Question 1

Which of the following statements is true?

Accepted Answer

A) The budget is the dollar manifestation of the firm's strategic plans. 
B) The budget is a management tool. 
C) The budget is a plan. 
D) All of these. 
E) None of these. 
A) The budget is the dollar manifestation of the firm's strategic plans. 
B) The budget is a management tool. 
C) The budget is a plan. 
D) All of these. 
E) None of these.

Question 2

The determination of sales forecasts is an iterative process.

Accepted Answer

A) True 
 B)False

Question 3

For sales forecasting,the sales force composite method has the merit of:

Accepted Answer

A) Being useful in forecasting sales of convenience goods. 
B) Using qualified people to do the forecasting job. 
C) Placing responsibility on those who will have to meet the target. 
D) Not taking sales representatives' time. 
E) Being limited to the consumer market. 
A) Being useful in forecasting sales of convenience goods. 
B) Using qualified people to do the forecasting job. 
C) Placing responsibility on those who will have to meet the target. 
D) Not taking sales representatives' time. 
E) Being limited to the consumer market.

Question 4

Which of the following statements are false?

Accepted Answer

A) The sales potential of a company or product is typically lower than the company's sales forecast. 
B) Market potential refers to forecasts for the industry as a whole,while a sales potential refers to forecasts for a particular company or product. 
C) Sales potential can also be described as a market share. 
D) A sales potential and a market potential typically are different. 
E) None are false. 
A) The sales potential of a company or product is typically lower than the company's sales forecast. 
B) Market potential refers to forecasts for the industry as a whole,while a sales potential refers to forecasts for a particular company or product. 
C) Sales potential can also be described as a market share. 
D) A sales potential and a market potential typically are different. 
E) None are false.

Question 5

The share of total lawnmower sales which Sears,Roebuck should get next year in the South Atlantic census region is that company's ______ for the product.

Accepted Answer

A) Market potential. 
B) Sales budget. 
C) Sales potential. 
D) Market factor. 
E) Sales quota. 
A) Market potential. 
B) Sales budget. 
C) Sales potential. 
D) Market factor. 
E) Sales quota.

Question 6

As a guiding principle in demand forecasting,management should:

Accepted Answer

A) Use all available methods. 
B) Avoid using executive opinion. 
C) Use as many market factors as possible. 
D) Prepare a separate forecast for each product sold by the company. 
E) Do None of these. 
A) Use all available methods. 
B) Avoid using executive opinion. 
C) Use as many market factors as possible. 
D) Prepare a separate forecast for each product sold by the company. 
E) Do None of these.

Question 7

A company's ______ is the share of the market potential that this firm can expect to achieve.(We assume that the product market and time period have been stated. )

Accepted Answer

A) Sales forecast. 
B) Sales quota. 
C) Sales potential. 
D) Marketing goal. 
E) Market index. 
A) Sales forecast. 
B) Sales quota. 
C) Sales potential. 
D) Marketing goal. 
E) Market index.

Question 8

A sound principle to follow in demand forecasting is to:

Accepted Answer

A) Try to use more than one forecasting technique in order to check one against the other. 
B) Develop minimum and maximum estimates to get a range of possible market variation. 
C) Only use methods which can be statistically validated. 
D) All of these are correct. 
E) Only two of A-B-C are correct. 
A) Try to use more than one forecasting technique in order to check one against the other. 
B) Develop minimum and maximum estimates to get a range of possible market variation. 
C) Only use methods which can be statistically validated. 
D) All of these are correct. 
E) Only two of A-B-C are correct.

Question 9

"Sales of lite beer are forecasted to $150 million in 2007 in the United States," reported sales manager,Christi Feldman,to her boss.This statement is a:

Accepted Answer

A) Forecast of sales. 
B) Forecast of market potential. 
C) Forecast of sales potential. 
D) Forecast of territory potential. 
E) Forecast of market share. 
A) Forecast of sales. 
B) Forecast of market potential. 
C) Forecast of sales potential. 
D) Forecast of territory potential. 
E) Forecast of market share.

