Exam 3: Collecting Information and Forecasting Demand

A ________ is a direction or sequence of events that has some momentum and durability; it reveals the shape of the future and can provide strategic direction.

A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.

Of all illiterate adults in the world, two-thirds are women.

PlanetFeedback.com is an example of a government-related public resource, which is one of the five main ways marketers can research competitors' product strengths and weaknesses online.

List three examples of how companies are using Big Data.

If a cheese factory was interested in estimating the market potential for a new light cheese and estimated the potential by multiplying a base number (population) by several adjusting percentages (e.g., personal discretionary income per capita, average percentage of discretionary income spent on food, etc.), it would be using the chain-ratio method to estimate market potential.

Abby lives in a suburb of Atlanta with her three children. She is part of the biggest household change this decade, which was ________.

A ________ is "unpredictable, short-lived, and without social, economic, and political significance."

The time between introduction of products and peak production is shrinking.

Only one level of industry marketing expenditure will actually occur. The market demand corresponding to this level is called the ________.

Which of the following is true about the technology trends that marketers should monitor?

Simpsons, a manufacturer of air conditioners, finds that its sales potential is less than its market potential even when it spends a sufficient amount on advertisements and after sale services. What is the basic reason behind such an observation by the marketers of Simpsons?

By 2010, only ________ percent of US households were traditional households.

What are the various steps a company can take to improve the quality of its marketing intelligence function?

A ________ is the maximum sales available to all firms in an industry during a given period, under a given level of industry marketing effort and environmental conditions.

A company can expect to expand its market share to a large extent when ________.

Today, corporations need to make sure that they are good corporate citizens and that their consumer messages are honest in order to positively align themselves with consumers' views of ________.

A growing portion of US R&D expenditures goes to the development as opposed to the research side.

The ________ market is the part of the qualified available market the company decides to pursue.

Describe the steps in the order-to-payment cycle.