Which of the following is a requirement for good decision making
Data
Which of the following is not a common type of data used by marketers
Quote
Which of the following is an example of a fact
Valentine's Day is on February 14
Quinn is getting ready to start college. Though she knows that the figure could change over time, she guesses that her four years in school will cost her around $65,000. This is an example of a(n)
estimate
Which of the following is an example of a prediction
Sales will be up four percent next quarter
Which of the following is an example of data that marketers could gather from the company's sales team
How actual sales compare to sales goals
Which of the following pieces of data give a wealth of information about a customer
A sales invoice
A piece of easily observable data about a competitor is its
current promotional campaign
The best source for data about the goods and services a company needs to buy for its own operation is its
vendors
Which of the following is an example of a trade journal
Autoparts Report
Having appropriate data helps marketers to set goals that are
realistic
Which of the following is a product strategy that marketers devise using available data
What level of customer service to provide
Marketers use data to determine pricing strategies such as
when to offer a discount on the product
Marketers use data to determine that they want to create messages that appeal to a younger target market. This is part of an overall
promotional strategy
Which of the following is a "place" strategy that marketers devise using available data
How much of the product to create
Marketers must use data to estimate costs for projects and allocate funds appropriately. This is known as
budgeting
Which of the following is a way that marketers can use data to "follow up" on any problems or issues with a product
Providing salespeople with additional training
Data obtained from negative outcomes can help marketers to
avoid making the same mistakes in the future
Which of the following is a true statement about the wise use of available data
It creates more satisfied customers
Using data wisely can help a company save money by
running more efficiently
Ted is planning a new advertising campaign for his company, a stable that offers private horseback-riding lessons. Which of the following is data that would be useful for Ted's marketing decision making:
Market share data for his company during the past year
Which of the following is an example of a primary data source:
A market-research survey
Which of the following is an example of a secondary data source:
A warranty card
Juliana wants to measure her business's actual sales against its goals for the quarter. She needs to conduct a
sales volume analysis
Which of the following data might a business learn from its customers:
Data about buying habits
Simon wants to know how well his company did last quarter in relation to other companies in its industry. He needs to conduct a
market share analysis
Where is the best place to start looking for data about competitors?
The company's web site
Which of the following is a basic rule governing the collection of data for marketing decision making:
Don't overextend company resources
Pauline has gathered so much data for her business's marketing team that she's having trouble organizing and storing them all. These data have become less useful to Pauline's company because of
information overload
Wayne is in charge of collecting useful marketing data for his company. He has decided that sales will be considered final when the product(s) have shipped. This is an example of
setting parameters
Which of the following is not a question that should be considered when creating a plan to collect, store, and analyze data for marketing decision making:
What new products should be developed?
If marketers do not have enough secondary data available to meet the company's needs, they must
conduct primary research
Most companies consider the most valuable source of secondary data to be
sales invoices
Which of the following data are likely to be found in a business's customer records:
Annual purchases and product usage
The data needed for sales volume analyses and market share analyses come from
company sales reports
Cedric has just spent $150 taking a potential customer out to dinner. He will submit this data in a(n)
expense report
Since not every sales call results in a sale, it's important for salespeople to track customer contacts in
call reports
The future service a customer expects for a certain product is data likely to be found
on a warranty card
Which of the following statements about retrieving data for marketing decision making is true:
Many employees are involved in the process
Which of the following is a question that might be answered by analyzing the data a company retrieves for marketing decision making:
How can we become more competitive?