Question 10

Which of the following forecasting methods is the most widely used?

Accepted Answer

A) Survey methods 
B) Mathematical models 
C) Test markets 
D) Operational methods 
E) None of these 
A) Survey methods 
B) Mathematical models 
C) Test markets 
D) Operational methods 
E) None of these

Question 11

A company's sales forecast is likely to be less than its sales potential when:

Accepted Answer

A) Plant capacity is too small to produce as much as the potential. 
B) The firm's distribution system is limited so the company cannot reach all its potential market. 
C) Management is anxious to sell all the market will absorb. 
D) Any or All of these occur. 
E) Either A or B may be correct. 
A) Plant capacity is too small to produce as much as the potential. 
B) The firm's distribution system is limited so the company cannot reach all its potential market. 
C) Management is anxious to sell all the market will absorb. 
D) Any or All of these occur. 
E) Either A or B may be correct.

Question 12

NAICS is a system that forecasts sales for multinational companies.

Accepted Answer

A) True 
 B)False

Question 13

Questionnaire surveys are a good means of forecasting sales.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following statement is correct?

Accepted Answer

A) Errors in the sales budget only affect the revenue side of the business. 
B) Errors in the sales budget affect both the revenue and expense sides of the firm. 
C) By definition there can be no error in the sales budget. 
D) All of these. 
E) None of these. 
A) Errors in the sales budget only affect the revenue side of the business. 
B) Errors in the sales budget affect both the revenue and expense sides of the firm. 
C) By definition there can be no error in the sales budget. 
D) All of these. 
E) None of these.

Question 15

Scanner technology has:

Accepted Answer

A) Sales forecast are no longer needed because of scanner technology. 
B) Scanner technology has not improved sales forecasts. 
C) Manufacturers usually own the scanner technology that retailers use. 
D) Scanner technology has enabled retailers to provide their suppliers with useful sales data. 
E) None of these is true. 
A) Sales forecast are no longer needed because of scanner technology. 
B) Scanner technology has not improved sales forecasts. 
C) Manufacturers usually own the scanner technology that retailers use. 
D) Scanner technology has enabled retailers to provide their suppliers with useful sales data. 
E) None of these is true.

Question 16

Frank May,Vice President of Sales of Zapper Exterminators,is unhappy with the recent executive opinion forecasting session held in the company's headquarters.Frank's unhappiness is most likely due to:

Accepted Answer

A) The fact that Bob Fess,Vice President of Finance,dominated the discussion of forecasting sales of Zapper's new service. 
B) Missing historical data which reduced the number of observations used in the forecast. 
C) The inability of sales managers to motivate their salespeople to provide accurate estimates of sales in the forecast period. 
D) The inability of the managers to correctly apply regression analysis to forecast sales. 
A) The fact that Bob Fess,Vice President of Finance,dominated the discussion of forecasting sales of Zapper's new service. 
B) Missing historical data which reduced the number of observations used in the forecast. 
C) The inability of sales managers to motivate their salespeople to provide accurate estimates of sales in the forecast period. 
D) The inability of the managers to correctly apply regression analysis to forecast sales.

Question 17

Forecasting sales is an iterative process involving the sales forecast and:

Accepted Answer

A) Marketing expenditures. 
B) Market potential. 
C) Production expenditures. 
D) Accounting. 
E) Sales potential. 
A) Marketing expenditures. 
B) Market potential. 
C) Production expenditures. 
D) Accounting. 
E) Sales potential.

Question 18

A budget is usually based upon a sales forecast.

Accepted Answer

A) True 
 B)False

Question 19

Budgets require considerable executive time.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following statements is true?

