Question 1

The executive judgment method of sales forecasting is very accurate in predicting future sales.

Accepted Answer

A) True 
 B)False

Question 2

A forecasting method that predicts sales based on relationships between past sales and other variables is called

Accepted Answer

A) regression analysis. 
B) customer forecasting surveys. 
C) the Delphi technique. 
D) random factor analysis. 
E) time series analysis. 
A) regression analysis. 
B) customer forecasting surveys. 
C) the Delphi technique. 
D) random factor analysis. 
E) time series analysis.

Question 3

Starbucks will spend $2 million marketing its newest latte drink. It expects to sell 15 million of these lattes over the next year. These 15 million lattes are a _____________ for Starbucks.

Accepted Answer

A) sales forecast 
B) regression analysis 
C) breakdown approach 
D) cycle analysis 
E) buildup approach 
A) sales forecast 
B) regression analysis 
C) breakdown approach 
D) cycle analysis 
E) buildup approach

Question 4

Discuss the advantages and disadvantages of using executive judgment in forecasting company sales.

Accepted Answer

Executive judgment is the intuition of o

Question 5

Eighteen-year-old students do not form a market for alcoholic beverages because they

Accepted Answer

A) lack sufficient buying power to form a market. 
B) lack the authority to purchase this type of product. 
C) do not want to purchase this type of product. 
D) do not have sufficient experience with this type of product. 
E) lack the money to purchase this type of product. 
A) lack sufficient buying power to form a market. 
B) lack the authority to purchase this type of product. 
C) do not want to purchase this type of product. 
D) do not have sufficient experience with this type of product. 
E) lack the money to purchase this type of product.

Question 6

Axe has been a successful marketer of men's body spray, deodorant, and antiperspirants and is a division of Unilever. Axe supports a variety of fragrances and releases new products, which are supported by marketing efforts including racy advertising spots and a company-owned YouTube channel. The individuals who purchase Axe deodorant or body spray for their own personal use represent Axe's _____ market, while retailers such as Target, Kmart, Walmart, and grocery stores such as Kroger represent the company's __________ market.

Accepted Answer

A) primary; secondary 
B) consumer; business 
C) primary; reseller 
D) reseller; derived 
A) primary; secondary 
B) consumer; business 
C) primary; reseller 
D) reseller; derived

Question 7

When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n)

Accepted Answer

A) expert forecasting survey. 
B) Delphi technique. 
C) random factor analysis. 
D) external judgment survey. 
E) market test. 
A) expert forecasting survey. 
B) Delphi technique. 
C) random factor analysis. 
D) external judgment survey. 
E) market test.

Question 8

Sodexo distributes food to restaurants, health-care facilities, hotels, and schools, among other businesses. What type of targeting strategy would it most likely adopt?

Accepted Answer

A) Differentiated 
B) Concentrated 
C) Multifaceted 
D) Undifferentiated 
E) Cluster 
A) Differentiated 
B) Concentrated 
C) Multifaceted 
D) Undifferentiated 
E) Cluster

Question 9

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n)

Accepted Answer

A) business market. 
B) market. 
C) undifferentiated market. 
D) segmented market. 
E) market variable. 
A) business market. 
B) market. 
C) undifferentiated market. 
D) segmented market. 
E) market variable.

Question 10

The forecasting techniques that assume past sales patterns will continue into the future are all variations of

Accepted Answer

A) regression analysis. 
B) random factor analysis. 
C) seasonal analysis. 
D) time series analysis. 
E) past sales forecasting surveys. 
A) regression analysis. 
B) random factor analysis. 
C) seasonal analysis. 
D) time series analysis. 
E) past sales forecasting surveys.

Question 11

The most important reason that a firm might use a sales force forecasting survey to determine its sales forecast is

Accepted Answer

A) salespeople are generally optimistic about the future and will provide excellent forecast targets. 
B) most salespeople tend to have a pessimistic outlook, which is more likely to result in an achievable sales forecast. 
C) this tends to be the fastest way to determine a good sales forecast for the upcoming period. 
D) the averaging and other statistical techniques applied to these forecasts result in extremely accurate numbers. 
E) the sales staff is closer to the actual customers on a regular basis than anyone else in the organization. 
A) salespeople are generally optimistic about the future and will provide excellent forecast targets. 
B) most salespeople tend to have a pessimistic outlook, which is more likely to result in an achievable sales forecast. 
C) this tends to be the fastest way to determine a good sales forecast for the upcoming period. 
D) the averaging and other statistical techniques applied to these forecasts result in extremely accurate numbers. 
E) the sales staff is closer to the actual customers on a regular basis than anyone else in the organization.

Question 12

Through marketing newsprint to newspaper publishers and glass manufacturers that use it in packing, International Paper segments its market based on

Accepted Answer

A) customer size. 
B) psychographics. 
C) demographics. 
D) use of product. 
E) geographic location. 
A) customer size. 
B) psychographics. 
C) demographics. 
D) use of product. 
E) geographic location.

Question 13

In developing a company sales forecast, the forecasting methods are limited to surveys and correlation methods.

Accepted Answer

A) True 
 B)False

Question 14

General Electric calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's

Accepted Answer

A) sales potential. 
B) market potential. 
C) target growth rate. 
D) sales forecast. 
E) sales objective. 
A) sales potential. 
B) market potential. 
C) target growth rate. 
D) sales forecast. 
E) sales objective.

