Top Ten Learning questions for Chapter 3

TOP 10 Learning Questions for

Chapter 3: Gathering Information

and Scanning the Environment

Andrei John CantillepsSeptember 23, 2010

1. A _______ is a direction or sequence of events that has some momentum and durability; are more predictable and durable than fads.

A. PatternB. TrendC. ForecastD. Market flow

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Analyzing the Macroenvironment

Successful companies recognize and respond profitably to unmet needs and trends

Enterprising individuals and companies manage to create new solutions to unmet needs.

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A trend reveals the shape of the future and provides many opportunities; sequence of events that has some momentum and durability.

Successful companies recognize and respond profitably to unmet needs and trends

Enterprising individuals and companies manage to create new solutions to unmet needs.

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1. A _______ is a direction or sequence of events that has some momentum and durability; are more predictable and durable than fads.

A. PatternB. TrendC. ForecastD. Market flow

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2. A marketing information system consists of ______, __________, and ___________ to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

A. managers, networks, process B. people, equipment, procedures C. procedures, process, people D. managers, equipment, procedures

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Components of a Modern Marketing Information System

Every manager in an organization needs to observe the outside environment; with the discipline methods for collecting information.

The company’s marketing information system should be a cross between what managers think they need, what they really need and

A Marketing information system, consists of people, equipment and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers. Companies with superior information

enjoy a competitive advantage. They can choose their markets better,

develop better offerings and Execute better marketing plan.

2. A marketing information system consists of ______, __________, and ___________ to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

A. managers, networks, process B. people, equipment, procedures C. procedures, process, people D. managers, equipment, procedures

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3. Within the rapidly changing global picture, the firm must monitor six major forces: except for:

A. demographic forcesB. religious forces C. political – legal forces D. economic forces

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Environmental Forces

Demographic

Economic

Socio Cultural

Natural

Technological

Political-Legal

These forces represents “uncontrollable”, which the company must monitor and to which it must respond

Demographic

Economic

Socio Cultural

Natural

Technological

Political-Legal

3. Within the rapidly changing global picture, the firm must monitor six major forces: except for:

A. demographic forcesB. religious forces C. political – legal forces D. economic forces

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4. Six environmental major forces a company must monitor are:

A. demographic, religious, socio-cultural, natural, technological, and political-legal

B. demographic, economic, socio-cultural, natural, technological, and political-legal

C. demographic, socio-cultural, religious, natural, technological, and political-legal

D. demographic, economic, socio-cultural, technological, religious, and political-legal

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Environmental Forces

Demographic

Economic

Socio Cultural

Natural

Technological

Political-Legal

These forces represents “uncontrollable”, which the company must monitor and to which it must respond

Demographic

Economic

Socio Cultural

Natural

Technological

Political-Legal

4. Six environmental major forces a company must monitor are:

A. demographic, religious, socio-cultural, natural, technological, and political-legal

B. demographic, economic, socio-cultural, natural, technological, and political-legal

C. demographic, socio-cultural, religious, natural, technological, and political-legal

D. demographic, economic, socio-cultural, technological, religious, and political-legal

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5. Which of the following is true?

A. A marketing information system relies on internal company policy.

B. A marketing information system relies on internal company records.

C. A marketing information system relies on internal marketing policy

D. A marketing information system relies on internal marketing records.

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Components of a Modern Marketing Information System

Every manager in an organization needs to observe the outside environment; with the discipline methods for collecting information.

The company’s marketing information system should be a cross between what managers think they need, what they really need and

Internal Records and Marketing Intelligence

Marketing managers rely on their internal reports of orders, sales, prices, costs, inventory levels, receivables, payables and so on.

By analyzing this information, they can spot important opportunities and problems.

5. Which of the following is true?

A. A marketing information system relies on internal company policy.

B. A marketing information system relies on internal company records.

C. A marketing information system relies on internal marketing policy

D. A marketing information system relies on internal marketing records.

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6. Internal Records and Marketing Intelligence rely on the following except:

A. Order to payment cycle B. Sales Information System C. Internal marketing policy D. Marketing Intelligence System

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Internal Records and Marketing Intelligence

Order–to–Payment

Cycle

Database,Warehousing,Data Mining

SalesInformation

System

MarketingIntelligence

System

Internal Records and Marketing Intelligence

• The heart of the internal records system is the order-to-payment cycle.• An increasing number

of companies are using the internet and extranets to improve the speed, accuracy and efficiency of the order-to-payment cycle

Order–to–Payment

Cycle

Internal Records and Marketing Intelligence

Database,Warehousing,Data Mining

• Companies warehouse these data and make them easily accessible to decision makers.• they hire analysts to

“mine” the data and garner fresh insights from the useful information.

