Exam 3: Collecting Information and Forecasting Demand

Suppose a cotton-textile company wants to estimate the area market potential for its high quality fabrics in Houston. List the possible steps that the marketers will follow to compute the area market potential.

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Question 1

Correct Answer:

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The marketers may follow the following steps: Identify all the potential buyers of textile in the area, primarily the firms manufacturing readymade garments in that area. In order to do that, the company may compile a list from a directory of all manufacturing establishments in the area. Then it can estimate the quantity of fabrics each firm might purchase to produce garments worth $1 million. Compiling the quantity required by each of the firms, the marketers can estimate the area market potential of the fabric produced by the textile company.

Each society contains ________, groups with shared values emerging from their special life experiences or circumstances.

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(Multiple Choice)

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Question 2

Correct Answer:

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Environmental regulations enforced by the government adversely affect automobile and steel manufacturing companies.

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(True/False)

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Question 3

Correct Answer:

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True

Companies assume that the lower the product-penetration percentage, the lower will be the market potential.

(True/False)

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Question 4

When a company is said to have engaged in "greenwashing," it means that the ________.

(Multiple Choice)

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Question 5

Markets with a segment of very wealthy consumers, but high income disparity, present few opportunities to marketers.

(True/False)

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Question 6

A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors' published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence.

(Multiple Choice)

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Question 7

Business has responded to increased awareness of nature's fragility and finiteness by producing wider varieties of camping, hiking, boating, and fishing gear such as boots, tents, backpacks, and accessories.

(True/False)

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Question 8

If a company were pursuing a policy of networking externally to gather marketing intelligence, it might collect competitors' ads or look up news stories about competitors.

(True/False)

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Question 9

Marketing strategies of firms should not consider the ethnic and racial diversity existing in their markets.

(True/False)

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Question 10

Briefly describe the methods of forecasting future demand on the basis of past sales.

(Essay)

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Question 11

Which of the following economies provide limited opportunities to international marketers to develop product sales?

(Multiple Choice)

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Question 12

Suppose the Belgian government prohibits sale of cigarettes to people below 20 years of age. Who are likely to comprise the qualified available market for Dunhill, a manufacturer of herbal cigarettes in Belgium?

(Essay)

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Question 13

Firms whose products require ________ resources - oil, coal, platinum, zinc, silver - face substantial cost increases as depletion approaches.

(Multiple Choice)

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Question 14

Mailing of a new offer to a handful of selected customers instead of all customers reduces the response rate to the offer.

(True/False)

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Question 15

Briefly describe the five main ways in which marketers can find relevant online information on competitors' strengths and weaknesses.

(Essay)

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Question 16

A company can take several steps to improve the quality of its marketing intelligence. Which of the following best describes the practice used by McDonald's when it sent pseudo customers to assess stores' internal speed standards?

(Multiple Choice)

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Question 17

For which of the following categories of products will demand forecasting be easiest?

(Multiple Choice)

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Question 18

A ________ is the limit approached by market demand as industry marketing expenditures approach infinity for a given marketing environment.

(Multiple Choice)

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Question 19

________ for a product is the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.

(Multiple Choice)

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Question 20

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Exam 3: Collecting Information and Forecasting Demand

Suppose a cotton-textile company wants to estimate the area market potential for its high quality fabrics in Houston. List the possible steps that the marketers will follow to compute the area market potential.

Each society contains ________, groups with shared values emerging from their special life experiences or circumstances.

Environmental regulations enforced by the government adversely affect automobile and steel manufacturing companies.

Companies assume that the lower the product-penetration percentage, the lower will be the market potential.

When a company is said to have engaged in "greenwashing," it means that the ________.

Markets with a segment of very wealthy consumers, but high income disparity, present few opportunities to marketers.

Business has responded to increased awareness of nature's fragility and finiteness by producing wider varieties of camping, hiking, boating, and fishing gear such as boots, tents, backpacks, and accessories.

If a company were pursuing a policy of networking externally to gather marketing intelligence, it might collect competitors' ads or look up news stories about competitors.

Marketing strategies of firms should not consider the ethnic and racial diversity existing in their markets.

Briefly describe the methods of forecasting future demand on the basis of past sales.

Which of the following economies provide limited opportunities to international marketers to develop product sales?

Suppose the Belgian government prohibits sale of cigarettes to people below 20 years of age. Who are likely to comprise the qualified available market for Dunhill, a manufacturer of herbal cigarettes in Belgium?

Firms whose products require ________ resources - oil, coal, platinum, zinc, silver - face substantial cost increases as depletion approaches.

Mailing of a new offer to a handful of selected customers instead of all customers reduces the response rate to the offer.

Briefly describe the five main ways in which marketers can find relevant online information on competitors' strengths and weaknesses.

A company can take several steps to improve the quality of its marketing intelligence. Which of the following best describes the practice used by McDonald's when it sent pseudo customers to assess stores' internal speed standards?

For which of the following categories of products will demand forecasting be easiest?

A ________ is the limit approached by market demand as industry marketing expenditures approach infinity for a given marketing environment.

________ for a product is the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

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