Capturing Marketing Insights - Quiz

1. Customer databases are used to:

Manage competitor analysis

Reduce product variety

Store detailed information on individual customers to track preferences and behavior

Focus only on supply chain management

2. Internal data sources for marketing insights include:

Sales records, inventory data, and financial reports

Competitor websites

Industry blogs

Social media analytics

3. Time-series analysis in demand forecasting relies on:

Historical sales data to predict future trends

Financial reports

Competitor data

Customer surveys

4. Quantitative forecasting methods are based on:

Statistical models and historical data

Customer opinions

Competitor strategies

Focus group discussions

5. Marketing information systems (MIS) collect and analyze:

Internal supply chain data

Customer and market information to assist decision-making

Only financial information

Employee data

6. The primary goal of collecting marketing information is to:

Focus solely on competitor actions

Understand customer needs and market dynamics

Reduce product prices

Hire new employees

7. Competitive intelligence focuses on:

Setting product prices

Gathering information about employee satisfaction

Reducing the number of product lines

Analyzing competitors’ strategies, strengths, and weaknesses

8. The Delphi method is a forecasting technique that:

Focuses solely on financial data

Collects expert opinions and refines them through multiple rounds of anonymous feedback

Uses customer feedback exclusively

Analyzes competitor pricing strategies

9. Sales forecasting helps companies:

Reduce customer engagement

Focus only on financial performance

Plan production, inventory, and marketing efforts based on expected demand

Increase production costs

10. A research hypothesis is:

A financial projection

A method for setting product prices

A proposed explanation made on the basis of limited evidence as a starting point for further investigation

A competitor analysis tool

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