• Today companies organize their information into database and then combine data from the different database.

Internal Records and Marketing Intelligence

SalesInformation

System

• Technological gadgets are revolutionizing sales information systems allowing representatives to have up-to-the-second information.• Companies must

carefully interpret the sales data so as not to draw the wrong conclusions.

Internal Records and Marketing Intelligence

MarketingIntelligence

System

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

intelligence supplies happening data

6. Internal Records and Marketing Intelligence rely on the following except:

A. Order to payment cycle B. Sales Information System C. Internal marketing policy D. Marketing Intelligence System

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7. The heart of the internal records system is the ___________________:

A. Databases, Warehousing, Data MiningB. Sales Information SystemC. Order to payment cycle D. Marketing Intelligence System

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Internal Records and Marketing Intelligence

Order–to–Payment

Cycle

Database,Warehousing,Data Mining

SalesInformation

System

MarketingIntelligence

System

Internal Records and Marketing Intelligence

• The heart of the internal records system is the order-to-payment cycle.• An increasing number

of companies are using the internet and extranets to improve the speed, accuracy and efficiency of the order-to-payment cycle

Order–to–Payment

Cycle

7. The heart of the internal records system is the ___________________:

A. Databases, Warehousing, Data MiningB. Sales Information SystemC. Order to payment cycle D. Marketing Intelligence System

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8. One of the most dramatic forces shaping people lives is _______:

A. Political Environment B. Economic Environment C. Technological Environment D. Social-Cultural Environment

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Internal Records and Marketing Intelligence

Demographic

Economic

Natural

Political-legal

Technological

Demographic

Internal Records and Marketing Intelligence

Technological

• Through the years, technology has released such wonders as penicillin, open-heart surgery, and birth control pill.

• The number of major new technologies we discovered affects the economy’s growth rate.

8. One of the most dramatic forces shaping people lives is _______:

A. Political Environment B. Economic Environment C. Technological Environment D. Social-Cultural Environment

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9. The following are steps to improve Marketing Intelligence, which one is false?

A. Train sales force to scan for new developments

B. Motivate channel members to share intelligence

C. develop support group for new marketing trends.

D. Network externally

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Steps to improve Marketing Intelligence

Train sales force to scan for new developments

Motivate channel members to share intelligence

Network Externally

Utilize a customer advisory panel

Utilize government data resources

Purchase Information

Collect customer feedback online

Steps to improve Marketing Intelligence

• A Marketing intelligence system is a set of procedures and sources

managers use to obtain everyday information about developments in

the marketing environment.• Marketing managers collect

marketing intelligence by reading books, newspapers, and

trade publications;

9. The following are steps to improve Marketing Intelligence, which one is false?

A. Train sales force to scan for new developments

B. Motivate channel members to share intelligence

C. develop support group for new marketing trends.

D. Network externally

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10. Which of the following is true about worldwide population growth?

A. Explosive population growth has minor implications for business.

B. Population growth hasn’t been a source of major concern.

C. Population growth is highest in countries and communities that can least afford it.

D. A growing population means growing market.

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Population and DemographicsMarketers pay attention to these interactions because it lead to new opportunities and threats

Population growth Population age

mix Ethnic markets

Educational groups

Household patterns

Geographical shifts

Population and DemographicsMarketers pay attention to these interactions because it lead to new opportunities and threats

Population growth The population explosion has been a source of major concern.

Population growth is highest in countries and communities that can least afford it.

10. Which of the following is true about worldwide population growth?

A. Explosive population growth has minor implications for business.

B. Population growth hasn’t been a source of major concern.

C. Population growth is highest in countries and communities that can least afford it.

D. A growing population means growing market.

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TOP 10 Learning Questions for

Chapter 3: Gathering Information

and Scanning the Environment

Andrei John CantillepsSeptember 23, 2010