1 Show 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. D 2 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. D 3 The heart of the internal records system is the ________. C 4 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. E 5 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 6 Companies can practice targeted marketing by using ________–records of Web site usage stored on personal browsers. C 7 The internal records system supplies results data, but the marketing intelligence system supplies ________ data. D 8 A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment. D 9 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? B 10 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. C 11 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? B 12 When a company acquires consumer-panel data from firms like A.C. Nielsen Company and Information Resources Inc., which of the following steps to improve the quality of a company marketing intelligence system is the company resorting to? E 13 Elance.com is a service provider that allows contractors to describe their level of satisfaction with subcontractors. This is an example of a(n) ________. E 14 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 ________. B 15 A ________ is "unpredictable, short-lived, and without social, economic, and political significance." A 16 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. C 17 A ________ is a "large social, economic, political, and technological change that is slow to D 18 Which of the following is true about trends in worldwide population growth? E 19 A growing population does not mean growing markets unless ________. C 20 In the U.S., people born between the years ________ are called boomers. B 21 Firms find "reverse innovation" advantage by ________. C 22 ________ refer to groups of individuals who are born during the same time period and travel through life together. A 23 According to the 2000 Census, which of the following is the largest group in the United States? A 24 The three largest subgroups of the Hispanics in the U.S. are ________, ________, and ________. C 25 Which of the following is true about the growth of the Hispanic population in the U.S.? E 26 The traditional household consists of ________. A 27 By 2010, projections indicate that the largest category of households will be composed of ________. A 28 Which of the following is likely to occur during economic downturns? D 29 Which of the following economies provide limited opportunities to international marketers to develop product sales? B 30 In response to the U.S. income distribution trend toward ________, Levi-Strauss introduced premium Levi's Capital E line to upscale retailers and the economy Levi Strauss Signature line to mass-market retailers. E 31 In the U.S., consumer expenditures on homes and big ticket items tend to slacken during recessions because ________. C 32 Which of the following elements of sociocultural environment can be associated with the growing demand for "social surrogates" like social networking sites, television, etc? C 33 Today, corporations need to make sure that they are good corporate citizens and that their consumer messages are honest in order to positively align themselves with consumers' ________. B 34 People vary in their views of society and their consumption patterns often reflect their social attitudes. ________ usually live more frugally, drive smaller cars, and wear simpler clothing. D 35 People vary in their views of society and their consumption patterns often reflect their social attitudes. ________ usually eat, dress, and live well. A 36 People vary in their views of society and their consumption patterns often reflect their social attitudes. ________ are a major market for movies, music, surfing, and camping. C 37 ________ beliefs and values are passed from parents to children and reinforced by social institutions—schools, churches, businesses, and governments; they are very difficult to change. D 38 Which of the following would be the best illustration of a secondary belief or value? D 39 Each society contains ________, groups with shared values emerging from their special life experiences or circumstances. D 40 Which of the following is the largest contributor to global warming, contributing almost a quarter of the carbon dioxide in the environment? C 41 Which of the following is the second largest contributor to global warming, accounting for roughly a fifth of carbon emissions? A 42 Firms whose products require ________ resources—oil, coal, platinum, zinc, silver—face substantial cost increases as depletion approaches. D 43 Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a "green marketing" program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program's chances of being successful? A 44 When a company is said to have engaged in "greenwashing," it means that ________. D 45 Which of the following consumer environmental segments cares a great deal about the environment, but doesn't seem to have the knowledge or resources to take action? E 46 The consumer environmental segment termed ________ holds the view that the environment is not a huge concern and that business and industry is doing its part to help. This may explain why they don't feel the need to take action themselves—even as they cite lots of barriers to doing so. They are also the largest consumer environmental segment. B 47 The consumer environmental segment termed ________ claims to be knowledgeable about environmental issues, but does not express pro-green attitudes or behaviors. Indeed, it is practically hostile toward pro-environmental ideas. This segment has chosen to reject prevailing notions about environmental protection and may even be