Marketing and The Information Age
Read Marketing and The Information Age and check the IELTS Reading answers. For the early practitioners of marketing in the late 19th and early 20th centuries, the business of selling was simply a matter of continually finding new customers. By contrast, marketing managers in the current era recogn…
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For the early practitioners of marketing in the late 19th and early 20th centuries, the business of selling was simply a matter of continually finding new customers. By contrast, marketing managers in the current era recognise the importance of gathering information about the market and about potential customers. They recognise that if companies are to be profitable, customers must gain and retain their perceptions of value from the brands they buy over a long time frame, rather than from a single transaction. This also means that customers must see value in returning continually to the stores where they shop, as well as to the service providers they deal with.
Vocabulary from this passage
10 words worth learning before you sit the test, each with the sentence it appears in.
- bombard verb
To continuously subject an individual or group to an overwhelming flow of information, questions, or stimuli
Contemporary social media algorithms actively bombard their users with highly targeted, personalized corporate advertisements.
- competitive advantage noun
A strategic condition or circumstance that places an organization in a highly favorable or superior business position
Investing heavily in proprietary software development provides the firm with a sustainable competitive advantage.
- convergence noun
The simultaneous merging of previously distinct technologies, industries, or separate devices into a unified entity
The rapid convergence of telecommunications and computing technology has entirely transformed the global media landscape.
- discriminating adjective
Having or demonstrating highly refined taste, excellent judgment, or the precise ability to recognize subtle distinctions
Modern digital consumers are becoming increasingly discriminating when selecting premium subscription-based entertainment services.
- manipulate verb
To skillfully handle, intelligently control, or structurally alter complex data or technical information
Advanced analytical software permits researchers to manipulate vast datasets to identify otherwise hidden statistical trends.
- perception noun
The subjective way in which something is generally regarded, understood, or consciously interpreted by individuals
Public perception of the corporation improved dramatically following their successful environmental sustainability campaign.
- practitioner noun
A professional actively engaged in practicing a specific discipline, art, or highly specialized occupation
Experienced marketing practitioners constantly analyze consumer data to refine their targeted promotional strategies.
- strategic asset noun
A critically vital resource that contributes substantially to an organization's long-term commercial success and operational objectives
Within the modern digital economy, exclusive demographic consumer data constitutes an incredibly valuable strategic asset.
- withhold verb
To deliberately refuse to provide or intentionally suppress essential information that is required or formally requested
The executive board controversially attempted to withhold critical financial disclosures from the independent regulatory investigators.
- yield verb
To actively produce or provide a measurable agricultural, industrial, or tangible financial product or return
The newly implemented international investment portfolio is reliably projected to yield substantial financial dividends next quarter.
Answers with explanations
- 27. F
Paragraph F discusses how product controllers are bombarded with huge amounts of data and notes that the real problem is **drowning in it**. This is a direct paraphrase of the fact that there may be **too much information to cope with**.
- 28. A
Paragraph A states the importance of customers **returning continually** to stores. This directly matches the concept of generating **repeat business** mentioned in the prompt.
- 29. B
Paragraph B offers the example of a TV channel sending text messages and alerts about a user's specific **favourite artists**. This highly targeted approach is an **example of personalised marketing**.
- 30. H
Paragraph H provides an explicit mathematical **illustration** demonstrating why it can be foolish to pay for **additional information** when the cost of the research exceeds the potential profit increase. This confirms the statement precisely.
- 31. D
Paragraph D connects an increase in **household incomes** (greater wealth) with choices widening and buyers becoming better at discriminating. This perfectly matches the statement about how greater wealth enables customers to select from a **broader range of products**.
- 32. NO
The statement claims that the **majority** of statistics are gathered by government agencies. However, the text explicitly states that while some information is gathered by the government, **most of it** is gathered by marketing organisations. Because the statement contradicts the text, the answer is NO.
- 33. NOT GIVEN
The passage confirms that Australia and New Zealand are both moving towards information-based economies. However, it does not compare the **speed** of this transition between the two countries. Because we cannot verify which moved more quickly, the answer is NOT GIVEN.
- 34. YES
The text states that **subordinates** (employees) may **withhold** (hide) information that they believe will **reflect badly** on them (give a poor impression). Since this perfectly matches the claim, the answer is YES.
- 35. YES
The passage points out that despite having the capacity to provide information, **managers** often **do not use it well**. This matches the statement that managers frequently **fail to make good use** of the information they receive. The answer is YES.
- 36. YES
The text clearly states that information's **value comes from its use**. This directly supports the claim that marketing information **has to be used to be valuable**. The statement mirrors the writer's argument, making the answer YES.
- 37. marketing managers
The flow chart maps the process of the MIS, and asks what the system begins with. The text explicitly states that the MIS begins and ends with **marketing managers**. The plural noun phrase perfectly fits the start of the chart within the two-word limit.
- 38. information needs
The flow chart asks what it 'Finds out' about the managers. The text explains that the system interacts with managers to assess (find out) their **information needs**. The phrase exactly meets the two-word limit and grammatical requirement.
- 39. internal records
The flow chart lists three sources through which information is developed: marketing intelligence activities, the research process, and a third missing item. The passage lists these three exact items, identifying the first as **internal records**. This fits the two-word limit.
- 40. analysis unit
The flow chart asks what the data is 'Processed by'. The passage explicitly states that the **analysis unit** is responsible for processing the data to make it useful before distribution. This matches the flow perfectly and adheres to the word limit.