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A piece of easily observable data about a competitor is its current promotional campaign The best source for data about the goods and services a company needs to buy for its own operation is its vendors Using data wisely can help a company save money by running more efficiently Marketers must use data to estimate costs for projects and allocate funds appropriately. This is known as budgeting Marketers use data to determine pricing strategies such as when to offer a discount on a product Which of the following is a "place" strategy that marketers devise using available data how much of the product to create Which of the following is a product strategy that marketers devise using available data what level of customer service to provide Which of the following pieces of data give a wealth of information about a customer a sales invoice Which of the following is an example of data that marketers could gather from the company's sales team how actual sales compare with sales goals Having appropriate data helps marketers to set goals that are realistic Marketers use data to determine that they want to create messages that appeal to a younger target market. This is part of an overall promotional strategy Which of the following is a requirement for good decision making data Which of the following is a true statement about the wise use of available data it creates more satisfied customers Quinn is getting ready to start college. Though she knows that the figure could change over time, she guesses that her four years in school will cost her around $65,000. This is an example of a(n) estimate Which of the following is a way that marketers can use data to "follow up" on any problems or issues with a product providing salespeople with additional training Which of the following is an example of a fact Valentines Day is on February 14th Which of the following is an example of a trade journal Autoparts Report Which of the following is an example of a prediction sales will be up 4 percent next quarter Data obtained from negative outcomes can help marketers to avoid making the same mistakes in the future Which of the following is not a common type of data used by marketers quote The future service a customer expects for a certain product is data likely to be found on a warranty card Ted is planning a new advertising campaign for his company, a stable that offers private horseback-riding lessons. Which of the following is data that would be useful for Ted's marketing decision making: market share data for his company over the past year Which of the following data might a business learn from its customers: data about buying habits Wayne is in charge of collecting useful marketing data for his company. He has decided that sales will be considered final when the product(s) have shipped. This is an example of setting parameters Where is the best place to start looking for data about competitors? the companies web-site Which of the following is a basic rule governing the collection of data for marketing decision making: don't overextend company resources