mktg

Question 1

consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

Answer 1

marketing information system

Question 2

• What decisions do you regularly make?
• What information do you need to make these decisions?
• What information do you regularly get?
• What studies do you periodically request?
• What information would you want that you are not getting now?
• What are the four most helpful improvements that could be made in the present marketing information system?

Answer 2

information needs probes

Question 3

• Order-to-payment cycle
• Sales information system
• Databases, warehousing, data mining
• Marketing intelligence system

Answer 3

Internal Records and Marketing Intelligence

Question 4

a set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment.

Answer 4

marketing intelligence system

Question 5

• Train sales force to scan for new developments
• Motivate channel members to share intelligence
• Hire external experts to collect intelligence
• Network externally
• Utilize a customer advisory panel
• Utilize government data sources
• Purchase information

Answer 5

Steps to Quality Marketing Intelligence

Question 6

• Independent customer goods and service review forums
• Distributor or sales agent feedback sites
• Combination sites offering customer reviews and expert opinions
• Customer complaint sites
• Public blogs

Answer 6

Sources of Competitive Information

Question 7

Fad
Trend
Megatrend

Answer 7

needs and trends

Question 8

Demographic
Political-legal
Economic
Technological
Socio-cultural
Natural

Answer 8

Major Forces in the
Environment

Question 9

Population and
Demographics

Answer 9

• Population growth
• Population age mix
• Ethnic markets
• Educational groups
• Household patterns

Question 10

Consumer Psychology
Income Distribution
Income, Savings, Debt, Credit

Answer 10

Economic Environment

Question 11

• Subsistence economies
• Raw-material-exporting economies
• Industrializing economies
• Industrial economies

Answer 11

Income Distribution

Question 12

The set of consumers with a
sufficient level of interest in a market
offer.

Answer 12

Potential Market

Question 13

The set of consumers who have
interest, income, and access to a particular
offer.

Answer 13

Available Market

Question 14

The part of the qualified available
market the company decides to pursue.

Answer 14

Target Market

Question 15

The set of consumers who are buying
the company’s product.

Answer 15

Penetrated Market

Question 16

the total volume that
would be bought by a defined customer
group in a defined geographical area in
a defined time period in a defined
marketing environment under a defined
marketing program.

Answer 16

Market Demand

Question 17

Two extreme types of market

Answer 17

Expansible and Non Expansible Market

Question 18

affected in size by the level of industry marketing expenditures

Answer 18

Expansible market

Question 19

not much affected
by the level of marketing expenditures

Answer 19

Non-Expansible Market

Question 20

the level of primary demand
for the product class

Answer 20

Market Size

Question 21

Comparing current and potential market
shares yields a firm’s

Answer 21

Share penetration index

Question 22

if the index is ____, the company can greatly expand its shares.

Answer 22

low

Question 23

The level of industry marketing
expenditure that will occur. The market
demand corresponding to this level.

Answer 23

Market Forecast

Question 24

The market forecast shows expected
market demand, not maximum market
demand.

Answer 24

market potential

Question 25

the limit approached by market demand as
industry marketing expenditures
approach infinity for a given marketing
environment.

Answer 25

Market Potential

Question 26

A common way to estimate total market
potential

Answer 26

multiply the potential number
of buyers by the average quantity each
purchases, times the price.

Question 27

the percentage of ownership or use of a
product or service in a population.

Answer 27

Product-penetration percentage

Question 28

the company’s
estimated share of market demand at
alternative levels of company
marketing effort in a given time
period.

Answer 28

company demand

Question 29

The expected level of company sales based on a chosen marketing plan and an assumed
marketing environment.

Answer 29

COMPANY SALES FORECAST

Question 30

The sales goal set for a product line,
company division, or sales
representative.

Answer 30

Sales Quota

Question 31

managerial device for defining and
stimulating sales effort, often set slightly
higher than estimated sales to stretch the
sales force’s effort.

Answer 31

Sales Quota

Question 32

A conservative estimate of the expected
volume of sales, primarily for making current purchasing, production, and cash flow decisions Based on the need to avoid excessive risk and is generally set slightly lower than the sales forecast.

Answer 32

Sales Budget

Question 33

Area Market Potential Two major methods:

Answer 33

Market-buildup method & Multiple-factor index method

Question 34

used primarily by business marketers.

Answer 34

Market-buildup method

Question 35

used primarily by consumer

Answer 35

Multiple-factor index method