit product innovation
- D) Reduce marketing budgets
Answer: B) Forecast customer behavior and preferences based on past data
- Marketing insights derived from customer analytics enable companies to:
- A) Focus only on financial performance
- B) Improve targeting and personalization by understanding customer needs and preferences
- C) Limit innovation in product development
- D) Reduce customer interaction
Answer: B) Improve targeting and personalization by understanding customer needs and preferences
- Marketing insights help companies achieve:
- A) Only short-term success
- B) Long-term customer loyalty and competitive advantage through informed decision-making
- C) Lower customer satisfaction
- D) Limited engagement in new market trends
Answer: B) Long-term customer loyalty and competitive advantage through informed decision-making
