WorksheetsData Do It
Total questions: 20
Worksheet time: 10mins
Which of The following is a requirement for good decision-making
A college degree
Money
Data
At least three options
Which of the following is not a common type of data used by marketers
Quote
Prediction
Estimate
Fact
Which of the following is an example of a fact
The economy should get better during the next decade
Valentine's Day is February 14
It could cost up to $20 million dollars to launch a new product
Junior year will be harder than sophomore year
Beth 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...
Quote
Sales report
Estimate
Fact
The following is an example of a prediction
About half of the businesses customers are female
The business owes $200,000 in taxes
Sales will be up 4% next quarter
Sales were up 4% last quarter
Which of the following is an example of data that marketers could gather from the company 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 the 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
The best source for data about the goods and services a company needs to buy for its own operation is it
Vendors
Sales team
Customers
competitors
Which of the following is an example of a trade journal
Newsweek
People
AutoParts Report
USA Today
Having appropriate data helps marketers set goals that are
Open ended
Realistic
General
Difficult
Which of the following is a product strategy that marketers devise using available data
Where to sell the product
What advertisements to run
How much to charge
What level of customer service to provide
Marketers use data to determine pricing strategies such as
How much to spend on advertising
How much of the product to create
Went to offer a discount on the product
What products to offer
Marketers use data to determine that they want to create messages that appeal to a younger target market. This is part of an overall
Place strategy
Promotional strategy
Product strategy
Pricing strategy
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
Went to change the products price
What market segment to target
Marketers must use data to estimate cost for projects and allocate funds appropriately. This is known as
Distributing
Promoting
Pricing
Budgeting
Which of the following is a way that marketers can use data to follow-up on any problems or issues with the product
Determining what new products to offer
Deciding what wholesalers to use for distribution
Providing sales people with additional training
Budgeting for product development
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 true statement about the wise use of available data
It increases market share
It doubles a businesses profits
It increases employee satisfaction
It creates more satisfied customers
Using data wisely can help the company save money by
Spending more money
Running more efficiently
Hiring fewer employees
Eliminating the competition
