Question 1

Few consumers actually delete cookies frequently. When customers do not delete cookies, they expect customized marketing appeals and deals.

Accepted Answer

Studies have shown that a majority of consumers do not frequently delete cookies and expect personalized marketing experiences as a result. Therefore, this statement is true.

Question 2

By equipping its sales force with handheld devices with barcode 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

This is an example of the use of technology in improving sales information systems, specifically in providing better inventory assessment and freeing up more time for sales executives to interact with customers.

Question 3

What are the two basic advantages that a company's marketers have in identifying significant changes in the market?

Accepted Answer

The two advantages are
1. They have disciplined methods for collecting information.
2. They spend more time interacting with customers and observing competition.

Question 4

Marketers have little information about how consumption patterns vary across and within countries.

Accepted Answer

Marketers often conduct extensive research to understand consumption patterns, which can vary significantly across and within countries due to cultural, economic, and demographic differences. This information is crucial for tailoring marketing strategies to different markets.

Question 5

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 begins with the process of receiving orders from customers and ends with the payment received from them. In this cycle, the sales representatives and dealers send orders to the firm, followed by the sales department preparing invoices, and finally generating shipping and billing documents. This information is then sent to various departments for processing, such as the shipping department and accounts receivable department. The cycle ends with the payment received from customers, which is then recorded in the accounting system.

Question 6

Describe the steps in the order-to-payment cycle.

Accepted Answer

The answer of Describe the steps in the order-to-payment cycle....

Question 7

A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors' published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence.
A) sales-force surrogates
B) intermediaries
C) external networks
D) advisory panels
E) customer feedback systems

Accepted Answer

Attending open houses and trade shows, reading competitors' published reports and stockholder information indicates that the company is using external networks to improve the quality of its marketing intelligence.

Question 8

The company's marketing information system should be a mix of what managers think they need, what managers really need, and ________.
A) what the marketing research department is able to do
B) what consumers are willing to consume
C) what the government policies allow
D) what is acceptable at the industry level
E) what is economically feasible

Accepted Answer

The correct answer is what is economically feasible because a marketing information system must balance managerial needs with practical and financial constraints, ensuring that the system is both useful and viable within the company's economic capabilities.

Question 9

Why is it necessary for firms to execute the steps of the order-to-payment cycle quickly and accurately?

Accepted Answer

The answer of Why is it necessary for firms to...

Question 10

The heart of the internal records system is the ________ because customers favor firms that can promise timely delivery.
A) sales information system
B) data mining system
C) order-to-payment cycle
D) information needs probe
E) data warehouse

Accepted Answer

The order-to-payment cycle is the process of taking orders from customers, processing those orders, and receiving payment. It is critical to a company's success because timely delivery is highly valued by customers. Therefore, the heart of the internal records system is the order-to-payment cycle.

Question 11

What is a marketing information system (MIS)? From what sources is the MIS developed?

Accepted Answer

The answer of What is a marketing information system (MIS)?...

Question 12

List three examples of how companies are using Big Data.

Accepted Answer

The answer of List three examples of how companies are...

Question 13

Because customers are not really concerned with timely delivery, customers are unlikely to differentiate between firms based on their order-to-payment cycles.

Accepted Answer

Customers are concerned with timely delivery and can differentiate between firms based on their order-to-payment cycles. A faster and more efficient order-to-payment cycle can provide a better customer experience and increase customer loyalty.

Question 14

Companies with superior information enjoy a competitive advantage.

Accepted Answer

Companies with superior information have access to valuable insights that can inform strategic decisions and improve operational efficiency, giving them a competitive edge over their competitors. This is particularly true in today's data-driven business environment where information is a key resource for gaining an edge in the market.

Question 15

As the manager of an organization that is attempting to build a Marketing Information System (MIS), you have been informed that an 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

The three fundamental information sources for building an MIS are internal company records, marketing intelligence activities, and marketing research. While external records and documents, databases found on the internet, consultant reports, and secondary data from government sources can provide useful information, they are not considered fundamental sources for building the system.

Question 16

Mailing of a new offer to a handful of selected customers instead of all customers reduces the response rate to the offer.

Accepted Answer

Targeting a specific group of customers who are more likely to be interested in the offer can actually increase the response rate, as the offer is more relevant to their needs or interests.

Question 17

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 from both internal and external sources to provide managers with ongoing insights into the marketing environment. This information can then be used to make important decisions about strategy, product development, and more. Data warehousing systems, viral marketing campaigns, product management systems, and sales information systems may all be useful tools in their own right, but they are not specifically designed to serve as a comprehensive marketing intelligence system.

Question 18

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

Accepted Answer

The use of cookies allows companies to track and analyze the browsing behavior of individual users, which can then inform targeted marketing efforts. Plug-ins, black swans, trolls, and honey-pots are not related to this marketing strategy.

Question 19

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 marketing intelligence system supplies data about external events and trends, often referred to as "happenings," which can impact the market and business environment.

Question 20

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

The answer of A company can take several steps to...

Quiz 3: Collecting Information and Forecasting Demand

Few consumers actually delete cookies frequently. When customers do not delete cookies, they expect customized marketing appeals and deals.

By equipping its sales force with handheld devices with barcode 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 ________.

What are the two basic advantages that a company's marketers have in identifying significant changes in the market?

Marketers have little information about how consumption patterns vary across and within countries.

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.

Describe the steps in the order-to-payment cycle.

The company's marketing information system should be a mix of what managers think they need, what managers really need, and ________.

Why is it necessary for firms to execute the steps of the order-to-payment cycle quickly and accurately?

The heart of the internal records system is the ________ because customers favor firms that can promise timely delivery.

What is a marketing information system (MIS)? From what sources is the MIS developed?

List three examples of how companies are using Big Data.

Because customers are not really concerned with timely delivery, customers are unlikely to differentiate between firms based on their order-to-payment cycles.

Companies with superior information enjoy a competitive advantage.

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

Mailing of a new offer to a handful of selected customers instead of all customers reduces the response rate to the offer.

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

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

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

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?