Marketing management Exercises News October 20, 1997, p. A4; David Leonhardt, "Sara Lee: Playing with the Recipe, "Business Week, April 27, 1998, p. 114; Rance Crain, "Sara Lee Uses Smart Alternative to Selling Some Valuable Brands, "Advertising Age, September 22, 1997, p. 25; Warren Shoulberg, " Que Sara, Home Textiles Today, September 29, 1997, p. 70; and"Fashion Victim", The Economist, February 26,2000,p.73-7 1. While Sara Lee has recognized some key variables in the process of de aling with modern marketing, it could encounter problems as a pure marketing ("deverticalizing or decapitalizing") versus manufacturing and asset based firm that also engages in considerable marketing strategy and application. What are the implications of this and the options for Sara Lees future marketing strategy? Based on the current direction for Sara Lee, where do you expect they will be in the next 5-6 years? Will they be successful or not? Why?
Marketing Management Exercises 15 News October 20, 1997, p. A4; David Leonhardt, "Sara Lee: Playing with the Recipe," Business Week, April 27, 1998, p. 114; Rance Crain, "Sara Lee Uses Smart Alternative to Selling Some Valuable Brands," Advertising Age, September 22, 1997, p. 25; Warren Shoulberg, "Que Sara," Home Textiles Today, September 29, 1997, p. 70; and "Fashion Victim", The Economist, February 26, 2000, p. 73-74. 1. While Sara Lee has recognized some key variables in the process of dealing with modern marketing, it could encounter problems as a pure marketing ("deverticalizing" or "decapitalizing") versus manufacturing and asset based firm that also engages in considerable marketing strategy and application. What are the implications of this and the options for Sara Lee's future marketing strategy? 2. Based on the current direction for Sara Lee, where do you expect they will be in the next 5-6 years? Will they be successful or not? Why?
Marketing management Exercises Chapter 4 Gathering Information and Measuring Market Demand I Multiple choice consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. A. keting Intelligence System B. keting Information System C. Marketing Interchange System D. Management Information System 2. Which of the following is not a way in which companies can improve the quality of A. Allow salespeople to determine if information should be collected B. Motivate distributors, retailers, and other intermediaries to pass along important intelligence C. Collect information concerning competitors by buying their products 3. Which of the following would not be considered a source for secondary data when conducting research? A. Internal sources t Publi D. All of the above 4. Primary data can be obtained or collected in five ways. They are observation, focus groups, surveys, behavioral data, and what? A. Moody,' s manuals B. Profit and Loss Statements ExperimentsInvestigations Which of the following examples of mechanical devices could not be used to obtain data mechanically during marketing research? A. Galvanometers B. Altimeter Tachistoscope Eye camerasIn a sample, the population is divided into mutually exclusive groups (such as age groups), and random samples are drawn from each group A. Stratified Random B. RandomCluster Conve e Which of the following is not a step in the Marketing A. Analyze the Information B. Present the Findings Collect the Information All of the above Each of the following is a characteristic of good marketing research except which one? A. Scientific Method B. Multiple MethodsResearch Standardization Healthy SkepticismThe model shows the probability of moving from a current state to any future state such as in brand share studies A. Queuing
Marketing Management Exercises 16 Chapter 4 Gathering Information and Measuring Market Demand ⅠMultiple ChoiceA __________________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. A. keting Intelligence System B. keting Information System C. Marketing Interchange System D. Management Information System 2. Which of the following is not a way in which companies can improve the quality of their marketing intelligence? A. Allow salespeople to determine if information should be collected. B. Motivate distributors, retailers, and other intermediaries to pass along important intelligence. C. Collect information concerning competitors by buying their products. D. Set up customer advisory panels. 3. Which of the following would not be considered a source for secondary data when conducting research? A. Internal Sources B. Government Publications C. Periodicals and Books D. All of the above 4. Primary data can be obtained or collected in five ways. They are observation, focus groups, surveys, behavioral data, and what? A. Moody's Manuals B. Profit and Loss StatementsExperimentsInvestigationsWhich of the following examples of mechanical devices could not be used to obtain data mechanically during marketing research? A. Galvanometers B. AltimeterTachistoscopeEye camerasIn a _______________ sample, the population is divided into mutually exclusive groups (such as age groups), and random samples are drawn from each group. A. Stratified Random B. RandomClusterConvenienceWhich of the following is not a step in the Marketing Research Process? A. Analyze the Information B. Present the FindingsCollect the InformationAll of the aboveEach of the following is a characteristic of good marketing research except which one? A. Scientific Method B. Multiple MethodsResearch StandardizationHealthy SkepticismThe ____________ model shows the probability of moving from a current state to any future state such as in brand share studies. A. Queuing
