Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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 3

Suppose Ornate Inc. and Oracle are the only players in digital camera industry. What can Ornate do to acquire marketing intelligence?

Accepted Answer

Student answers may vary. Ornate Inc. ca

Question 4

________ is the sales limit approached by company demand as company marketing effort increases relative to that of competitors.

Accepted Answer

A)  Sales budget 
B)  Market demand 
C)  Company demand 
D)  Company sales potential 
E)  Market potential 
A)  Sales budget 
B)  Market demand 
C)  Company demand 
D)  Company sales potential 
E)  Market potential

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

During recession, the market demand curve which is a function of marketing expenditure ________.

Accepted Answer

A)  shifts upward 
B)  becomes vertical 
C)  remains unaffected 
D)  shifts downward 
E)  slopes downward 
A)  shifts upward 
B)  becomes vertical 
C)  remains unaffected 
D)  shifts downward 
E)  slopes downward

Question 7

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 8

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 9

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 10

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

Question 11

Skyline Motors, an automobile manufacturing firm, is planning to introduce its new range of sports cars. It decides to offer a zero percent financing to the buyers. Skyline can save its mailing expenses by sending the offer only to its high-scoring customers instead of sending it to every customer in its database. Mention the factors according to which it may rank the customers in its database.

Accepted Answer

A company may rank its custome

Question 12

List some of the ways in which data mining assists the decision makers of the company.

Accepted Answer

Data mining enables the analysts to garn

Question 13

By 2010, projections indicate that the largest category of households will be composed of ________.

Accepted Answer

A)  childless married couples and empty nesters 
B)  single-parent families 
C)  single live-alones 
D)  singles living with nonrelatives 
E)  married couples with children 
A)  childless married couples and empty nesters 
B)  single-parent families 
C)  single live-alones 
D)  singles living with nonrelatives 
E)  married couples with children

Question 14

Firms find "reverse innovation" advantage by ________.

Accepted Answer

A)  introducing a commodity in a developed country and then distributing it globally 
B)  introducing a commodity in a developing country and then distributing it in other developing countries 
C)  introducing a commodity in a developing country and then distributing it globally 
D)  introducing a commodity in a developed country and then distributing it in developing countries 
E)  introducing a commodity in a developed country and then distributing it in other developed countries 
A)  introducing a commodity in a developed country and then distributing it globally 
B)  introducing a commodity in a developing country and then distributing it in other developing countries 
C)  introducing a commodity in a developing country and then distributing it globally 
D)  introducing a commodity in a developed country and then distributing it in developing countries 
E)  introducing a commodity in a developed country and then distributing it in other developed countries

Question 15

People vary in their views of society and their consumption patterns often reflect their social attitudes. ________ are a major market for movies, music, surfing, and camping.

Accepted Answer

A)  Makers 
B)  Preservers 
C)  Escapers 
D)  Changers 
E)  Developers 
A)  Makers 
B)  Preservers 
C)  Escapers 
D)  Changers 
E)  Developers

Question 16

The demand estimates of an organization comprise of five space levels. They are world, country, region, territory, and ________.

Accepted Answer

A)  zone 
B)  organization 
C)  customer 
D)  product 
E)  input 
A)  zone 
B)  organization 
C)  customer 
D)  product 
E)  input

Question 17

In the U.S., people born between the years ________ are called 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 18

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.

Accepted Answer

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

Question 19

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

Accepted Answer

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

Question 20

Why do the companies need to search for practical means to harness renewable sources of energy like wind and water?

Accepted Answer

Prolonged exploitation of the convention

Exam 3: Collecting Information and Forecasting Demand

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

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.

Suppose Ornate Inc. and Oracle are the only players in digital camera industry. What can Ornate do to acquire marketing intelligence?

________ is the sales limit approached by company demand as company marketing effort increases relative to that of competitors.

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

During recession, the market demand curve which is a function of marketing expenditure ________.

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

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?

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

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.

List some of the ways in which data mining assists the decision makers of the company.

By 2010, projections indicate that the largest category of households will be composed of ________.

Firms find "reverse innovation" advantage by ________.

People vary in their views of society and their consumption patterns often reflect their social attitudes. ________ are a major market for movies, music, surfing, and camping.

The demand estimates of an organization comprise of five space levels. They are world, country, region, territory, and ________.

In the U.S., people born between the years ________ are called boomers.

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.

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

Why do the companies need to search for practical means to harness renewable sources of energy like wind and water?

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

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 Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization for the Long Run

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