Question 1

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

Accepted Answer

A marketing information system (MIS) consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. A marketing information system is developed from internal company records, marketing intelligence activities, and marketing research.

Question 2

________ research is designed to capture cause-and-effect relationships by eliminating competing explanations of the observed findings.

Accepted Answer

A)  Experimental 
B)  Behavioral 
C)  Observational 
D)  Focus group 
E)  Descriptive 
A)  Experimental 
B)  Behavioral 
C)  Observational 
D)  Focus group 
E)  Descriptive A

Question 3

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

Accepted Answer

Environmental regulations adversely affect certain industries. They increase the cost of production for a range of industries. For instance, steel manufacturing units and firms which generate electricity are required to install pollution control equipment. Automobile companies are required to develop and use cleaner technology in their vehicles. However, businesses can also achieve significant savings in their energy and gas bills by moving to environmentally friendly ways to heat or cool their offices and run their manufacturing facilities. A shift to paper-less communication can cut costs and pollution. Plus, new business opportunities are opening up in the "green" sectors as is evident in the companies that manufacture and sell emission-control equipment and sell services to help companies adopt environmentally-friendly practices.

Question 4

Which of the following is True about the technology trends that marketers should monitor?

Accepted Answer

A)  A growing portion of U.S. R&D expenditures are going toward the research side as opposed to the development side. 
B)  Today, the time between idea and implementation is expanding. 
C)  China leads the world in spending on research and development. 
D)  The pace of change is accelerating today. 
E)  The government has decreased regulation of technological change. 
A)  A growing portion of U.S. R&D expenditures are going toward the research side as opposed to the development side. 
B)  Today, the time between idea and implementation is expanding. 
C)  China leads the world in spending on research and development. 
D)  The pace of change is accelerating today. 
E)  The government has decreased regulation of technological change.

Question 5

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

Accepted Answer

Since marketing intermediaries are often

Question 6

Briefly describe the methods of forecasting future demand.

Accepted Answer

The methods are:
1. Survey of buyers' in

Question 7

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

Question 8

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 an

Question 9

List three examples of how companies are using Big Data.

Accepted Answer

Student answers will vary. Examples from

Question 10

What are the six steps involved in the marketing research process?

Accepted Answer

The six steps are:
1. define t

Question 11

Experiments call for selecting matched groups of subjects, subjecting them to different treatments, controlling extraneous variables, and checking whether observed response differences are statistically significant.

Accepted Answer

A) True 
 B)False

Question 12

Primary data can be collected in several ways. Installing cameras in a retail store to unobtrusively record shopping behavior is an example of ________ research.

Accepted Answer

A)  focus group 
B)  survey 
C)  observational 
D)  behavioral 
E)  experimental 
A)  focus group 
B)  survey 
C)  observational 
D)  behavioral 
E)  experimental

Question 13

As the marketing manager of Cominform Pvt. Ltd., a manufacturer of health drinks, you have selected 10 individuals who match the profile of your target customer, to participate in a discussion on changing lifestyle trends related to health. You have also hired a skilled moderator to facilitate the discussion and ensure that everyone participates and stays focused on the topic. The moderator provides questions and probes based on the "script" prepared by you. The discussions are also recorded for further analysis. Which of the following methods of acquiring primary data is being used in this case?

Accepted Answer

A)  observational research 
B)  surveys 
C)  behavioral data 
D)  experiments 
E)  focus groups 
A)  observational research 
B)  surveys 
C)  behavioral data 
D)  experiments 
E)  focus groups

Question 14

When American Airlines decided to review new ideas aimed at first-class passengers on very long flights, like an ultra high-speed Wi-Fi service and 124 channels of high-definition satellite cable TV, their first step in the marketing research process was to ________.

Accepted Answer

A)  develop the research plan 
B)  define the problem and research objectives 
C)  collect the information 
D)  analyze the information 
E)  make the decision 
A)  develop the research plan 
B)  define the problem and research objectives 
C)  collect the information 
D)  analyze the information 
E)  make the decision

Question 15

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 16

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.

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 17

________ beliefs and values are passed from parents to children and reinforced by social institutions-schools, churches, businesses, and governments; they are very difficult to change.

