Exam 3: Collecting Information and Forecasting Demand

By equipping its sales force with handheld devices with barcode readers and Internet connections to speed inventory assessment, TaylorMade allows sales executives to have significantly more time to interact with their consumers. This is an example of the use of technology in improving ________.

Forecasting is the art of anticipating what buyers are likely to do under a given set of conditions.

What is a marketing information system (MIS)? From what sources is the MIS developed?

Suppose Canon and Nikon are the only players in the digital camera industry. What can Canon do to acquire marketing intelligence?

The internal records system supplies results data, but the marketing intelligence system supplies ________ data.

An important force affecting business is the ________ movement, a movement of citizens and government organized to strengthen the rights and powers of buyers in relation to sellers.

When the government of any country restricts the sale of a particular commodity to certain groups - for example, restricting sales of alcohol to individuals of age 21 and over - the eligible consumers who have income, interest, access, and qualification constitute the ________ market.

Discuss the impact of tougher environmental regulations on businesses, citing examples whenever possible. Also, point out opportunities, if any, presented by these regulations.

One of the ways to find relevant online information on competitors' strengths and weaknesses might be to frequent distributor or sales agent feedback sites.

What are the two basic advantages that a company's marketers have in identifying significant changes in the market?

The sales forecasting method of ________ builds sets of equations that describe a system and statistically derives the different parameters that make up the equations statistically.

Mandatory recycling laws have boosted the recycling industry and launched dozens of new companies making new products from recycled materials. Which of the following most closely resembles this situation?

The traditional household consists of ________.

Which of the following organizations is likely to use the multiple-factor index method to estimate the market potential?

The ________ market is the set of consumers with an adequate interest, income, and access to a particular offer.

What does total market potential mean? How can it be estimated?

A ________ is the company's estimated share of market demand at alternative levels of company marketing effort in a given time period.

The base sales of an organization that takes place even without any demand-stimulating expenditures is called ________.

Why is it necessary for firms to execute the steps of the order-to-payment cycle quickly and accurately?

People vary in their views of society and their consumption patterns often reflect their social attitudes. ________ usually live more frugally, drive smaller cars, and wear simpler clothing.