Marketers can obtain information from internal data and from competitive marketing intelligence. Compare and contrast the two sources of information
What will be an ideal response?
Internal databases refer to electronic collections of consumer and market information obtained from data sources within the company network. For example, the accounting department provides records of sales, costs, and cash flows; operations reports on production-related issues; sales and marketing provide data on resellers, competitors, buyer behavior, and the industry; and marketing provides information on customer transactions, demographics, and buying behavior. Internal data are cheaper sources that are easy to access.
On the other hand, competitive marketing intelligence refers to the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketplace. The goal of competitive marketing intelligence is to improve strategic decision making by understanding the consumer environment, assessing and tracking competitors' actions, and providing early warnings of opportunities and threats. Marketing intelligence techniques range from observing consumers firsthand to quizzing the company's own employees, benchmarking competitors' products, researching the Internet, and monitoring Internet buzz.
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Martin wishes to earn $4000 of operating profit each month. Calculate the number of guitars Martin will need to sell to achieve the target profit. (Round your answer up to the nearest whole guitar.)
Martin was a professional classical guitar player until a motorcycle accident left him disabled. After
long months of therapy, he hired an experienced luthier and started a small shop to make and sell
Spanish guitars. The guitars sell for $900, and the fixed monthly operating costs are as follows:
Martin's accountant told him about contribution margin ratios, and Martin understood clearly that for every
dollar of sales, $0.65 went to cover his fixed costs, and anything above that point was profit.
A) 3 guitars
B) 12 guitars
C) 4 guitars
D) 13 guitars
Researchers have distinguished between two broad uses of authority in influence-seeking. The first is authority based on one's personal expertise or credibility. What is the second?
What will be an ideal response?
My leader helped me advance my career by giving me additional opportunities to learn and expand my skills. He is using which characteristic of a servant leader?
A. stewardship B. building community C. commitment to the growth of people D. awareness
Past consideration
a. is synonymous with moral consideration. b. is a promise made for an act about to take place. c. usually induces the offeree to act. d. is a promise made for an act that has already taken place.