Question 1

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 2

With an increase in marketing expenditure, market demand ________.

Accepted Answer

A)  continues to rise at an increasing rate 
B)  initially increases and then declines 
C)  increases first at an increasing rate, then at a decreasing rate 
D)  decreases first and then spikes 
E)  continues to increase at a decreasing rate 
A)  continues to rise at an increasing rate 
B)  initially increases and then declines 
C)  increases first at an increasing rate, then at a decreasing rate 
D)  decreases first and then spikes 
E)  continues to increase at a decreasing rate

Question 3

Jeanine would like to own a Mercedes but is unable to afford one at this time. Jeanine is part of the ________ market for this product.

Accepted Answer

A)  potential 
B)  available 
C)  target 
D)  projected 
E)  penetrated 
A)  potential 
B)  available 
C)  target 
D)  projected 
E)  penetrated

Question 4

Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a "green marketing" program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program's chances of being successful?

Accepted Answer

A)  demonstrate that the products will benefit both customers and the society in the long term 
B)  emphasize benefits to the consumer rather than environmental benefits 
C)  focus on the efforts and costs incurred by the company to bring these "green" products to consumers 
D)  engage in "greenwashing" to highlight the environmental benefits of the product 
E)  explain the rules and regulations laid out by governmental agencies to protect the environment 
A)  demonstrate that the products will benefit both customers and the society in the long term 
B)  emphasize benefits to the consumer rather than environmental benefits 
C)  focus on the efforts and costs incurred by the company to bring these "green" products to consumers 
D)  engage in "greenwashing" to highlight the environmental benefits of the product 
E)  explain the rules and regulations laid out by governmental agencies to protect the environment

Question 5

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

Question 6

In order to estimate future demand, companies commonly prepare a company sales forecast first, followed by an industry forecast, and finally a macroeconomic forecast.

Accepted Answer

A) True 
 B)False

Question 7

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.

Accepted Answer

A)  human rights 
B)  consumerist 
C)  environmental 
D)  self-determination 
E)  materialistic 
A)  human rights 
B)  consumerist 
C)  environmental 
D)  self-determination 
E)  materialistic

Question 8

Companies with superior information enjoy a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 9

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 10

The competitive intelligence function works best when it is closely coordinated with the decision-making process.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A)  data warehousing system 
B)  viral marketing campaign 
C)  product management system 
D)  marketing intelligence system 
E)  sales information system 
A)  data warehousing system 
B)  viral marketing campaign 
C)  product management system 
D)  marketing intelligence system 
E)  sales information system

Question 12

List three examples of how companies are using Big Data.

Accepted Answer

1. Targeted advertising: Companies are u

Question 13

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.

Accepted Answer

A)  company demand 
B)  market demand 
C)  company sales potential 
D)  sales quota 
E)  total market potential 
A)  company demand 
B)  market demand 
C)  company sales potential 
D)  sales quota 
E)  total market potential

Question 14

In the United States, people born between the years ________ are called baby boomers.

Accepted Answer

A)  1978 and 2002 
B)  1946 and 1964 
C)  1925 and 1945 
D)  1965 and 1985 
E)  1920 and 1940 
A)  1978 and 2002 
B)  1946 and 1964 
C)  1925 and 1945 
D)  1965 and 1985 
E)  1920 and 1940

Question 15

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 16

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.

Accepted Answer

A) True 
 B)False

Question 17

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 18

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

Accepted Answer

A)  fad 
B)  fashion 
C)  trend 
D)  megatrend 
E)  style 
A)  fad 
B)  fashion 
C)  trend 
D)  megatrend 
E)  style

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

The heart of the internal records system is the ________ because customers favor firms that can promise timely delivery.

Accepted Answer

A)  sales information system 
B)  data mining system 
C)  order-to-payment cycle 
D)  information needs probe 
E)  data warehouse 
A)  sales information system 
B)  data mining system 
C)  order-to-payment cycle 
D)  information needs probe 
E)  data warehouse

Exam 3: Collecting Information and Forecasting Demand

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

With an increase in marketing expenditure, market demand ________.

Jeanine would like to own a Mercedes but is unable to afford one at this time. Jeanine is part of the ________ market for this product.

Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a "green marketing" program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program's chances of being successful?

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.

In order to estimate future demand, companies commonly prepare a company sales forecast first, followed by an industry forecast, and finally a macroeconomic forecast.

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.

Companies with superior information enjoy a competitive advantage.

A growing population does not mean growing markets unless ________.

The competitive intelligence function works best when it is closely coordinated with the decision-making process.

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

List three examples of how companies are using Big Data.

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.

In the United States, people born between the years ________ are called baby boomers.

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.

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.

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

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

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

The heart of the internal records system is the ________ because customers favor firms that can promise timely delivery.

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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