biology 333 test 2

Every year, Westview Marble goes through the process of estimating sales for the upcoming year by looking at the company's previous years' sales and market sales along with economic trends and predictions by experts. This process of predicting sales totals over a specific time period is called ____.

c. sales forecasting

A researcher who is interested in new car sales discovers that the secondary data are in the form of statistics that include both car and light truck sales combined. What criterion have the data failed to meet?

a. The data should be in the correct unit of measurement.

Which activity involves mining data to look for patterns identifying who is likely to be a valuable customer?

a. customer discovery

When a marketing manager reads publications like The Wall Street Journal and Business Week to try to determine changes in consumer behavior, the manager is best described as engaging in ____.

a. environmental scanning

All of the following are producers of external secondary data EXCEPT ____.

a. libraries

The observation and analysis of trends in industry volume and brand share over time is called ____.

a. market tracking

Many companies use powerful computers to dig through volumes of data to discover patterns about their customers and products. This activity is called data ____.

a. mining

Kyle is conducting a sales forecast by adding up his company's sales over the past five years and then dividing that by five (the number of years). The forecasting technique he is using is called ____.

a. moving average forecasting

When Subway Sandwiches uses secondary data to determine the best location for its franchise outlets, they are engaged in ____.

a. site analysis

One disadvantage of secondary data is that ____.

a. the user has no control over their reliability and validity

All of the following are examples of internal secondary data EXCEPT:

b. U.S. Census data

Buying new-car purchase data by zip code from the Polk Company is an example of the use of a(n) ____.

b. commercial source

When a researcher compares secondary data from one source with data from another source, the researcher is doing a(n) ____.

b. cross-check

Tracking monthly sales trends over the past year is best described as an example of ____.

b. fact-finding

A(n) ____ network is a form of artificial intelligence in which a computer is programmed to mimic the way that people process information.

b. neural

Secondary data that are owned and controlled by the organization are best called ____.

b. proprietary data

Which term is used by the marketing research industry to refer to diverse types of data offered by a single company?

b. single-source data

All of the following are common reasons why secondary data do not adequately satisfy research needs EXCEPT ____.

b. too expensive

The population of a city is 230,000 and its annual per person expenditure on athletic shoes is $45. If there are 64,688 square feet of retail space used to sell athletic shoes in this city, its index of retail saturation is ____.

c. 159.99

A credit card company uses information about each customer's age, gender, income, and past credit history to find patterns that make customers a poor credit risk. This company is using ____.

c. customer discovery

Shawn is interested in average monthly sales for automobiles in Memphis, TN. He found information on the Internet that gives annual automobile sales by cities, so he took the annual sales for Memphis and divided it by twelve to get a monthly average for that city. This is an example of ____.

c. data transformation

The practice of using databases to promote one-to-one relationships with customers and create precisely targeted promotions is called ____.

c. database marketing

Which index describes the relationship between retail demand and supply?

c. index of retail saturation

Asking a group of households to record their consumption of certain products over a two-year period is an example of ____.

d. diary panel data

Data purchased from a company such as NPD Group, Inc. on the consumption of frozen pizza in the U.S. is most likely going to be used for ____.

d. fact-finding

Bath and Body Works is a retail chain of bath and home fragrance products. Before entering a new geographic area, the company develops an index consisting of a ratio of local market potential in dollars (demand) to local market retailing space in square feet. If this ratio is below a predetermined level, the site is not considered further. However, if this ratio is greater than that level, further site-selection analyses are performed. This index is called the ____.

d. index of retail saturation

Many retailers mine the databases provided by checkout scanners to identify coinciding purchases or relationships between products purchased and other retail shopping information. This type of analysis is referred to as ____.

d. market-basket analysis

Lance has noticed that companies that advertise a lot seem to have higher sales than those that do not. His use of secondary data to help specify this relationship is an example of ____.

d. model building

Which type of data cannot be purchased (legally and ethically) from commercial sources?

d. proprietary research and development data

Obtaining secondary data is typically ____ and ____ expensive than obtaining primary data.

faster; less