Question 1

A low market-penetration index indicates ________.

Accepted Answer

A)  it will be expensive for the firms to attract the few remaining prospects 
B)  substantial growth potential for all firms 
C)  the rival firms try to capture greater market share by lowering their product price 
D)  the profit margins of the firms decline 
E)  the firms cannot raise demand substantially by raising its market expenditure 
A)  it will be expensive for the firms to attract the few remaining prospects 
B)  substantial growth potential for all firms 
C)  the rival firms try to capture greater market share by lowering their product price 
D)  the profit margins of the firms decline 
E)  the firms cannot raise demand substantially by raising its market expenditure

Question 2

Time-series analysis based on past sales breaks past time series into four components - trend, cycle, seasonal, and ________.

Accepted Answer

A)  regular 
B)  annual 
C)  erratic 
D)  recurring 
E)  periodic 
A)  regular 
B)  annual 
C)  erratic 
D)  recurring 
E)  periodic

Question 3

A growing population does not mean growing markets unless ________.

Accepted Answer

A)  the people are under a democratic system of government 
B)  there is common ownership of all resources 
C)  people have sufficient purchasing power 
D)  there is adequate governmental intervention in the market 
E)  the government has a budget surplus 
A)  the people are under a democratic system of government 
B)  there is common ownership of all resources 
C)  people have sufficient purchasing power 
D)  there is adequate governmental intervention in the market 
E)  the government has a budget surplus

Question 4

There is a global trend toward an aging population.

Accepted Answer

A) True 
 B)False

Question 5

The company's marketing information system should be a mix of what managers think they need, what managers really need, and ________.

Accepted Answer

A)  what the marketing research department is able to do 
B)  what consumers are willing to consume 
C)  what the government policies allow 
D)  what is acceptable at the industry level 
E)  what is economically feasible 
A)  what the marketing research department is able to do 
B)  what consumers are willing to consume 
C)  what the government policies allow 
D)  what is acceptable at the industry level 
E)  what is economically feasible

Question 6

The available purchasing power in an economy depends on current income, prices, savings, debt, and credit availability.

Accepted Answer

A) True 
 B)False

Question 7

The sales goal set for a product line, company division, or sales representative of an organization is called ________.

Accepted Answer

A)  sales budget 
B)  company sales forecast 
C)  sales quota 
D)  company sales potential 
E)  market potential 
A)  sales budget 
B)  company sales forecast 
C)  sales quota 
D)  company sales potential 
E)  market potential

Question 8

Regulation of technological changes has been relaxed by the US government over recent years.

Accepted Answer

A) True 
 B)False

Question 9

How do the distributors, retailers, and other intermediaries help a company to improve the quantity and quality of its marketing intelligence?

Accepted Answer

Since marketing intermediaries

Question 10

Which of the following is NOT one of the reasons consumers are concerned about privacy?

Accepted Answer

A)  Consumers worry that they will be robbed or cheated. 
B)  Consumers worry that their information will be used to customize their offers. 
C)  Consumers believe private information will be used against them. 
D)  Consumers believe they will be bombarded by solicitations. 
E)  Consumers believe that children will be targeted by ads. 
A)  Consumers worry that they will be robbed or cheated. 
B)  Consumers worry that their information will be used to customize their offers. 
C)  Consumers believe private information will be used against them. 
D)  Consumers believe they will be bombarded by solicitations. 
E)  Consumers believe that children will be targeted by ads.

Question 11

Environmental laws imposed by the government may at times create new business opportunities.

Accepted Answer

A) True 
 B)False

Question 12

The market forecast shows expected market demand, not maximum market demand.

Accepted Answer

A) True 
 B)False

Question 13

The distance between the market minimum and the market potential shows the overall product penetration percentage.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following elements of sociocultural environment can be associated with the growing demand for "social surrogates" like social networking sites, television, etc.?

Accepted Answer

A)  views of ourselves 
B)  views of organizations 
C)  views of others 
D)  views of nature 
E)  views of the universe 
A)  views of ourselves 
B)  views of organizations 
C)  views of others 
D)  views of nature 
E)  views of the universe

Question 15

Which of the following is the second largest contributor to global warming, accounting for roughly a fifth of carbon emissions?