Marketing management Exercises B. Markov-Process C. New Product Pretest D. Sales Response 10. The is the set of consumers who have interest. income and access to a particular offer A. Available Market B. Market C. Potential Market D. Reliable Market 11 for a product is 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 A. Geographical Demand B. Consumer Group Demand C. Environment demand D. Market Demand 12. Product penetration percentages look at the percentage of ownership or use of a product or service in a population. Companies assume that the product percentage, the the market potential, although this assumes that everyone will eventually be in the market for every product A. higher; lower B. smaller; more equal C. lower; higher 13. Area Market Potential is used to estimate each of the following areas except which one? A. Different cities B. Different companies C. Different counties D. Different countries 14. Companies use a three-stage process to prepare a sales forecast. What is the three-stage process(in order)? A. Macroeconomic forecast, industry forecast, company sales forecast B. Industry forecast, macroeconomic forecast, company sales forecast C. Industry forecast, company sales forecast, macroeconomic forecast D. Company sales forecast, macroeconomic forecast, industry forecast 15. Which of the following would not be a good example of an expert opinion of how a certain class might be at Clemson University? A. The Instructor B. The Student C. The Department Head over that course D. The sheriff II True or false
Marketing Management Exercises 17 B. Markov-Process C. New Product Pretest D. Sales Response 10. The __________________ is the set of consumers who have interest, income, and access to a particular offer. A. Available Market B. Market C. Potential Market D. Reliable Market 11. ___________________ for a product is 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. A. Geographical Demand B. Consumer Group Demand C. Environment Demand D. Market Demand 12. Product penetration percentages look at the percentage of ownership or use of a product or service in a population. Companies assume that the ___________ the product percentage, the ____________ the market potential, although this assumes that everyone will eventually be in the market for every product. A. higher; lower B. smaller; more equal C. lower; higher D. more equal; smaller 13. Area Market Potential is used to estimate each of the following areas except which one? A. Different cities B. Different companies C. Different counties D. Different countries 14. Companies use a three-stage process to prepare a sales forecast. What is the three-stage process (in order)? A. Macroeconomic forecast, industry forecast, company sales forecast B. Industry forecast, macroeconomic forecast, company sales forecast C. Industry forecast, company sales forecast, macroeconomic forecast D. Company sales forecast, macroeconomic forecast, industry forecast 15. Which of the following would not be a good example of an expert opinion of how a certain class might be at Clemson University? A. The Instructor B. The Student C. The Department Head over that course D. The Sheriff ⅡTrue or False
Marketing management Exercises 1. A marketing information system consists entirely of the computer systems, software and data used to make marketing decisions. (F 2. Marketing intelligence system is a set of procedures and sources used by managers to obtain very technical information about developments in the marketing environment. (F) 3. Internal sources of information could nclude company profit and loss statements balance sheets, and sale figures. T) 4. Most large companies rely heavily on outside market research firms instead of developing their own internal research departments, thus saving money.(F) 5. Custom marketing research firms are hired to carry out specific projects for a company 6. Primary data are data freshly gathered for a specific purpose or for a specific research 7. Afocus group is a gathering of six to ten people who are invited to spend a few hours with a skilled moderator to discuss a product, service, organization, or other marketing entity. They are normally paid a small sum to participate. T) 8. Closed-end questions allow respondents to answer in their own words and often reveal more about how people think. (F) 9. Depth interviewing involves going deeply into the thoughts that an individual may have about a product or service. T 10. In an arranged interview, the respondents are contacted for an appointment to do the interview. D) 11. The last step of the marketing research process is where researchers apply some advanced statistical techniques and decision models to the data received.