Exam 6: Measuring Market Opportunities: Forecasting and Market Knowledge

Mention the steps required for building or accessing marketing databases for CRM purposes.

Describe the five categories of adopters.

Under the _____ approach,each part of the firm prepares its own sales forecast and the parts are aggregated to create the forecast for the firm as a whole.

Frieda owns a retail showroom for watches.She uses her intuition to forecast the demand that her shop will have for different brands and varieties.Identify the forecasting tool that Frieda is using.

The diffusion process is faster when there is strong competition and competitors have favorable reputations.

_____ systems track what is selling,how fast,in which locations,and to which customers.

Performing live test markets is highly expensive.

Competitive intelligence is a systematic and ethical approach for gathering and analyzing information about competitors' activities and related business trends.

Big Bite is an American restaurant chain that sells sandwiches and burgers.The company decides to introduce a new sandwich in some of their outlets to test its potential.Identify the forecast tool that Big Bite is using in this case.

What type of research is best suited to measure a population's attitudes and likely responses to products or marketing programs?

Name each step of the marketing process and explain what could go wrong at each step.

The advantage of surveys conducted by fax,e-mail,or over the Internet is that the researcher knows who actually replied to the survey.

The commonly used market knowledge systems on which companies rely to keep pace with daily developments include internal records regarding marketing performance,marketing databases,competitive intelligence systems,and systems to organize client contact.

Under the bottom-up approach,a central person or persons take the responsibility for forecasting and preparing an overall forecast.

A customer center executive can handle only 30 customers in a day.This is an example of a(n)_____.

A major bank is considering installing ATMs at all locations of a grocery store chain.What evidence-based forecasting tools would be appropriate to use and how?

Accounting systems regularly track such aspects as what is selling,how fast,in which locations,and to which customers.

_____ is a systematic and ethical approach for gathering and analyzing information about competitors' activities and related business trends.

A restaurant conducts customer surveys to determine customer satisfaction.In one of the surveys,they use questions that rate dishes on a scale from "brilliant" to "bad." This is an example of _____ scale.

A start-up company wants to determine who their key competitors are.In the marketing research process,this is termed as a _____.