Marketing Management EOPA Study Guide(MIM)

Which of the following is NOT a reason for importance of marketing information?

• It identifies market opportunities

• It solves marketing problems

• Monitors performance

• It persuades, reminds or informs customers about a product

Identify the type of market research data based on the characteristics below:

Data collected by a company regarding sales of a particular product or time period, etc...

• Company data

• Competitor data

• Government data

• Market research data

Identify the type of market research data based on the characteristics below:

Data regarding competitors, their products, and their territory, etc that can be used to improve a company’s market position

• Company data

• Competitor data

• Government data

• Market research data

Identify the type of market research data based on the characteristics below:

Data that can help company’s understand consumer wealth, demographic data (US Census), etc to drive business decisions.

• Company data

• Competitor data

• Government data

• Market research data

Identify the type of market research data based on the characteristics below:

Data that is collected by an outside agency to help understand more about the consumer perception of products, etc

• Company data

• Competitor data

• Government data

• Market research data

Marketing information management connects _______, ______, and the _____ to a firm through information.

• Consumers

• Customers

• Public

• Targeted demographic

How are sales forecasts calculated?

• A firm estimates the total market and then estimates their share of that market to determine a sales forecast of a particular product

• Includes distribution strategy, effective sales force, increased promotion, different prices

• Include a budget for sales/revenues, identifying new marketing strategies, setting a sales quotas for sales staff, etc

• All of the above

What might affect a sales forecast?

• A firm estimates the total market and then estimates their share of that market to determine a sales forecast of a particular product

• The distribution strategy, effective sales force, increased promotion, and different prices.

• Include a budget for sales/revenues, identifying new marketing strategies, setting a sales quotas for sales staff, etc

• All of the above

Why would a business use a sales forecast?

• A firm estimates the total market and then estimates their share of that market to determine a sales forecast of a particular product

• The distribution strategy, effective sales force, increased promotion, and different prices.

• To budget for sales/revenues, to identify new marketing strategies, to set a sales quotas for sales staff, etc

• All of the above