TXMI 4210 Exam 2 questions with complete answers

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Sales Plane Correct Answer: managerial strategy to meet/exceed the sales forecast. Sales Forecast Correct Answer: a projection of expected demand given a set of environmental conditions - specifi ... c time horizon, updated quarterly Sales Forecast Requirements Correct Answer: current internal data on sales volume and marketing; future plans for marketing and product distribution; external data: market information and cultural indicators data sharing Correct Answer: designers, manufacturers, retail management, and buyers share data that is specific to their products Fashion Offices Correct Answer: fashion directors research disseminate fashion trend information to buyers, planners, and product developers. sales strategy Correct Answer: develop by retailer and manufacturer based on data Observation Correct Answer: watching, photographing, recording, and reporting on consumers' behavior in multiple locations. Focus Groups Correct Answer: representative group of consumers are questioned together - informal conversations, organized debates Questionnaires and Surveys Correct Answer: understand and identify existing and potential customers Viral Marketing Correct Answer: marketing practices that use existing social networks to spread the word through society; consumer participates and contributes to the process. Social Media Sites Correct Answer: internet-based platforms used to broadcast messages, communicate, and hold conversations. Twitter, Instagram, Facebook, YouTube, etc. Blogs Correct Answer: type of website often frequented regularly by individuals who post text, images, videos, and links to other websites related to the topic of the blog Bloggers Correct Answer: people who post commentary or images about a particular subject on their blog. Influencer Correct Answer: has the ability to influence many people to adopt a trend and buy a product. Market Research Firms Correct Answer: conduct studies and provide information that can benefit forecasters, analyze and project marketing opportunities. [Show More]

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