Nova Southeastern University

MKT 5070

Chapter 3 Collecting Information and Forecasting Demand

1)As the manager of an organization that is attempting to build a Marketing Information System (MIS), you have been informed that a MIS is built upon three fundamental information sources. The sources are              , marketing intelligence activities, and marketing research.

1. 1. external records and documents
   2. databases found on the Internet
   3. consultant reports
   4. internal company records
   5. secondary data from government sources such as the Better Business Bureau

2. The heart of the internal records system is the                          .
   1. pay-roll system
   2. purchase order cycle
   3. order-to-payment cycle
   4. expense cycle
   5. human resources system

3. 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 which are then sent to various departments.
   1. payroll system
   2. market research process
   3. human resources system
   4. expense cycle
   5. order-to-payment cycle

4. By equipping its sales force with handheld devices with bar-code 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     .
   1. sales information systems
   2. payroll systems
   3. cookies
   4. cohort segmentation
   5. competitive intelligence gathering

5. Companies can practice targeted marketing by using                             –records of Web site usage stored on personal browsers.
   1. plug-ins
   2. black swans
   3. cookies
   4. trolls
   5. honey-pots  

6. The internal records system supplies results data, but the marketing intelligence system supplies      data.
   1. internal
   2. revenue
   3. thematic
   4. happenings
   5. process

7. A                         is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.
   1. data warehousing system
   2. viral marketing campaign
   3. product management system
   4. marketing intelligence system
   5. sales information system

8. A company can take several steps to improve the quality of its marketing intelligence. Which of the following best describes the practice used by McDonald's when it sent pseudo customers to assess stores' internal speed standards?
   1. training and motivating the sales force to spot and report new developments
   2. motivating intermediaries to pass along important intelligence
   3. networking externally
   4. purchasing information from outside research firms and vendors
   5. using the sales information system to get accurate sales reports

9. When gathering marketing intelligence, companies often use the 2000 U.S. census, which provides an in-depth look at the population swings, demographic groups, regional migrations, and changing family structure of 281+ million people. Which of the following steps to improve the quality of a company marketing intelligence system would be most closely associated with this illustration?
   1. A company can purchase information from outside suppliers.
   2. A company can take advantage of government data sources.
   3. A company can use online customer feedback systems to collect data.
   4. A company can network externally.
   5. A company can use its sales force to collect and report data.

10. The sites which offer positive or negative product or service reviews and are built by the retailers of a particular product or service are called                                                                .
    1. combo sites
    2. distributor or sales agent feedback sites
    3. public blogs
    4. independent service review forums
    5. customer complaint sites

11. A                        is "unpredictable, short-lived, and without social, economic, and political significance."
    1. fad
    2. fashion
    3. trend
    4. megatrend
    5. style Answer:  

12. 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.
    1. fad
    2. fashion
    3. trend
    4. megatrend
    5. style Answer:   C

13. Which of the following is true about trends in worldwide population growth?
    1. Birthrates are on the rise in developed countries.
    2. Overall, the world population growth is declining.
    3. Birthrates are on the rise in developing countries.
    4. Death rates are rising in developing countries.
    5. Population growth is highest in developing countries.

14. A growing population does not mean growing markets unless                              .
    1. the people are under a democratic system of government
    2. there is common ownership of all resources
    3. people have sufficient purchasing power
    4. there is adequate governmental intervention in the market
    5. the government has a budget surplus

15. Firms find "reverse innovation" advantage by                            .
    1. introducing a commodity in a developed country and then distributing it globally
    2. introducing a commodity in a developing country and then distributing it in other developing countries
    3. introducing a commodity in a developing country and then distributing it globally
    4. introducing a commodity in a developed country and then distributing it in developing countries
    5. introducing a commodity in a developed country and then distributing it in other developed countries

16.                        refer to groups of individuals who are born during the same time period and travel through life together.
    1. Cohorts
    2. Populations
    3. Clans
    4. Societies
    5. Ethnic groups

17. The three largest subgroups of the Hispanics in the U.S. are                              ,                       , and                       .
    1. Puerto Rican; Mexican; Chilean
    2. Salvadoran; Cuban; Dominican
    3. Mexican; Puerto Rican; Cuban
    4. Brazilian; Mexican; Cuban
    5. Salvadoran; Dominican; Columbian

18. The traditional household consists of                           .
    1. a husband, wife, and children (and sometimes grandparents)
    2. a group of related persons living together
    3. two or more families living together
    4. a man and a woman living together (whether married or not)
    5. related or unrelated persons who share living arrangements

19. Which of the following is likely to occur during economic downturns?
    1. People tend to spend more on luxury goods
    2. Consumption of necessary goods decline
    3. Long term credit is available at concessional rates of interest
    4. The purchasing power of the people declines
    5. The level of investment in the economy rises

20. Which of the following economies provide limited opportunities to international marketers to develop product sales?
    1. capitalist economies
    2. subsistence economies
    3. raw-materials-exporting economies
    4. industrializing economies
    5. industrialized economies

21. In the U.S., consumer expenditures on homes and big ticket items tend to slacken during recessions because                                                             .
    1. the consumers generally have a low debt-to-income ratio
    2. of steady supply of loanable funds in the economy during recession
    3. the consumers have a high debt-to-income ratio
    4. consumer borrowing increases during recession
    5. of stringent credit policies adopted by the Fed before the onset of recession

22. Which of the following elements of sociocultural environment can be associated with the growing demand for "social surrogates" like social networking sites, television, etc.?
    1. views of ourselves
    2. views of organizations
    3. views of others
    4. views of nature
    5. views of the universe

23. Today, corporations need to make sure that they are good corporate citizens and that their consumer messages are honest in order to positively align themselves with consumers'   .
    1. views of others
    2. views of organizations
    3. views of themselves
    4. views of the universe
    5. views of society