Objective 1.05 Review Questions

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Objective 1.05 Review Questions

What type of internal report would indicate to a business that sales for a specific product have dramatically dropped over the past three months? A. Market demographics analysis B. Accounts-payable summary C. Annual income statement D. Quarterly inventory status

What is one way that many businesses use the marketing information contained in sales reports? A. To monitor expense accounts B. To qualify potential new customers C. To improve the effectiveness of salespeople D. To develop negotiating techniques

XYZ Company noticed that the sales of iPads in blue have increased in sales. What can be the business determine about the iPads? A. Popular products B. Research methods C. Economic resources D. Competitors' activities

What does a business need in order to understand why a product that has been a strong seller for a long time is now losing popularity? A. Marketing information B. Sales records C. Secondary data D. Purchasing documents

What type of marketing data can a business obtain by reviewing its inventory reports and customers‘ invoices? A. Product quality B. Customers' credit limits C. Customers' product preferences D. Actual market share

By monitoring its sales and its customers' buying habits, what is a business often able to identify? A. Popular products B. Research methods C. Economic resources D. Competitors' activities

What does continuously monitoring internal marketing information enable businesses to do? A. Investigate competitors B. Identify problems C. Evaluate market share D. Analyze economic changes