(F) 12. A potential market is the set of all actual and potential buyers of a market offering. (F) 13. Product penetration percentage is the percentage of ownership or use of a product or service in a population. T) 14. The North American Industry Classification System(NAICS) was developed by the United States, Canada, and Nova Scotia. (F) 15. A purchase probability scale is used to inquire into only the customers' present personal finances and expectations of the economy.(F) LeSsay Questions 1. You own a skateboard production company. Give an example of how your company might use the components of the Order-to-Payment Cycle to process orders for your 2. State six ways, or steps, that were discussed, that a company might take to improve the quality of its marketing intelligence 3. Describe each of the steps involved in the Marketing Research Process Ⅳ MArketing Spotlight
Marketing Management Exercises 18 1. A marketing information system consists entirely of the computer systems, software, and data used to make marketing decisions.(F) 2. A marketing intelligence system is a set of procedures and sources used by managers to obtain very technical information about developments in the marketing environment.(F) 3. Internal sources of information could include company profit and loss statements, balance sheets, and sale figures.(T) 4. Most large companies rely heavily on outside market research firms instead of developing their own internal research departments, thus saving money. (F) 5. Custom marketing research firms are hired to carry out specific projects for a company. (T) 6. Primary data are data freshly gathered for a specific purpose or for a specific research project. (T) 7. A focus group is a gathering of six to ten people who are invited to spend a few hours with a skilled moderator to discuss a product, service, organization, or other marketing entity. They are normally paid a small sum to participate. (T) 8. Closed-end questions allow respondents to answer in their own words and often reveal more about how people think. (F) 9. Depth interviewing involves going deeply into the thoughts that an individual may have about a product or service. (T) 10. In an arranged interview, the respondents are contacted for an appointment to do the interview. (T) 11. The last step of the marketing research process is where researchers apply some advanced statistical techniques and decision models to the data received. (F) 12. A potential market is the set of all actual and potential buyers of a market offering. (F) 13. Product penetration percentage is the percentage of ownership or use of a product or service in a population. (T) 14. The North American Industry Classification System (NAICS) was developed by the United States, Canada, and Nova Scotia. (F) 15. A purchase probability scale is used to inquire into only the customers' present personal finances and expectations of the economy. (F) ⅢEssay Questions 1. You own a skateboard production company. Give an example of how your company might use the components of the Order-to-Payment Cycle to process orders for your customers. 2. State six ways, or steps, that were discussed, that a company might take to improve the quality of its marketing intelligence. 3. Describe each of the steps involved in the Marketing Research Process. ⅣMarketing Spotlight
Marketing management Exercises Knowledge Network Marketing research firm Knowledge Networks was founded by two Stanford University professors in 1998. The company is one of the leaders in the emerging field of Internet research. It boasts an online panel of more than 100,000 consumers connected via WebTV interactive television boxes. In order to approximate a cross-section of the U.s. population, Knowedge Networks uses "random digit dialing "phone surveys -which give each household in the U.S. an equal probability of selection -to fill its panel. The Web TV survey system has the advantage of allowing panelists to respond at their convenience, as opposed to phone surveys. Interactive televisions operate with a remote control in exactly the same fashio normal TVs, so Intemet literacy is not required for participation in Knowledge Networks research. The Web TV sets also enable Knowledge Networks to test advertising for companies in a realistic setting, by simulating commercial television viewing. The network of panelists enables the company to pursue its mission: To help companies transform their markets by providing valid, timely, and cost-efficient inf omation about consumers Knowledge Networks