viewed as a potential threat to green initiatives. C 48 Which of the following is true about the technology trends that marketers should monitor? D 49 Mandatory recycling laws have boosted the recycling industry and launched dozens of new companies making new products from recycled materials. Which of the following most closely resembles the situation discussed above? D 50 An unintended effect of business legislation is ________. E 51 An important force affecting business is the ________ movement, a movement of citizens and government organized to strengthen the rights and powers of buyers in relation to sellers. B 52 Companies can prepare as many as ________ different types of demand estimates. D 53 The demand estimates of an organization comprise of five space levels. They are world, country, region, territory, and ________. C 54 The ________ market is the set of consumers with an adequate interest, income, and access to a particular offer. B 55 The ________ market is the part of the qualified available market the company decides to pursue. C 56 The ________ market is the set of consumers who are buying the company's product. D 57 When the government of any country restricts the sale of a particular commodity to certain groups—for example, restricting sales of alcohol to individuals above the age of 21—the eligible consumers who have income, interest, access and qualification constitute the ________. E 58 Jeanine would like to own a Mercedes but is unable to afford one at this time. Jeanine is part of the ________ for this product. A 59 ________ for a product is the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program. C 60 With an increase in marketing expenditure, market demand ________. C 61 The base sales of an organization that takes place even without any demand-stimulating expenditures is called ________. C 62 The distance between the market minimum and the market potential shows the overall ________. A 63 A low market-penetration index indicates ________. B 64 Only one level of industry marketing expenditure will actually occur. The market demand corresponding to this level is called the ________. C 65 A company can expect to expand its market share to a large extent when ________. B 66 During recession, the market demand curve which is a function of marketing expenditure ________. D 67 The sales goal set for a product line, company division, or sales representative of an organization is called ________. C 68 A ________ is a conservative estimate of the expected volume of sales, primarily for making A 69 ________ is the limit approached by market demand as industry marketing expenditures approach infinity for a given marketing environment. E 70 ________ is the company's estimated share of market demand at alternative levels of company marketing effort in a given time period. C 71 ________ is the sales limit approached by company demand as company marketing effort increases relative to that of competitors. D 72 A company's sales potential would be equal to market potential if ________. E 73 ________ is the maximum sales available to all firms in an industry during a given period, under a given level of industry marketing effort and environmental conditions. E 74 Suppose an individual buyer purchases three pairs of shoes each year at $50 each pair and that there are 50 million such consumers in the economy. Compute the total market potential for shoes. D 75 The ________ method of determining area market potential calls for identifying all the potential buyers in each market and estimating their potential purchases. C 76 An efficient method of estimating area market potentials makes use of the ________, developed by the U.S. Bureau of the Census in conjunction with the Canadian and Mexican governments. It classifies all manufacturing into 20 major industry sectors and further breaks each sector into a six-digit, hierarchical structure. E 77 Which of the following organizations is likely to use the multiple-factor index method to estimate the market potential? E 78 Which of the following is true of the various elements of the multi-factor index method of estimating area market potentials? B 79 Suppose Concrete Express, a cement manufacturing firm, finds that its sales have increased by 3 percent this year, while industry sales have increased by 5 percent. This implies that ________. B 80 For which of the following categories of products will demand forecasting be easiest? C 81 Novamalt Inc., a manufacturer of health drinks, plans to introduce its new range of woman health drinks into the market. It involves a specialized marketing research firm to forecast the sales of this product. The research firm analyzes past buying behavior of customers and uses time-series analysis for making the sales forecasts. Which of the following information bases is being used by the research firm in this scenario? C 82 Timeseries analysis method of forecasting sales breaks past time series into four components- trend, cycle, seasonal, and ________. C 83 ________ projects the next period's sales by combining an average of past sales and the most recent sales, giving more weight to the latter. E 84 ________ measures the impact of a set of causal factors (such as income, marketing expenditures, and price) on the sales level. B 85 The sales forecasting method of ________ builds sets of equations that describe a system and statistically derives the different parameters that make up the equations statistically. C 86 Marketers have little information about how consumption patterns vary across and within countries. false 87 Companies with superior information enjoy a competitive advantage. true 88 Many firms use the Internet and extranets to improve the