Question 1

A ________ is "unpredictable,short-lived,and without social,economic,and political significance."
A) fad
B) fashion
C) trend
D) megatrend
E) style

Accepted Answer

A fad is a temporary trend that is unpredictable, short-lived, and does not have much social, economic, or political significance. Fads are often driven by popular culture and can disappear quickly, making them different from long-lasting trends or megatrends.

Question 2

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?
A) A company can purchase information from outside suppliers.
B) A company can take advantage of government data sources.
C) A company can use online customer feedback systems to collect data.
D) A company can network externally.
E) A company can use its sales force to collect and report data.

Accepted Answer

The illustration specifically mentions the use of the 2000 U.S. census, which is a government data source. Therefore, taking advantage of government data sources would be the most closely associated step to improve the quality of a company's marketing intelligence system.

Question 3

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?
A) training and motivating the sales force to spot and report new developments
B) motivating intermediaries to pass along important intelligence
C) networking externally
D) purchasing information from outside research firms and vendors
E) using the sales information system to get accurate sales reports

Accepted Answer

Sending pseudo customers to assess stores' internal speed standards is a form of motivating intermediaries (in this case, employees at the stores) to pass along important intelligence. This helps McDonald's gather first-hand customer experiences and improve their services.

Question 4

The three largest subgroups of the Hispanics in the U.S.are ________,________,and ________.
A) Puerto Rican; Mexican; Chilean
B) Salvadoran; Cuban; Dominican
C) Mexican; Puerto Rican; Cuban
D) Brazilian; Mexican; Cuban
E) Salvadoran; Dominican; Columbian

Accepted Answer

According to the U.S. Census Bureau, the three largest subgroups of Hispanics in the U.S. are Mexican, Puerto Rican, and Cuban.

Question 5

The heart of the internal records system is the ________.
A) pay-roll system
B) purchase order cycle
C) order-to-payment cycle
D) expense cycle
E) human resources system

Accepted Answer

The answer of The heart of the internal records system...

Question 6

The internal records system supplies results data,but the marketing intelligence system supplies ________ data.
A) internal
B) revenue
C) thematic
D) happenings
E) process

Accepted Answer

The answer of The internal records system supplies results data,but...

Question 7

Which of the following economies provide limited opportunities to international marketers to develop product sales?
A) capitalist economies
B) subsistence economies
C) raw-materials-exporting economies
D) industrializing economies
E) industrialized economies

Accepted Answer

Subsistence economies are based on simple agriculture and consume their own industrial and agricultural output. They have little infrastructure for distributing products, so there are limited opportunities for international marketers to develop product sales.

Question 8

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.
A) payroll system
B) market research process
C) human resources system
D) expense cycle
E) order-to-payment cycle

Accepted Answer

The order-to-payment cycle involves the process of receiving orders from customers, preparing invoices, generating shipping and billing documents, and finally receiving payments from customers. This cycle involves sales representatives, dealers, sales department, and various other departments including accounts receivable and cash receipts. Therefore, option E is the best choice for this question.

Question 9

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

Accepted Answer

The use of handheld devices with bar-code readers and Internet connections is an example of technology being used to improve sales information systems. This technology allows for faster inventory assessment, which gives the sales force more time to interact with consumers and ultimately sell more products.

Question 10

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.
A) external records and documents
B) databases found on the Internet
C) consultant reports
D) internal company records
E) secondary data from government sources such as the Better Business Bureau

Accepted Answer

Internal company records, such as sales data and customer information, are one of the three fundamental information sources for building a Marketing Information System (MIS). The other two sources are marketing intelligence activities (e.g. monitoring competitors and market trends) and marketing research (e.g. conducting surveys and focus groups). While external records and documents, databases found on the internet, consultant reports, and secondary data from government sources can all be helpful in building a MIS, they are not one of the three fundamental information sources mentioned in the question.

Question 11

The traditional household consists of ________.
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

Accepted Answer

The traditional household has typically consisted of a husband, wife, and children, although sometimes grandparents may also live in the household. This nuclear family structure was the dominant model for much of the 20th century.