sends Web surveys to its panel to determine their attitudes toward commercial products and their opinions on public issues. The company also monitors its panelists'in-home media intake and their purchase behaviors, which allows the company to track spending as it relates to marketing messages. For example, a company making computers could use the results of Knowedge Networks surveys to determine the ideal target audience for a new product Kno wedge Networks could tell the computer company what television shows and websites the target audience viewed most often, and the computer company could then buy advertising accordingly. Finally, Knowledge Networks would track if the target audience saw the advertising and then correlate this with the purchase rate of the product among the target audience. In addition to product and advertising testing, Knowledge Networks conducts Web surveying. The company conducted numerous polls during the 2000 election season for CBS News and the Washington Post, and even did a lighthearted poll after the tv show Survivor finale Additionally, Knowledge Networks keeps consumer profiles with over 1,000 data points updated weekly for all its panelists, which companies can access to lean about potential customers. The company seeks to become a one-stop marketing research company, performing television-and Internet-usage tracking studies, brand management diagnostics and tracking, product and advertising evaluations, and traditional survey applications Knowedge Networks claims this comprehensive research coverage yields a 360-degree view uts. such as advertis factors that affect consumers Observing and analyzing how consumers process these stimuli and how, in turn, this Tracking what action consumers take in response to their experience of these stimuli
Marketing Management Exercises 19 Knowledge Network Marketing research firm Knowledge Networks was founded by two Stanford University professors in 1998. The company is one of the leaders in the emerging field of Internet research. It boasts an online panel of more than 100,000 consumers connected via WebTV interactive television boxes. In order to approximate a cross-section of the U.S. population, Knowledge Networks uses "random digit dialing" phone surveys – which give each household in the U.S. an equal probability of selection – to fill its panel. The WebTV survey system has the advantage of allowing panelists to respond at their convenience, as opposed to phone surveys. Interactive televisions operate with a remote control in exactly the same fashion as normal TVs, so Internet literacy is not required for participation in Knowledge Networks research. The WebTV sets also enable Knowledge Networks to test advertising for companies in a realistic setting, by simulating commercial television viewing. The network of panelists enables the company to pursue its mission: "To help companies transform their markets by providing valid, timely, and cost-efficient information about consumers." Knowledge Networks sends Web surveys to its panel to determine their attitudes toward commercial products and their opinions on public issues. The company also monitors its panelists' in-home media intake and their purchase behaviors, which allows the company to track spending as it relates to marketing messages. For example, a company making computers could use the results of Knowledge Networks surveys to determine the ideal target audience for a new product. Knowledge Networks could tell the computer company what television shows and websites the target audience viewed most often, and the computer company could then buy advertising accordingly. Finally, Knowledge Networks would track if the target audience saw the advertising, and then correlate this with the purchase rate of the product among the target audience. In addition to product and advertising testing, Knowledge Networks conducts Web surveying. The company conducted numerous polls during the 2000 election season for CBS News and the Washington Post, and even did a lighthearted poll after the TV show Survivor finale. Additionally, Knowledge Networks keeps consumer profiles with over 1,000 data points updated weekly for all its panelists, which companies can access to learn about potential customers. The company seeks to become a one-stop marketing research company, performing television- and Internet-usage tracking studies, brand management diagnostics and tracking, product and advertising evaluations, and traditional survey applications. Knowledge Networks claims this comprehensive research coverage yields a "360-degree view of the consumer" by: • Capturing and recording marketing inputs, such as advertising, and environmental factors that affect consumers • Observing and analyzing how consumers process these stimuli and how, in turn, this shapes their thoughts, attitudes, and feelings • Tracking what action consumers take in response to their experience of these stimuli