Question 15

A marketer that targets customers based on marital status and the presence and age of children is using

Accepted Answer

A) behavioristic segmentation. 
B) lifestyle variables. 
C) psychographic variables. 
D) family life cycle. 
E) phase of life segmentation. 
A) behavioristic segmentation. 
B) lifestyle variables. 
C) psychographic variables. 
D) family life cycle. 
E) phase of life segmentation.

Question 16

Demographic characteristics are commonly used to segment a market because they are closely related to consumers' product needs and purchasing behavior.

Accepted Answer

A) True 
 B)False

Question 17

Relying on executive judgment for forecasting may be adequate when

Accepted Answer

A) levels of marketing efforts put forth by competitors vary considerably. 
B) recent events give the executive specific impressions of product demand. 
C) product demand is erratic. 
D) the executive conducts surveys. 
E) the executive has considerable experience and product demand is relatively stable. 
A) levels of marketing efforts put forth by competitors vary considerably. 
B) recent events give the executive specific impressions of product demand. 
C) product demand is erratic. 
D) the executive conducts surveys. 
E) the executive has considerable experience and product demand is relatively stable.

Question 18

The sales prediction technique based on the correlation between sales and other factors such as population density, per capita income, or family size is

Accepted Answer

A) executive judgment. 
B) time series analysis. 
C) regression analysis. 
D) a market test. 
E) an expert survey. 
A) executive judgment. 
B) time series analysis. 
C) regression analysis. 
D) a market test. 
E) an expert survey.

Question 19

The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is

Accepted Answer

A) motive. 
B) social class. 
C) personality. 
D) stage in family life cycle. 
E) lifestyle. 
A) motive. 
B) social class. 
C) personality. 
D) stage in family life cycle. 
E) lifestyle.

Question 20

Supplements Co segments its diet pills based on those who have morning cravings, those who tend to overeat near the end of the day, those who need all day long appetite suppression, and those who want appetite control and more energy. This is an example of market segmentation based on variables of

Accepted Answer

A) demographics. 
B) lifestyles. 
C) psychographics. 
D) behavior. 
E) personality characteristics. 
A) demographics. 
B) lifestyles. 
C) psychographics. 
D) behavior. 
E) personality characteristics.

The executive judgment method of sales forecasting is very accurate in predicting future sales.

A forecasting method that predicts sales based on relationships between past sales and other variables is called

Starbucks will spend $2 million marketing its newest latte drink. It expects to sell 15 million of these lattes over the next year. These 15 million lattes are a _____________ for Starbucks.

Discuss the advantages and disadvantages of using executive judgment in forecasting company sales.

Eighteen-year-old students do not form a market for alcoholic beverages because they

When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n)

Sodexo distributes food to restaurants, health-care facilities, hotels, and schools, among other businesses. What type of targeting strategy would it most likely adopt?

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n)

The forecasting techniques that assume past sales patterns will continue into the future are all variations of

The most important reason that a firm might use a sales force forecasting survey to determine its sales forecast is

Through marketing newsprint to newspaper publishers and glass manufacturers that use it in packing, International Paper segments its market based on

In developing a company sales forecast, the forecasting methods are limited to surveys and correlation methods.

General Electric calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's

A marketer that targets customers based on marital status and the presence and age of children is using

Demographic characteristics are commonly used to segment a market because they are closely related to consumers' product needs and purchasing behavior.

Relying on executive judgment for forecasting may be adequate when

The sales prediction technique based on the correlation between sales and other factors such as population density, per capita income, or family size is

The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is

Supplements Co segments its diet pills based on those who have morning cravings, those who tend to overeat near the end of the day, those who need all day long appetite suppression, and those who want appetite control and more energy. This is an example of market segmentation based on variables of

Customer-Driven Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment, Social Responsibility, and Ethics

Marketing Research and Information Systems

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product, Branding, and Packaging Concepts

Developing and Managing Goods and Services

Pricing Concepts and Management

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Filters

Exam 5: Target Market Segmentation and Evaluation

The executive judgment method of sales forecasting is very accurate in predicting future sales.

A forecasting method that predicts sales based on relationships between past sales and other variables is called

Starbucks will spend $2 million marketing its newest latte drink. It expects to sell 15 million of these lattes over the next year. These 15 million lattes are a _____________ for Starbucks.

Discuss the advantages and disadvantages of using executive judgment in forecasting company sales.

Eighteen-year-old students do not form a market for alcoholic beverages because they

When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n)

Sodexo distributes food to restaurants, health-care facilities, hotels, and schools, among other businesses. What type of targeting strategy would it most likely adopt?

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n)

The forecasting techniques that assume past sales patterns will continue into the future are all variations of

The most important reason that a firm might use a sales force forecasting survey to determine its sales forecast is

Through marketing newsprint to newspaper publishers and glass manufacturers that use it in packing, International Paper segments its market based on

In developing a company sales forecast, the forecasting methods are limited to surveys and correlation methods.

General Electric calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's

A marketer that targets customers based on marital status and the presence and age of children is using

Demographic characteristics are commonly used to segment a market because they are closely related to consumers' product needs and purchasing behavior.

Relying on executive judgment for forecasting may be adequate when

The sales prediction technique based on the correlation between sales and other factors such as population density, per capita income, or family size is

The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is

Supplements Co segments its diet pills based on those who have morning cravings, those who tend to overeat near the end of the day, those who need all day long appetite suppression, and those who want appetite control and more energy. This is an example of market segmentation based on variables of

Customer-Driven Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment, Social Responsibility, and Ethics

Marketing Research and Information Systems

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product, Branding, and Packaging Concepts

Developing and Managing Goods and Services

Pricing Concepts and Management

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Filters