Accepted Answer

A)  transportation 
B)  primary metal production facilities 
C)  electrical power plants 
D)  aerosol cans 
E)  rural cooking fires 
A)  transportation 
B)  primary metal production facilities 
C)  electrical power plants 
D)  aerosol cans 
E)  rural cooking fires

Question 16

Population growth is highest in countries and communities that can least afford it.

Accepted Answer

A) True 
 B)False

Question 17

As the manager of an organization that is attempting to build a Marketing Information System (MIS), you have been informed that an MIS is built upon three fundamental information sources. The sources are ________, marketing intelligence activities, and marketing research.

Accepted Answer

A)  external records and documents 
B)  databases found on the Internet 
C)  consultant reports 
D)  internal company records 
E)  secondary data from government sources such as the Better Business Bureau 
A)  external records and documents 
B)  databases found on the Internet 
C)  consultant reports 
D)  internal company records 
E)  secondary data from government sources such as the Better Business Bureau

Question 18

Suppose the brand development index of the detergent manufactured by Fasclean in Boston is 90 and in Austin is 48. Compare the marketing opportunity of Fasclean detergent in the two cities.

Accepted Answer

Fasclean has a great

Question 19

Novamalt Inc., a manufacturer of health drinks, plans to introduce its new range of health drinks for women into the market. It involves a specialized marketing research firm to forecast the sales of this product. The research firm analyzes past buying behavior of customers and uses time-series analysis for making the sales forecasts. Which of the following information bases is being used by the research firm in this scenario?

Accepted Answer

A)  what people say 
B)  what people do 
C)  what people have done 
D)  what people will do 
E)  what people speculate 
A)  what people say 
B)  what people do 
C)  what people have done 
D)  what people will do 
E)  what people speculate

Question 20

The ________ begins with sales representatives and dealers sending orders to the firms and is followed by the sales department preparing invoices, and finally generating shipping and billing documents which are then sent to various departments.

Accepted Answer

A)  payroll system 
B)  market research process 
C)  human resources system 
D)  expense cycle 
E)  order-to-payment cycle 
A)  payroll system 
B)  market research process 
C)  human resources system 
D)  expense cycle 
E)  order-to-payment cycle

Exam 3: Collecting Information and Forecasting Demand

A low market-penetration index indicates ________.

Time-series analysis based on past sales breaks past time series into four components - trend, cycle, seasonal, and ________.

A growing population does not mean growing markets unless ________.

There is a global trend toward an aging population.

The company's marketing information system should be a mix of what managers think they need, what managers really need, and ________.

The available purchasing power in an economy depends on current income, prices, savings, debt, and credit availability.

The sales goal set for a product line, company division, or sales representative of an organization is called ________.

Regulation of technological changes has been relaxed by the US government over recent years.

How do the distributors, retailers, and other intermediaries help a company to improve the quantity and quality of its marketing intelligence?

Which of the following is NOT one of the reasons consumers are concerned about privacy?

Environmental laws imposed by the government may at times create new business opportunities.

The market forecast shows expected market demand, not maximum market demand.

The distance between the market minimum and the market potential shows the overall product penetration percentage.

Which of the following elements of sociocultural environment can be associated with the growing demand for "social surrogates" like social networking sites, television, etc.?

Which of the following is the second largest contributor to global warming, accounting for roughly a fifth of carbon emissions?

Population growth is highest in countries and communities that can least afford it.

As the manager of an organization that is attempting to build a Marketing Information System (MIS), you have been informed that an MIS is built upon three fundamental information sources. The sources are ________, marketing intelligence activities, and marketing research.

Suppose the brand development index of the detergent manufactured by Fasclean in Boston is 90 and in Austin is 48. Compare the marketing opportunity of Fasclean detergent in the two cities.

The ________ begins with sales representatives and dealers sending orders to the firms and is followed by the sales department preparing invoices, and finally generating shipping and billing documents which are then sent to various departments.

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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