Accepted Answer

A)  Transient 
B)  Secondary 
C)  Protected 
D)  Core 
E)  Variable 
A)  Transient 
B)  Secondary 
C)  Protected 
D)  Core 
E)  Variable

Question 18

When ConAgra learned that stores were selling more time-saving meals and snacks when school started, it launched its "Seasons of Mom" campaign to help grocers adjust to seasonal shifts in household needs. Which of the eight possible actions to improve the quantity and quality of its marketing intelligence yielded this insight?

Accepted Answer

A)  Train and motivate the sales force to spot and report new developments. 
B)  Motivate distributors, retailers, and other intermediaries to pass along important intelligence. 
C)  Hire external experts to collect intelligence. 
D)  Network internally and externally. 
E)  Set up a customer advisory panel. 
A)  Train and motivate the sales force to spot and report new developments. 
B)  Motivate distributors, retailers, and other intermediaries to pass along important intelligence. 
C)  Hire external experts to collect intelligence. 
D)  Network internally and externally. 
E)  Set up a customer advisory panel.

Question 19

Because customers are not really concerned with timely delivery, customers are unlikely to differentiate between firms based on their order-to-payment cycles.

Accepted Answer

A) True 
 B)False

Question 20

The response rate is usually very high for mail questionnaires.

Accepted Answer

A) True 
 B)False

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

________ research is designed to capture cause-and-effect relationships by eliminating competing explanations of the observed findings.

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

Which of the following is True about the technology trends that marketers should monitor?

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

Briefly describe the methods of forecasting future demand.

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

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

List three examples of how companies are using Big Data.

What are the six steps involved in the marketing research process?

Experiments call for selecting matched groups of subjects, subjecting them to different treatments, controlling extraneous variables, and checking whether observed response differences are statistically significant.

Primary data can be collected in several ways. Installing cameras in a retail store to unobtrusively record shopping behavior is an example of ________ research.

When American Airlines decided to review new ideas aimed at first-class passengers on very long flights, like an ultra high-speed Wi-Fi service and 124 channels of high-definition satellite cable TV, their first step in the marketing research process was to ________.

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

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.

________ beliefs and values are passed from parents to children and reinforced by social institutions-schools, churches, businesses, and governments; they are very difficult to change.

Because customers are not really concerned with timely delivery, customers are unlikely to differentiate between firms based on their order-to-payment cycles.

The response rate is usually very high for mail questionnaires.

Defining Marketing for the New Realities

Developing and Implementing Marketing Strategies and Plans

Creating Long-Term Loyalty Relationships

Analyzing Consumer and Business Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning and Competing Effectively

Creating Brand Equity and Driving Growth

Setting Product Strategy and Introducing New Offerings

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 Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Tapping Into Global Markets

Filters

Exam 3: Capturing Marketing Insights and Forecasting Demand

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

________ research is designed to capture cause-and-effect relationships by eliminating competing explanations of the observed findings.

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

Which of the following is True about the technology trends that marketers should monitor?

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

Briefly describe the methods of forecasting future demand.

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

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

List three examples of how companies are using Big Data.

What are the six steps involved in the marketing research process?

Experiments call for selecting matched groups of subjects, subjecting them to different treatments, controlling extraneous variables, and checking whether observed response differences are statistically significant.

Primary data can be collected in several ways. Installing cameras in a retail store to unobtrusively record shopping behavior is an example of ________ research.

When American Airlines decided to review new ideas aimed at first-class passengers on very long flights, like an ultra high-speed Wi-Fi service and 124 channels of high-definition satellite cable TV, their first step in the marketing research process was to ________.

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

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.

________ beliefs and values are passed from parents to children and reinforced by social institutions-schools, churches, businesses, and governments; they are very difficult to change.

Because customers are not really concerned with timely delivery, customers are unlikely to differentiate between firms based on their order-to-payment cycles.

The response rate is usually very high for mail questionnaires.

Defining Marketing for the New Realities

Developing and Implementing Marketing Strategies and Plans

Creating Long-Term Loyalty Relationships

Analyzing Consumer and Business Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning and Competing Effectively

Creating Brand Equity and Driving Growth

Setting Product Strategy and Introducing New Offerings

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 Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Tapping Into Global Markets

Filters