Question 1

Hershey 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 Hershey uses for forecasting sales includes all of the following except

Accepted Answer

The method Hershey uses for forecasting sales includes executive judgments, surveys of buyers or sales personnel, time-series analysis, and correlation analysis. However, financial ratios are not typically used to forecast sales in the candy industry.

Question 2

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

General Foods Corporation is using data that they have collected internally within their own company, making it internal data.

Question 3

The effects of changes that can cause a product to become obsolete almost overnight would best be called ____ forces.

Accepted Answer

Technological forces refer to changes in technology that can impact a product's relevance and quickly make it obsolete. As such, this is the best choice in the given options. Competitive forces refer to the actions of competitors in the market, political forces relate to laws and regulations, sociocultural forces relate to societal and cultural shifts, and economic forces relate to the state of the economy. While some of these factors may impact a product's relevance, technological advances are most likely to cause a product to become obsolete overnight.

Question 4

Leslie, 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 marketing plan could provide information on resource allocation plans, marketing objectives, advertising budget, and expected coupon redemption rates. However, production goals are not typically included in a marketing plan as they relate to the manufacturing process rather than marketing strategies.

Question 5

Influences on the external marketing environment that stem from actions of elected and appointed officials are called ____ forces.

Accepted Answer

Political forces refer to the influences on the external marketing environment that stem from actions of elected and appointed officials. These forces include laws, regulations, policies, and political actions that can impact the marketing activities of businesses. Political forces can create opportunities or pose threats to the success of a company, as they can impact factors such as taxes, trade regulations, and government spending.

Question 6

In determining whether to manufacture and market a line of luxury automobiles, Ford Motor Company studies the effects of economic conditions on consumers' ability and willingness to buy. The company is assessing ____ forces.

Accepted Answer

Economic forces are those that relate to the economy, including interest rates, inflation, consumer spending patterns, and other factors that impact consumers' ability and willingness to buy. Ford Motor Company is specifically studying economic conditions to determine whether to manufacture and market luxury automobiles, making economic forces the most relevant in this scenario.

Question 7

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

When deciding on a sales forecasting method for its 501 blue jeans, Levi Strauss should consider the costs involved, time span of the forecast, market characteristics, and the experience of forecasters. However, capital investment projects are not relevant to forecasting demand for a product.

Question 8

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 a prediction of expected sales during a specific period and is based on various factors, including marketing efforts. It helps organizations plan production, inventory, and staffing levels, and make informed decisions about marketing strategies.

Question 9

After reviewing a report showing that one of the company's competitors recently increased its market share by 10 percent, the president called a meeting and asked the marketers, "Is there anything we can do about this?" The marketers responded, "We can modify our marketing mix, but we cannot

Accepted Answer

It is impossible to control the marketing strategies of competitors. The other options are possible strategies to modify the company's marketing mix.

Question 10

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 not a direct factor in developing a sales forecast. Factors such as geographic area, past sales, product line, and marketing effort directly impact sales forecasting.

Question 11

A law requiring nutritional information on the outside packaging of food products is what type of force in the external marketing environment?

Accepted Answer

A law requiring nutritional information is a regulatory and legal force in the external marketing environment, as it is a government mandate that companies must comply with.

Question 12

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 external sources of marketing data as they are influenced by factors outside the company's control, such as the overall state of the economy or changes in government policies. The other options - sales forecasts, inventory levels, purchase requests, and prices of products - are all internal sources of data as they pertain to the company's own operations and performance.

Question 13

JCPenney 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 combination of buyer surveys, time-series analyses, correlation analyses, executive judgments, and market tests to develop a tool for predicting sales for the Christmas season is a sales forecast.

Question 14

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 15

Companies that manufacture typewriters found themselves in trouble quickly when personal computers and word processors became popular. These companies were most impacted by ____ forces.

Accepted Answer

The technological forces of personal computers and word processors replaced the need for typewriters and led to the decline of typewriter manufacturers.

Question 16

The first stage in the development of a marketing plan is to

Accepted Answer

Assessing the marketing environment is the first step in developing a marketing plan. It involves analyzing the internal factors, such as the company's strengths and weaknesses, and the external factors, such as the competition and changing market trends, that could impact the marketing strategy. This information is essential for determining the target market and developing marketing objectives.

Question 17

Joseph Kuhn was trained as an engineer, but recently he has been assigned the marketing responsibility for his company. In his role as a marketer, he wants to know what marketing can and cannot control. You indicate that marketing cannot control

Accepted Answer

Marketing cannot control consumers' social values, as these are deeply ingrained beliefs and attitudes that are shaped by a wide range of societal and cultural forces. While marketing can influence these values to some extent through messaging and branding, it cannot fundamentally alter them. The other choices listed in the question (price, color, sales promotion, and distribution) are all elements of the marketing mix that can be controlled to varying degrees by marketers.

Question 18

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

Accepted Answer

Internal and external data should be collected continually for a marketing information system. Continuous data collection helps businesses have a real-time understanding of the market and customer needs. This information can inform decision-making for marketing strategies, product development, and more. Waiting to collect data periodically, infrequently, or at the end of each month could result in missed opportunities or outdated information. Therefore, it is essential to collect data continually.

Question 19

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

Accepted Answer

A marketing information system (MIS) is a computer-based system that continually gathers internal and external information. It helps organizations make decisions related to marketing and provides the necessary data for analyzing the marketing environment, identifying trends, and staying on top of customer needs and preferences. Marketing research is just one component of an MIS, which also includes data collection, analysis, and dissemination to decision-makers. Market segmentation and targeting are marketing strategies based on the information gathered through an MIS. However, "market programming" is not a recognized term in marketing literature.

Question 20

All of the following are parts of strategic market planning except

Accepted Answer

Developing a new package is not a part of strategic market planning. The other options are all important components of strategic market planning.

Quiz 12: Building Customer Relationships Through Effective Marketing