253) All of the following are advantages to using cross tabulations to organize and present
marketing data except which?
A) Cross tabulations can be used to summarize experimental data.
B) Cross tabulations clearly show the relationships between all the variables in a survey.
C) Cross tabulations can be used to summarize observational data.
D) Cross tabulations can be used to summarize questionnaire data.
E) Cross tabulations have great flexibility.
254) Analyzing the data obtained during the marketing research project and presenting the
results take place during which step of the five-step marketing research approach?
A) Collect relevant information.
B) Develop findings.
C) Take marketing actions.
D) Plan the budget.
E) Identify constraints.
255) Once a market researcher has defined the problem, developed the research plan, and
collected the relevant information, what is the next step in the five-step marketing research
approach?
A) Set budgets.
B) Determine target market.
C) Take marketing actions.
D) Develop findings.
E) Determine if there is a planning gap between desired findings and actual findings.
256) Making recommendations, implementing them, and evaluating results take place during
which step of the five-step marketing research approach?
A) Define the problem.
B) Take marketing actions.
C) Collect relevant information.
D) Develop findings.
E) Develop the research plan.
257) Evaluating the results of a marketing decision involves
A) asking prospective customers if they are likely to buy the product during a specified future
time period.
B) requesting the firm’s salespeople to estimate sales during a coming period.
C) collecting data from marketing experts about changes in the environment.
D) collecting projections from all regional sales managers and making projections based on a
region-to-region basis.
E) monitoring the marketplace to determine if action is necessary in the future.
258) Marketing teams must be vigilant in looking for ways to improve the analysis and results in
order to learn lessons that might apply to future marketing research efforts. Evaluating the results
of marketing research includes
A) asking prospective customers if they are likely to buy the product during some future time
period.
B) requesting the firm’s salespeople to forecast sales during a coming period.
C) determining if the marketing research and analysis used to develop the recommendations was
effective.
D) collecting projections from all regional sales managers and making projections based on a
region-to-region basis.
E) collecting data from marketing experts about changes in the environment.
259) The two aspects of the process for evaluating the results of a marketing decision are
evaluating the decision itself and
A) evaluating the sales results.
B) conducting a SWOT analysis.
C) evaluating the decision process used.
D) beginning a new environmental scan.
E) reallocating resources to become more efficient and effective.
260) The total sales of a product that a firm expects to sell during a specified time period under
specified environmental conditions and its own marketing efforts is referred to as the
A) prognostication.
B) sales forecast.
C) guesstimate.
D) marketing intuition.
E) market potential.
261) A sales forecast refers to
A) the total sales of a product that a firm expects to sell during a specified time period under
specified environmental conditions and its own marketing efforts.
B) sales goals based on past performances of individual sales representatives, used as motivation
for productivity among this staff.
C) the total sales from a product that could be generated with a hypothetical set of preferred
environmental forces.
D) the total industry sales generated by a product during a specified time period that results from
specified environmental conditions.
E) published information about competitors’ sales from the NAICS.
262) Which of the following is one of the three frequently used sales forecasting techniques?
A) heuristic prognostications
B) customer contracts
C) trade association experts
D) surveys of knowledgeable groups
E) empirical studies
263) A(n) ________ is a type of forecast that involves estimating the value to be forecast without
any intervening steps.
A) direct forecast
B) survey forecast
C) lost-horse forecast
D) lost-cause forecast
E) intention forecast
264) A direct forecast involves estimating the value to be forecast and
A) making decisions without any intervening steps.
B) halving the highest values and doubling the lowest values to determine an acceptable forecast
range.
C) selecting the alternative that holds the greatest consensus within the management team.
D) then conducting a sensitivity analysis to determine price elasticity.
E) selecting the forecasting alternative that would allow a firm to survive financially even if the
forecasts are incorrect.
265) A(n) ________ involves starting with the last known value of the item being forecast,
listing the factors that could affect the forecast, assessing whether they have a positive or
negative impact, and making the final forecast.
A) direct forecast
B) lost-horse forecast
C) buyers’ intentions forecast
D) indirect forecast
E) incremental forecast
266) Lost-horse forecasting involves
A) admitting that the actions you have taken in the past have failed and removing those and
similar actions from your list of alternatives.
B) starting with the last known value of the item being forecast, listing the factors that could
affect the forecast, assessing whether they have a positive or negative impact, and making the
final forecast.
C) making decisions without any intervening steps.
D) following a prescribed set of “directives” established before the research was even begun.
E) selecting the forecasting alternative that would allow a firm to survive financially even if the
forecasts were totally incorrect.
267) Sherrie sold about $800 worth of produce last weekend at a farmer’s market, but it was
sunny and warm both days. This Saturday and Sunday are both supposed to be rainy, so she
thinks fewer people will attend. She estimates she’ll only sell about three-fourths of her total for
last time, or $600. This is an example of a(n)
A) direct forecast.
B) lost-horse forecast.
C) buyers’ intentions forecast.
D) indirect forecast.
E) incremental forecast.
268) A survey of buyers’ intentions forecast involves
A) starting with the last known value of the item being forecast, listing the factors that could
affect the forecast, assessing whether they have a positive or negative impact, and making the
final forecast.
B) making decisions without any intervening steps.
C) asking prospective customers if they are likely to buy the product during some future time
period.
D) asking the firm’s salespeople to estimate sales during a coming period.
E) selecting the forecasting alternative that would allow a firm to survive financially even if the
forecasts were totally incorrect.
269) A salesforce survey forecast involves
A) starting with the last known value of the item being forecast, listing the factors that could
affect the forecast, assessing whether they have a positive or negative impact, and making the
final forecast.
B) making decisions without any intervening steps.
C) asking prospective customers if they are likely to buy the product during some future time
period.
D) asking the firm’s salespeople to estimate sales during a coming period.
E) selecting the forecasting alternative that would allow a firm to survive financially even if the
forecasts were totally incorrect.
270) Trend extrapolation involves
A) extending a pattern observed in past data into the future.
B) selecting specific points on a graph of sales or market share, multiplying by the cost of living
index, and allowing for a variation of plus or minus 3 percent.
C) averaging the total sales or market share for the previous five years and multiplying that
number by the expected GDP growth rate for the next year (say 1.5 percent) to arrive at the next
year’s forecast.
D) selecting a given percentage and using that number as a yearly predictive base regardless of
changes in sales, revenue, or market share.
E) collecting projections from all regional sales managers and making the final projection.
271) In trend extrapolation, the forecasting technique that involves using a straight line is called
A) causal analysis.
B) non-parametric regression.
C) planning gap analysis.
D) infinite dimension.
E) linear trend extrapolation.
272) Linear trend extrapolation is a form of trend extrapolation in which the
A) pattern changes from year to year.
B) pattern is always a straight line.
C) slope of the line is tied directly to profits.
D) shape of the pattern is a hyperbola.
E) pattern follows an S-shaped curve.
273) Figure 8-8 above depicts which type of statistical forecasting (line A)?
A) causal analysis
B) non-parametric regression
C) curvilinear extrapolation
D) infinite dimension
E) linear trend extrapolation