Skyler. 7: What is an internal source of marketing information for a business? A: Government planning agencies B: Inventory records C: Public libraries.

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Presentation transcript:

Skyler

7: What is an internal source of marketing information for a business? A: Government planning agencies B: Inventory records C: Public libraries D: Trade journals

8: In planning marketing activities and in making marketing decisions, marketersuse a variety of data gathered by a(n) A: inventory control system B: double-entry bookkeeping system C: file of employee records D: marketing-information management system

10: Your company has asked you to make recommendations for new hardware and software to replace the existing marketing- information system. What should you recommend? A: The largest system available for future expansion B: Software that is secure and accessible only to you C: Software that decision makers can use with minimum training D: Software that everyone in the company can use to collect and process data

37: Which characteristics of useful marketing information is represented by the statement “The benefits of using the information should be greater than the expense of gathering the data used to generate this information”? A: Timeliness B: Accessibility C: Relevancy D: Cost-effectiveness

Answer D: Cost-effectiveness Marketing information must provide greater benefits to the user than the expense of gathering the data used to generate this information. If the marketing information cannot provide greater benefits to the user, then the corresponding data are not worth gathering or processing. Timely data and information are up-to-date, so the data must be gathered at a time when they will be of the most value to the business. Accessible information is readily available so that it can be used without major effort or excessive cost. Marketing information should be relevant- closely related to the situation at hand

36: What is an example of marketing information that a business could gather by surveying its customers? A: Planned product improvements B: The company’s current market share C: Location of the company’s market D: Financial status of competitors

Answer C: Location of the company’s market. By surveying customers, the business can determine where the people who are interested in buying its products are located. Information about the company’s market share and plans to improve current products can be obtained from the company’s own records. The financial status of competitors is only available if they operate as a corporation and must report their finances to shareholders, or they are in a situation that requires them to disclose their financial recouses.