Exam 8: Marketing Research, Decision Support Systems, and Sales Forecasting

Match each item to the statement or sentence listed below. a.marketing research b.exploratory research c.secondary data d.primary data e.sampling f.hypothesis g.nonprobability sample h.interpretative research i.focus group j.marketing decision support system k.sales forecast l.jury of executive opinion m.Delphi technique n.sales force composite o.trend analysis p.exponential smoothing q.marketing information system r.data mining s.mall intercept t.simple random sample u.cluster sample v.convenience sample w.controlled experiment -is the process of collecting and using information for marketing decision making.

What is an estimate of a firm's revenue for a specified future period is known as?

Which of the following is a type of nonprobability sample?

Interpretive research is useful in interpreting consumer behaviour in foreign cultures.

If you wanted to use a quantitative forecasting method that could be used to forecast sales of new products, what method would you select?

Which statement best describes primary data?

A syndicated service can also be considered a type of limited-service research supplier.

Observation alone cannot supply all the necessary information as it is difficult to get exact demographic information from observation.

Focus groups elicit information from the customers through a question-and-answer format.

Walmart prefers transaction records sorted by customer type, product, sales method, type of order, and order size. What is analyzing internal data sorted in this manner called?

Among the sources of external secondary data for research are consumer surveys and observations.

A marketing information system (MIS) is a part of a firm's overall management information system that deals specifically with marketing data and issues.

Antrix Corporation is a marketing research firm that specializes in data collection in shopping malls. This information indicates that Antrix Corporation is a full-service research supplier.

Planners apply qualitative sales forecasting techniques when they want judgmental or subjective indicators.

What is a limitation of secondary data not found in primary data?

What are the factors that need to be considered by marketers while creating a research design?

Sales analysis, financial data, and cost analysis are more valuable when used in conjunction with other marketing research information.

What is the total group of people that a researcher wants to study called?

Marketing research is the process of collecting data and using the information to back up the decisions that marketers have already made.

What is a Marketing Decision Support System (MDSS)? How does it take a Marketing Information System MIS one step further?