Sports and Entertainment Marketing 21

Data obtained from negative outcomes can help marketers to

avoid making the same mistakes in the future

The best source for data about the goods and services a company needs to buy for its own operation is its

vendors

Marketers use data to determine pricing strategies such as

when to offer a discount on the product

Which of the following is an example of a prediction

. Sales will be up four percent next quarter

Which of the following pieces of data give a wealth of information about a customer

A sales invoice

Which of the following is an example of a trade journal

Autoparts Report

Which of the following is a requirement for good decision making

Data

Which of the following is an example of data that marketers could gather from the company's sales team

How actual sales compare to sales goals

Which of the following is a "place" strategy that marketers devise using available data

How much of the product to create

Which of the following is a true statement about the wise use of available data

It creates more satisfied customers

Which of the following is a way that marketers can use data to "follow up" on any problems or issues with a product

Providing salespeople with additional training

Which of the following is not a common type of data used by marketers

Quote

Which of the following is a product strategy that marketers devise using available data

What level of customer service to provide

Which of the following is an example of a fact

b. Valentine's Day is on February 14

Marketers must use data to estimate costs for projects and allocate funds appropriately. This is known as

budgeting

A piece of easily observable data about a competitor is its

current promotional campaign

Quinn is getting ready to start college. Though she knows that the figure could change over time, she guesses that her four years in school will cost her around $65,000. This is an example of a(n

estimate

Marketers use data to determine that they want to create messages that appeal to a younger target market. This is part of an overall

promotional strategy

Providing salespeople with additional training

realistic.

Using data wisely can help a company save money by

running more efficiently