speed, accuracy, and efficiency of the order-to-payment cycle. true 89 Few consumers actually delete cookies frequently. When customers do not delete cookies, they expect customized marketing appeals and deals. true 90 Mailing of a new offer to a handful of selected customers instead of all customers reduces the response rate to the offer. false 91 Competitive intelligence gathering is inherently illegal and unethical. false 92 If a company were pursuing a policy of networking externally to gather marketing intelligence, it might collect competitors' ads or look up news stories about competitors. true 93 One of the ways to find relevant online information on competitors' strengths and weaknesses might be to frequent distributor or sales agent feedback sites. true 94 The competitive intelligence function works best when it is closely coordinated with the decision-making process. true 95 A fad is more predictable and durable than a trend. false 96 A new market opportunity generally guarantees success, if the new product is technically feasible. false 97 Demographic developments are often unpredictable. false 98 Population growth is highest in countries and communities that can least afford it. true 99 There is a global trend toward an aging population. true 100 The basis of cohort segmentation is that the experiences of key defining moments during the time when an individual becomes an adult can influence his or her values, preferences, and buying behaviors for the rest of his or her life. true 101 Marketing strategies of firms should not consider the ethnic and racial diversity existing in their markets. false 102 Consumers belonging to the same ethnic group have identical tastes and preferences. false 103 Of all illiterate adults in the world, two-thirds are women. true 104 Households comprising of single, separated, widowed, and divorced individuals generally demand larger apartments, and expensive appliances, furniture, and furnishings. false 105 The available purchasing power in an economy depends on current income, prices, savings, debt, and credit availability. true 106 Industrial economies provide limited marketing opportunities for luxurious goods. false 107 Markets with a segment of very wealthy consumers, but high income disparity, present few opportunities to marketers. false 108 Business has responded to increased awareness of nature's fragility and finiteness by producing wider varieties of camping, hiking, boating, and fishing gear such as boots, tents, backpacks, and accessories. true 109 Secondary beliefs and values are passed on from parents to children and reinforced by major social institutions, making them very difficult to change by marketers. false 110 Environmental regulations enforced by the government adversely affect automobile and steel manufacturing companies. true 111 Corporate environmentalism recognizes the need to integrate environmental issues into the firm's strategic plans. true 112 Firms that can develop substitute materials for finite nonrenewable resources have an excellent opportunity. true 113 The time between introduction of products and peak production is shrinking. true 114 A growing portion of U.S. R&D expenditures goes to the development as opposed to the research side. true 115 Regulation of technological changes has been relaxed by the U.S. government over recent years. false 116 Environmental laws imposed by the government may at times create new business opportunities. true 117 Demand estimates prepared by companies are based on four different time periods. false 118 The penetrated market is the set of consumers who have an interest in a market offer but do not have the accessibility. false 119 Market demand for a product is the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program. true 120 An expansible market is unlikely to be affected by the level of industry marketing expenditures. false 121 The market forecast shows expected market demand, not maximum market demand. true 122 Companies assume that the lower the product-penetration percentage, the lower will be the market potential. false 123 In order to estimate future demand, companies commonly prepare a company sales forecast first, followed by an industry forecast, and finally a macroeconomic forecast. false 124 Forecasting is the art of anticipating what buyers are likely to do under a given set of conditions. true 125 Sales reps might have better insight into developing trends than any other group, and forecasting might give them greater confidence in their sales quotas and more incentive to achieve them. true What is the part of the qualified available market the company decides to pursue?The available market is the set of consumers who have interest, income, and access to a particular offer. The target market is the part of the qualified available market the company decides to pursue. The penetrated market is the set of consumers who are buying the company's product.
What is meant by targeting in marketing?Targeting in marketing involves breaking the target audience into segments and then designing marketing activities that will reach the segments most likely to be responsive to your efforts. Target marketing can greatly increase the success you have in reaching potential customers.
What are the 4 types of target market?The four target markets are geographic, demographic, psychographic, and behavioral.
What is available market and penetrated market?Qualified available market - those in the available market who legally are permitted to buy the product. Target market - the segment of the qualified available market that the firm has decided to serve (the served market). Penetrated market - those in the target market who have purchased the product.
|