Question 1

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

Accepted Answer

The steps are:
1. a company can train and motivate the sales force to spot and report new developments
2. a company can motivate distributors, retailers, and other intermediaries to pass along important intelligence
3. a company can network externally
4. a company can set up a customer advisory panel
5. a company can take advantage of government data resources
6. a company can purchase information from outside suppliers
7. a company can use online customer feedback systems to collect competitive intelligence

Question 2

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.

Accepted Answer

A) True 
 B)False  True

Question 3

Of the following, which country received the highest score on the Greendex sustainable consumption index, which suggests they minimize their environmental impact via decisions made about transportation, household energy, resource use, and food/good consumption?

Accepted Answer

A)  China 
B)  Brazil 
C)  India 
D)  United States 
E)  France 
A)  China 
B)  Brazil 
C)  India 
D)  United States 
E)  France C

Question 4

________ measures the impact of a set of causal factors (such as income, marketing expenditures, and price) on the sales level.

Accepted Answer

A)  Time-series analysis 
B)  Statistical demand analysis 
C)  Econometric analysis 
D)  Cost effectiveness analysis 
E)  Exponential smoothing 
A)  Time-series analysis 
B)  Statistical demand analysis 
C)  Econometric analysis 
D)  Cost effectiveness analysis 
E)  Exponential smoothing

Question 5

Firms that can develop substitute materials for finite nonrenewable resources have an excellent opportunity.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

The two advantages are
1. They

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

A new market opportunity generally guarantees success, if the new product is technically feasible.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

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?

Accepted Answer

A)  training and motivating the sales force to spot and report new developments 
B)  motivating intermediaries to pass along important intelligence 
C)  networking externally 
D)  purchasing information from outside research firms and vendors 
E)  using the sales information system to get accurate sales reports 
A)  training and motivating the sales force to spot and report new developments 
B)  motivating intermediaries to pass along important intelligence 
C)  networking externally 
D)  purchasing information from outside research firms and vendors 
E)  using the sales information system to get accurate sales reports

Question 12

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.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

When its monitoring software spotted a Twitter post that went to 10,000 followers from an upset consumer who couldn't redeem a prize from a MyCoke rewards program, Coke quickly posted an apology on his Twitter profile and offered to help resolve the situation. This is an example of which of the following?

Accepted Answer

A)  mystery shopper actions 
B)  consumer panel data 
C)  purchasing outside information 
D)  acting on marketing intelligence 
E)  conducting a sentiment analysis 
A)  mystery shopper actions 
B)  consumer panel data 
C)  purchasing outside information 
D)  acting on marketing intelligence 
E)  conducting a sentiment analysis

Question 16

The penetrated market is the set of consumers who have an interest in a market offer but do not have the accessibility.

Accepted Answer

A) True 
 B)False

Question 17

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.

Accepted Answer

A)  time-series analysis 
B)  statistical demand analysis 
C)  econometric analysis 
D)  cost effectiveness analysis 
E)  exponential smoothing 
A)  time-series analysis 
B)  statistical demand analysis 
C)  econometric analysis 
D)  cost effectiveness analysis 
E)  exponential smoothing

Question 18

When a company acquires consumer-panel data from firms like A.C. Nielsen Company and Information Resources Inc., which of the following steps to improve the quality of a company marketing intelligence system is the company resorting to?

Accepted Answer

A)  training and motivating the sales force to spot and report new developments 
B)  motivating distributors, retailers, and other intermediaries to pass along important intelligence 
C)  hiring external experts to collect intelligence 
D)  using external network 
E)  purchasing information from outside research firms and vendors 
A)  training and motivating the sales force to spot and report new developments 
B)  motivating distributors, retailers, and other intermediaries to pass along important intelligence 
C)  hiring external experts to collect intelligence 
D)  using external network 
E)  purchasing information from outside research firms and vendors

Question 19

Households comprised of single, separated, widowed, and divorced individuals generally demand larger apartments and expensive appliances, furniture, and furnishings.

Accepted Answer

A) True 
 B)False

Question 20

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

Exam 3: Collecting Information and Forecasting Demand

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

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.

Of the following, which country received the highest score on the Greendex sustainable consumption index, which suggests they minimize their environmental impact via decisions made about transportation, household energy, resource use, and food/good consumption?

________ measures the impact of a set of causal factors (such as income, marketing expenditures, and price) on the sales level.

Firms that can develop substitute materials for finite nonrenewable resources have an excellent opportunity.

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

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

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

A new market opportunity generally guarantees success, if the new product is technically feasible.

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

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?

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.

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

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

The penetrated market is the set of consumers who have an interest in a market offer but do not have the accessibility.

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.

When a company acquires consumer-panel data from firms like A.C. Nielsen Company and Information Resources Inc., which of the following steps to improve the quality of a company marketing intelligence system is the company resorting to?

Households comprised of single, separated, widowed, and divorced individuals generally demand larger apartments and expensive appliances, furniture, and furnishings.

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

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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