Question 1

Interpretative research is often used to interpret consumer behavior within a foreign culture where consumer expectations are subject to different cultural influences.

Accepted Answer

Interpretative research is often used in social sciences to interpret and understand human behavior and experiences based on subjective interpretations rather than empirical data. In the context of consumer behavior, interpretative research is often used to understand how cultural influences affect consumer expectations and decision-making processes, particularly within a foreign culture where cultural norms and practices may differ significantly from those in the researcher's own culture.

Question 2

Firms rarely use test marketing for long lived durable goods.

Accepted Answer

Test marketing is expensive and time-consuming, and for long-lived durable goods, there is often enough data and research available to make informed decisions without conducting a full test market.

Question 3

A company using exponential smoothing technique for forecasting their sales in 2012,is likely to award a 1.5 weight for sales data of 2012,2.0 weight for sales data from 2011,and 2.5 weight for the sales data from 2009.

Accepted Answer

Exponential smoothing does not assign specific weights to past data, but rather assigns weights based on the smoothing parameter or alpha value. The weights given in the question are arbitrary and not indicative of how exponential smoothing works.

Question 4

Planners apply qualitative sales forecasting techniques when they want judgmental or subjective indicators.

Accepted Answer

Qualitative sales forecasting techniques rely on subjective indicators such as expert opinions, surveys, and market intelligence. Therefore, planners use qualitative techniques when they need to incorporate judgmental or subjective factors into their forecast.

Question 5

A marketing information system (MIS)is a part of a firm's overall management information system that deals specifically with marketing data and issues.

Accepted Answer

The statement is true. A marketing information system (MIS) is a specialized component of a firm's overall management information system (MIS) that focuses on gathering, analyzing, and interpreting data related to marketing activities and issues.

Question 6

Interpretative research focuses on understanding the meaning of a product or the consumption experience in a consumer's life.

Accepted Answer

Interpretative research is a qualitative approach that focuses on understanding the subjective experiences of individuals in a particular context. It involves collecting data through interviews, observation, and other methods to interpret the meaning that consumers ascribe to a product or consumption experience in their lives.

Question 7

Millions of consumers purchase Johnson & Johnson Band-Aids each year.Due to this large consumer base,the best method that Johnson & Johnson can use to forecast sales of Band-Aid is the survey of buyer intentions.

Accepted Answer

While survey of buyer intentions is one method that can be used for forecasting sales, it is not necessarily the best method. Other methods such as historical sales data analysis, market trend analysis, and competitor analysis could also be considered. Additionally, the size of the consumer base does not necessarily dictate the best forecasting method.

Question 8

Test marketing a new product is expensive and communicates company plans to competitors prior to its full-scale introduction.

Accepted Answer

Test marketing typically involves a smaller scale launch of the product, which can be costly. Additionally, this strategy can reveal information about the product's pricing, marketing, and distribution plans to competitors, potentially giving them an advantage in the market.

Question 9

A marketing information system allows marketers to store data,classify and analyze that data,and retrieve it easily when needed.

Accepted Answer

A marketing information system is designed to collect, store, analyze, and distribute information that is relevant to a company's marketing activities. It provides a framework for collecting and analyzing data that can be used to make decisions about product development, pricing, promotion, and distribution. With a marketing information system, marketers can easily access the data they need and use it to develop effective marketing strategies.

Question 10

Emily,a custom homebuilder,observes that the last year's sales were $1,500,000 and the sales growth rate for the past several years has been averaging 10 percent.On that basis,Emily predicts that this year's sales should be $1,650,000.Emily is using the method of trend analysis for forecasting sales.

Accepted Answer

The statement describes the use of trend analysis for forecasting sales based on past sales growth rates, which is a valid method. Therefore, the answer is true.

Question 11

A sales forecast is an important tool for marketing control because it sets standards against which actual performance can be measured.

Accepted Answer

A sales forecast provides a benchmark for expected sales and allows for comparison to actual sales data, helping to evaluate the effectiveness of marketing strategies and adjust plans accordingly.

Question 12

Mail surveys and telephonic interviews are the most common methods for conducting primary research in developing countries.

Accepted Answer

The answer of Mail surveys and telephonic interviews are the...

Question 13

Businesses may need to adjust their data collection methods for primary research in foreign countries since some methods do not easily transfer across national borders.

Accepted Answer

Cultural, linguistic, and technological differences may require businesses to adapt their primary research methods to be effective in foreign countries.

Question 14

The jury of executive opinion not only gathers information from company executives,but also from experts outside the firm such as academic researchers.

Accepted Answer

The answer of The jury of executive opinion not only...

Question 15

The Delphi technique is preferred by marketers as it is quick and inexpensive,and works best for short-run forecasting.

Accepted Answer

The Delphi technique is generally not quick or inexpensive; it involves multiple rounds of surveys and is more suited for long-term forecasting rather than short-run forecasting.

Question 16

Buyer surveys gather useful information only when customers willingly reveal their buying intentions.

Accepted Answer

Buyer surveys are most effective when customers are honest and open about their buying intentions, as this provides accurate and actionable data for businesses.

Question 17

Quantitative forecasting methods rely on subjective data that reports opinions rather than exact historical data.

Accepted Answer

Quantitative forecasting methods rely on numerical data and objective historical data, rather than subjective opinions.

Question 18

A marketing information system (MIS)develops available data into information useful for decision making.

Accepted Answer

The answer of A marketing information system (MIS)develops available data...

Question 19

Online companies need to be careful while using the personal data of consumers as there are various laws imposed to govern the use of personal data by online companies and data aggregators.

Accepted Answer

The answer of Online companies need to be careful while...

Question 20

Data mining focuses on identifying relationships that are not obvious to the marketers.

Accepted Answer

Data mining techniques aim to discover hidden patterns and relationships among large datasets that may not be immediately apparent, helping to unveil insights that marketers can use to make informed decisions.

Quiz 10: Marketing Research and Sales Forecasting