Question 1

Internal and external data should be collected for a marketing information system

Accepted Answer

Internal and external data should be collected continuously to ensure the marketing information system is up-to-date and provides relevant insights for decision-making. Waiting to collect data periodically or infrequently can result in outdated and irrelevant information, leading to incorrect decision-making. Collecting data only when needed can also be problematic as it may miss important trends or patterns that could have been identified through continuous data collection. Monthly data collection may also not be frequent enough to keep up with the pace of market changes.

Question 2

IRI,a marketing research firm,has been contracted by T-Fal to evaluate the market performance of a new line of cookware.Which of the following is not likely to be a step in IRI's research process?

Accepted Answer

IRI's role is to gather and interpret the market data for T-Fal, but they are not responsible for making decisions about the acceptability of the cookware's market performance. This is ultimately up to T-Fal to determine based on IRI's findings.

Question 3

All of the following are ways to collect useful marketing research information except

Accepted Answer

Impulsively stopping persons on the street to inquire about their buying habits is not a reliable or ethical way of collecting marketing research information. It may result in biased or inaccurate data and could make people feel uncomfortable or invaded. The other options mentioned are all legitimate methods for collecting useful marketing research information.

Question 4

Pepsi wants to determine how popular its new soft drink will be before launching it nationwide.What will Pepsimost likely use?

Accepted Answer

Pepsi will most likely use marketing research to determine the popularity of its new soft drink before launching it nationwide. Marketing research involves collecting and analyzing data about consumer preferences, trends, and behavior, which can help companies make informed decisions about product development, pricing, promotion, and distribution strategies. By conducting surveys, focus groups, and other research methods, Pepsi can get feedback from potential customers and identify any issues or opportunities related to its new soft drink.

Question 5

The amount of a product an organization expects to sell during a certain period of time,based on a specified level of marketing effort,is called a

Accepted Answer

A sales forecast is the amount of a product an organization expects to sell during a certain period of time, based on a specified level of marketing effort. It is an important aspect of strategic planning and helps in budgeting, production, and inventory planning.

Question 6

When a company collects external marketing data,it looks at information about

Accepted Answer

External marketing data refers to information collected from sources outside of the company, such as customers, competitors, and industry trends. Option C is the only choice that refers to external data sources. The other options (A, B, D, and E) relate to internal information that a company may collect to analyze its own performance.

Question 7

General Foods Corporation uses data such as sales figures,product and marketing costs,inventory levels,and activities of its sales force to make marketing decisions.The firm is using ____ data.

Accepted Answer

The data used by General Foods Corporation is generated internally by the company through its own sales figures, product and marketing costs, inventory levels, and sales force activities. Therefore, it is internal data.

Question 8

In a marketing information system,data from internal sources include all of the following except

Accepted Answer

Internal sources refer to the data that is generated or collected by the company itself. Economic conditions are external factors that affect the company, therefore not considered as internal sources.

Question 9

In a marketing information system,data from external sources include all the following except

Accepted Answer

Sales force activities are considered internal data as they originate from within the firm.

Question 10

Macy's combines the inputs of buyer surveys,time-series analyses,correlation analyses,executive judgments,and market tests to develop a tool for predicting sales for the Christmas season.This tool would be termed a

Accepted Answer

The tool developed by Macy's by combining the inputs of buyer surveys, time-series analyses, correlation analyses, executive judgments, and market tests is used to predict sales for the Christmas season. Therefore, the tool can be termed as a sales forecast.

Question 11

MARS Chocolate Company is making an estimate of the amount of candy it expects to sell during the Christmas season based on a specified level of marketing effort.The method MARS uses for forecasting sales includes all of the following except

Accepted Answer

The method MARS uses for forecasting sales includes executive judgments, surveys of buyers or sales personnel, time-series analyses, and correlation analyses. However, financial ratios are not typically used as a method for forecasting sales.

Question 12

Levi Strauss is unsure of what sales forecasting method to use in determining future demand for its 501 blue jeans.When choosing the specific forecasting method,Levi Strauss should consider all of the following except

Accepted Answer

Capital investment projects are not relevant to the choice of sales forecasting method for determining future demand for 501 blue jeans. The other factors - costs, time span of the forecast, market characteristics, and experience of forecasters - should all be considered when choosing a forecasting method.

Question 13

A computer-based system for continually gathering internal and external information is called

Accepted Answer

A marketing information system is a computer-based system designed to continually gather and analyze internal and external data that can impact marketing decisions. This system helps businesses make more informed decisions based on current market trends and consumer behavior.

Question 14

Greer,Inc.is developing a marketing information system to try to improve its marketing efforts.Internal sources of marketing data the company could incorporate in the MIS include all of the following except

Accepted Answer

Economic conditions are not an internal source of data, they are external factors that may affect the company's marketing efforts. Internal sources such as sales forecasts, inventory levels, purchase requests, and prices of products can all be utilized in the development of the marketing information system.

Question 15

Karen,the marketing manager of RLS Manufacturing,is evaluating factors that could affect sales of its line of golf bags over the next year.She can get all of the following from the marketing plan except

Accepted Answer

The production goals are not a part of the marketing plan, they are developed by the operations or production department. The marketing plan should outline resource allocation plans, marketing objectives, marketing strategy, and implementation and control efforts.

Question 16

General Mills is setting up a marketing information system to keep track of marketing trends.External sources of marketing data include all of the following except

Accepted Answer

The company's historical sales data is an internal source of marketing data, not an external one. External sources include suppliers, economic forecasts, customers, and competitors' activities.

Question 17

Chrysler Corporation is designing a new sports car but is unsure of future demand for the product.Since it will take at least four years to bring the car to market,Chrysler requires ____ sales estimates at introduction and ____ sales estimates to determine future marketing requirements.

Accepted Answer

For the introduction phase, medium-range sales estimates are needed to understand the initial market reception and production needs. Long-range sales estimates are necessary for planning future marketing, production, and development strategies as the product matures in the market.

Question 18

The process of systematically gathering,recording,and analyzing data concerning a particular marketing problem is called

Accepted Answer

The process described in the question refers to marketing research, which involves the collection and analysis of data in order to make informed marketing decisions. Option B refers to a strategy for selecting specific groups of consumers to target. Option C refers to the process of dividing a larger market into smaller groups based on common characteristics. Option D refers to selecting a subset of the population for data collection. Option E is not a commonly used term in marketing research.

Question 19

In creating a marketing information system,management would collect data from internal sources such as

Accepted Answer

Internal sources refer to data that a company collects from within its own operations. Sales figures are an example of internal data that can be used to provide insights into purchasing trends, customer preferences, and other market conditions. While data from suppliers, customers, competitors, and economic conditions may also be useful in creating a marketing information system, these are external sources of data.

Question 20

Which of the following is least likely to be a factor in developing a sales forecast?

Accepted Answer

The number of salespeople employed by the firm's major competitors is unlikely to be a significant factor in developing a sales forecast as it is an external factor that is beyond the control of the company. The other factors listed (geographic area, last year's sales, product line, and marketing effort) are all internal factors that can be influenced and considered when developing a sales forecast.

Quiz 11: Building Customer Relationships Through Effective Marketing