Question 12

Firms find "reverse innovation" advantage by ________.
A) introducing a commodity in a developed country and then distributing it globally
B) introducing a commodity in a developing country and then distributing it in other developing countries
C) introducing a commodity in a developing country and then distributing it globally
D) introducing a commodity in a developed country and then distributing it in developing countries
E) introducing a commodity in a developed country and then distributing it in other developed countries

Accepted Answer

Reverse innovation is the process of innovating in emerging markets and then distributing these innovations to developed markets. Therefore, introducing a commodity in a developing country and then distributing it globally is the best choice as it aligns with the definition of reverse innovation.

Question 13

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 ________.
A) combo sites
B) distributor or sales agent feedback sites
C) public blogs
D) independent service review forums
E) customer complaint sites

Accepted Answer

The sites built by the retailers offering reviews for their own products or services are known as distributor or sales agent feedback sites.

Question 14

A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.
A) data warehousing system
B) viral marketing campaign
C) product management system
D) marketing intelligence system
E) sales information system

Accepted Answer

A marketing intelligence system is specifically designed to gather and analyze information about the marketing environment, including competitors, customers, and other external factors. This system can help managers stay informed about changes in the market and make informed decisions about their marketing strategies. The other options, such as a data warehousing system or product management system, may be useful for other purposes but are not specifically focused on marketing intelligence.

Question 15

A growing population does not mean growing markets unless ________.
A) the people are under a democratic system of government
B) there is common ownership of all resources
C) people have sufficient purchasing power
D) there is adequate governmental intervention in the market
E) the government has a budget surplus

Accepted Answer

A growing population may contribute to the potential size of a market, but it does not necessarily mean a growing market in reality. For a market to grow, people must have sufficient purchasing power to buy goods and services. Without adequate purchasing power, a large population is not beneficial for a business aiming to increase sales.

Question 16

Companies can practice targeted marketing by using ________-records of Web site usage stored on personal browsers.
A) plug-ins
B) black swans
C) cookies
D) trolls
E) honey-pots

Accepted Answer

Cookies are records of website usage data that are stored on personal web browsers. Companies can use this data to practice targeted marketing.

Question 17

________ refer to groups of individuals who are born during the same time period and travel through life together.
A) Cohorts
B) Populations
C) Clans
D) Societies
E) Ethnic groups

Accepted Answer

Cohorts specifically refer to groups of individuals who are born during the same time period and travel through life together. Populations, clans, societies, and ethnic groups may include individuals from multiple cohorts.

Question 18

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.
A) fad
B) fashion
C) trend
D) megatrend
E) style

Accepted Answer

The answer of A ________ is a direction or sequence...

Question 19

Which of the following is likely to occur during economic downturns?
A) People tend to spend more on luxury goods
B) Consumption of necessary goods decline
C) Long term credit is available at concessional rates of interest
D) The purchasing power of the people declines
E) The level of investment in the economy rises

Accepted Answer

During economic downturns, the purchasing power of people tends to decline as there is a decrease in income and employment opportunities. This results in a decrease in consumption and overall economic activity, leading to a recessionary phase.

Question 20

Which of the following is true about trends in worldwide population growth?
A) Birthrates are on the rise in developed countries.
B) Overall, the world population growth is declining.
C) Birthrates are on the rise in developing countries.
D) Death rates are rising in developing countries.
E) Population growth is highest in developing countries.

Accepted Answer

The answer of Which of the following is true about...

Quiz 3: Collecting Information and Forecasting Demand

A ________ is "unpredictable,short-lived,and without social,economic,and political significance."

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?

The three largest subgroups of the Hispanics in the U.S.are ,,and .

The heart of the internal records system is the ________.

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

Which of the following economies provide limited opportunities to international marketers to develop product sales?

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.

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 ________.

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.

The traditional household consists of ________.

Firms find "reverse innovation" advantage by ________.

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 ________.

A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.

A growing population does not mean growing markets unless ________.

Companies can practice targeted marketing by using ________-records of Web site usage stored on personal browsers.

________ refer to groups of individuals who are born during the same time period and travel through life together.

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.

Which of the following is likely to occur during economic downturns?

Which of the following is true about trends in worldwide population growth?