Marketing Data Do It Review

Which of the following is an example of data that marketers could gather from the company’s sales team:

• The latest market-research studies
• The prices of raw materials
• What products competitors are currently offering
• How actual sales compare to sales goals

Having appropriate data helps marketers to set goals that are

• Open-ended
• realistic
• general
• difficult

A piece of easily observable data about a competitor is its

• current promotional campaign
• products in development
• sales reports
• future plans

Data obtained from negative outcomes can help marketers to

• avoid making the same mistakes in the future.
• increase profits
• create SMART goals
• analyze sales reports effectively

Which of the following is a “place” strategy that marketers devise using available data:

• How much of the product to create
• What level of customer service to provide
• When to change the product’s price
• What market segment to target

Marketers must use data to estimate costs for projects and allocate funds appropriately. This is known as

• distributing.
• promoting
• pricing.
• budgeting

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)

• quote.
• sales report
• estimate.
• fact

Which of the following pieces of data give a wealth of information about a customer:

• A trade journal
• A sales invoice
• An expense report
• A sales report

Which of the following is not a common type of data used by marketers:

• quote
• prediction
• estimate
• fact

Marketers use data to determine pricing strategies such as

• how much to spend on advertising
• how much of the product to create
• when to offer a discount on the product.
• what products to offer.