Transcript 4.06

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 marketinginformation 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.