Marketing Data 1.06

Which of the following is a requirement for good decision making:

• A college degree

• At least three options

• Money

• Data

Which of the following is an example of a prediction:

• About half of the business’s customers are female.

• The business owes $200,000 in taxes.

• Sales will be up four percent next quarter.

• Sales were up four percent last quarter.

Which of the following are common types of data used by marketers:

• Facts, predictions, estimates

• Predictions, estimates, quotes

• Quotes, facts, testimonials

• Quotes, testimonial, estimates

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

The best source for data about the goods and services a company needs to buy for its own operation is its

• Vendors

• Sales team

• Customers

• Competitors

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

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

A piece of easily observable data about a competitor is its

• Current promotional campaign.

• Products in development.

• Sales reports.

• Future plans.

Having appropriate data helps marketers to set goals that are

• Open-ended

• Realistic

• General

• Difficult

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.