Question 1

By equipping its sales force with handheld devices with barcode readers and Internet connections to speed inventory assessment, TaylorMade allows sales executives to have significantly more time to interact with their consumers. This is an example of the use of technology in improving ________.

Accepted Answer

A)  sales information systems 
B)  payroll systems 
C)  cookies 
D)  cohort segmentation 
E)  competitive intelligence gathering

Question 2

Forecasting is the art of anticipating what buyers are likely to do under a given set of conditions.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

The answer of What is a marketing information system (MIS)?...

Question 4

Suppose Canon and Nikon are the only players in the digital camera industry. What can Canon do to acquire marketing intelligence?

Accepted Answer

The answer of Suppose Canon and Nikon are the only...

Question 5

The internal records system supplies results data, but the marketing intelligence system supplies ________ data.

Accepted Answer

A)  internal 
B)  revenue 
C)  thematic 
D)  happenings 
E)  process

Question 6

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

Question 7

When the government of any country restricts the sale of a particular commodity to certain groups - for example, restricting sales of alcohol to individuals of age 21 and over - the eligible consumers who have income, interest, access, and qualification constitute the ________ market.

Accepted Answer

A)  accessible 
B)  target 
C)  potential 
D)  qualified potential 
E)  qualified available

Question 8

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

The answer of Discuss the impact of tougher environmental regulations...

Question 9

One of the ways to find relevant online information on competitors' strengths and weaknesses might be to frequent distributor or sales agent feedback sites.

Accepted Answer

A) True 
 B)False

Question 10

What are the two basic advantages that a company's marketers have in identifying significant changes in the market?

Accepted Answer

The answer of What are the two basic advantages that...

Question 11

The sales forecasting method of ________ builds sets of equations that describe a system and statistically derives the different parameters that make up the equations statistically.

Accepted Answer

A)  time-series analysis 
B)  statistical demand analysis 
C)  econometric analysis 
D)  cost effectiveness analysis 
E)  exponential smoothing

Question 12

Mandatory recycling laws have boosted the recycling industry and launched dozens of new companies making new products from recycled materials. Which of the following most closely resembles this situation?

Accepted Answer

A)  Government makes reforestation mandatory for lumbering firms leading to a rise in timber production. 
B)  Government restricts industries from purchasing farmland thereby increasing agricultural produce. 
C)  Government subsidizes export of beef to promote production of beef cattle. 
D)  Government pollution control norms increase the production of pollution control equipment. 
E)  Government restricts unfair trade practices to promote international trade.

Question 13

The traditional household consists of ________.

Accepted Answer

A)  a husband, wife, and children (and sometimes grandparents) 
B)  a group of related persons living together 
C)  two or more families living together 
D)  a man and a woman living together (whether married or not) 
E)  related or unrelated persons who share living arrangements

Question 14

Which of the following organizations is likely to use the multiple-factor index method to estimate the market potential?

Accepted Answer

A)  a firm that manufactures auto parts 
B)  a firm that provides facility management services to large offices 
C)  a company that provides Web site development services for small businesses 
D)  a company that manufactures diagnostic machines for hospitals 
E)  a firm that manufactures fashionable clothes for teenagers

Question 15

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

Question 16

What does total market potential mean? How can it be estimated?

Accepted Answer

The answer of What does total market potential mean? How...

Question 17

A ________ is the company's estimated share of market demand at alternative levels of company marketing effort in a given time period.

Accepted Answer

A)  sales budget 
B)  market demand 
C)  company demand 
D)  company sales potential 
E)  market potential

Question 18

The base sales of an organization that takes place even without any demand-stimulating expenditures is called ________.

Accepted Answer

A)  primary demand 
B)  market potential 
C)  market minimum 
D)  optimum demand 
E)  market demand

Question 19

Why is it necessary for firms to execute the steps of the order-to-payment cycle quickly and accurately?

Accepted Answer

The answer of Why is it necessary for firms to...

Question 20

People vary in their views of society and their consumption patterns often reflect their social attitudes. ________ usually live more frugally, drive smaller cars, and wear simpler clothing.

Accepted Answer

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

Exam 3: Collecting Information and Forecasting Demand