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ENT I 5.06 Quiz
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Questions in this quiz (17)
1Businesses often select marketing metrics that will help them compare current market share with which factor?
- AMarket potential
- BInventory turnover
- CBrand recognition
- DTransaction size
2In which situation should a business lower its sales forecast for the coming year?
- APopulation will increase by 5%.
- BMajor competitor will leave the market.
- CPrices of raw materials will remain steady.
- DInflation rate is expected to rise 2%.
3Which is an example of an external change that could affect sales forecast of a business?
- AA new sales rep has been hired to develop the territory of the business in Texas.
- BThe population of a town increases when a new hospital opens in the community.
- CThe company plans to modify its approach to mailing catalogs to customers.
- DA company plans to raise prices on its products.
4What do businesses often take into consideration when forecasting sales for marketing plans?
- AThe market share of competitors
- BQuotas for salespeople
- CLocation of regional territories
- DThe profit goals of a company
5The marketing objectives that a business develops for its marketing plan should lead to which situation?
- AAn increase in sales
- BAn increase in prices
- CA decrease in costs
- DA decrease in taxes
6One reason why businesses select marketing metrics is to use them as which function?
- AMeasurement tool
- BOperating strategy
- CPromotional activity
- DSelling procedure
7By setting marketing objectives, businesses are specifying which information?
- AWhat they want to achieve.
- BHow they intend to make a profit.
- CWhat price they plan to charge.
- DHow they intend to advertise.
8When do businesses usually set its marketing budget?
- ABefore segmenting customers
- BBefore analyzing markets
- CAfter identifying standards
- DAfter determining objectives
9Forecasting sales for market plans is important because the forecast is used as which component?
- AType of research
- BStandard of measurement
- CMethod of communication
- DCompilation of data
10Which individual would a business be most likely ask for a prediction of sales for next year?
- AFinancial planner
- BInventory specialist
- CAccounting clerk
- DExperienced salesperson
11Which is an example of an effective marketing objective that a business might set?
- AIdentify new local vendors
- BHire additional salespeople
- CDecrease the level of spending
- DIncrease profit by 6% next year
12What does a business need to consider when developing a marketing budget?
- ACosts of performing marketing activities
- BForecasts of future sales figures
- CValue of spending money on advertising
- DExpense associated with offering credit
13The marketing metrics that businesses select should relate directly to which part of the marketing plan?
- ADemographics
- BOrganization
- CObjectives
- DEnvironment
14Which is the primary reason for establishing a marketing budget that helps a business?
- ATo reduce tax liability
- BTo monitor fixed assets
- CTo manage depreciation
- DTo control spending
15Why is it important for businesses to include specific time frames when setting marketing goals and objectives?
- AAllows the business to identify the market
- BHelps the business predict the future
- CGuides the business in hiring more staff
- DKeeps the business focused on the goal
16When a business allocates a certain amount of money in relation to the amount of goods and services that it sold the previous year, it is setting its marketing budget by which information?
- AThe percentage of sales method
- BThe review of industry standards
- CThe consideration of activities of competitors
- DThe bids for various marketing activities
17The MSV Company developed a sales forecast by considering the opinions of industry experts. This is an example of which sales forecasting method?
- AIndustrial
- BConditional
- CQualitative
- DQuantitative
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- ENT I 5.06 Quiz
- Author
- Chad Collins
- Language
- English
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