Accepted Answer

A) The sales and selling expense budgets communicate to the sales force what is expected of them. 
B) A branch sales manager should always be rewarded for not spending all of the unit's expenses budgets. 
C) A branch sales manager has little input into most budget making processes. 
D) All of these. 
E) None of these. 
A) The sales and selling expense budgets communicate to the sales force what is expected of them. 
B) A branch sales manager should always be rewarded for not spending all of the unit's expenses budgets. 
C) A branch sales manager has little input into most budget making processes. 
D) All of these. 
E) None of these.

Which of the following statements is true?

The determination of sales forecasts is an iterative process.

For sales forecasting,the sales force composite method has the merit of:

Which of the following statements are false?

The share of total lawnmower sales which Sears,Roebuck should get next year in the South Atlantic census region is that company's ______ for the product.

As a guiding principle in demand forecasting,management should:

A company's ______ is the share of the market potential that this firm can expect to achieve.(We assume that the product market and time period have been stated. )

A sound principle to follow in demand forecasting is to:

"Sales of lite beer are forecasted to $150 million in 2007 in the United States," reported sales manager,Christi Feldman,to her boss.This statement is a:

Which of the following forecasting methods is the most widely used?

A company's sales forecast is likely to be less than its sales potential when:

NAICS is a system that forecasts sales for multinational companies.

Questionnaire surveys are a good means of forecasting sales.

Which of the following statement is correct?

Scanner technology has:

Frank May,Vice President of Sales of Zapper Exterminators,is unhappy with the recent executive opinion forecasting session held in the company's headquarters.Frank's unhappiness is most likely due to:

Forecasting sales is an iterative process involving the sales forecast and:

A budget is usually based upon a sales forecast.

Budgets require considerable executive time.

Which of the following statements is true?

The Field of Sales Force Management

Strategic Sales Force Management

Personal Selling Process

Sales Force Organization

Profiling and Recruiting Salespeople

Selecting and Hiring Applicants

Developing, Delivering, and Reinforcing a Sales Training Program

Motivating a Sales Force

Sales Force Compensation

Sales Force Quotas Expenses

Leadership of a Sales Force

Sales Territories

Analysis of Sales Volume

Marketing Cost and Profitability Analysis

Evaluating a Salespersons Performance

Ethical and Legal Responsibilities of Sales Managers

Filters

Exam 12: Sales Forecasting and Developing Budgets

Which of the following statements is true?

The determination of sales forecasts is an iterative process.

For sales forecasting,the sales force composite method has the merit of:

Which of the following statements are false?

The share of total lawnmower sales which Sears,Roebuck should get next year in the South Atlantic census region is that company's ______ for the product.

As a guiding principle in demand forecasting,management should:

A company's ______ is the share of the market potential that this firm can expect to achieve.(We assume that the product market and time period have been stated. )

A sound principle to follow in demand forecasting is to:

"Sales of lite beer are forecasted to $150 million in 2007 in the United States," reported sales manager,Christi Feldman,to her boss.This statement is a:

Which of the following forecasting methods is the most widely used?

A company's sales forecast is likely to be less than its sales potential when:

NAICS is a system that forecasts sales for multinational companies.

Questionnaire surveys are a good means of forecasting sales.

Which of the following statement is correct?

Scanner technology has:

Frank May,Vice President of Sales of Zapper Exterminators,is unhappy with the recent executive opinion forecasting session held in the company's headquarters.Frank's unhappiness is most likely due to:

Forecasting sales is an iterative process involving the sales forecast and:

A budget is usually based upon a sales forecast.

Budgets require considerable executive time.

Which of the following statements is true?

The Field of Sales Force Management

Strategic Sales Force Management

Personal Selling Process

Sales Force Organization

Profiling and Recruiting Salespeople

Selecting and Hiring Applicants

Developing, Delivering, and Reinforcing a Sales Training Program

Motivating a Sales Force

Sales Force Compensation

Sales Force Quotas Expenses

Leadership of a Sales Force

Sales Territories

Analysis of Sales Volume

Marketing Cost and Profitability Analysis

Evaluating a Salespersons Performance

Ethical and Legal Responsibilities of Sales Managers

Filters