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Question
Recent research on forecasting techniques indicates that forecasting accuracy can be improved by combining the results of several forecasting methods, leading many to advocate the use of a composite forecasting model that includes both qualitative and quantitative factors. Using a product example and market setting of your choice, demonstrate how the use of a composite forecasting model can lead to more accurate forecasting.Answer
n/a
Related questions
Q:
By reducing waste, compressing time, reducing unit costs, and by demonstrating a flexible response, Dell Computer achieves the four major goals of supply chain management. Briefly describe the meaning and significance of each of these goals to a firm like Dell.
Q:
Cisco and General Electric demonstrate special skills in forging relationships with suppliers and alliance partners. This is an example of:
a. a value network.
b. relationship dynamics
c. a strategic asset.
d. a market scope.
Q:
The process that translates marketing plans into action assignments and ensures that such assignments are executed in a manner to accomplish a plan's defined objectives is called:
a. marketing control.
b. marketing implementation.
c. strategic marketing.
d. marketing accountability.
e. competitive advantage.
Q:
The structure of the buying center in a traditional selling focus is indicated by the____________________and a few other individuals are involved in the buying decision.
Q:
Relationship____________________represents the customer's desire to engage in strong relationships with a current or potential supplier.
Q:
A benchmarking study sought to uncover the critical success factors that drive a firm's new product performance. The results indicate that successful firms:
a. center development efforts on clearly-defined market and technology domains.
b. seldom "kill" a project once the new product development process has been initiated.
c. emphasize low-price strategies to penetrate a mass market.
d. all of the above.
e. (b) and (c) only.
Q:
Products that share a common platform but have different specific features and enhancements that are required for different sets of consumers constitute:
a. a product family.
b. a product market.
c. derivative products.
d. a product consideration set.
e. heavyweight products.
Q:
Qualitative sales forecasting techniques provide a systematic analysis of cause and effect relationships.
Q:
_____ is the integration of business processes from end user through original suppliers that provides products, services, and information that add value for customers.
a. Customer relationship management
b. Supply chain management
c. Logistics management
d. A marketing plan
e. Order processing
Q:
As a controllable element in the logistics system, _____ ensures that information exchanged in the distribution process guides the activities of the logistics system.
a. customer service
b. order processing
c. logistics communications
d. inventory control
e. production planning
Q:
_____ involves activities in which the decision and execution of strategy actions approach convergence with each other in time.
a. Time pacing
b. Patching
c. Routinization
d. Quality function deployment
e. Improvisation
Q:
As a customer adopts JIT purchasing, the typical order size shrinks and more frequent deliveries are required.
Q:
Not all products nor all customers require the same level of logistical service.
Q:
The ____________________ method combines and averages top executives' estimates of future sales and is popular because it is easy to apply and understand.
Q:
Business market customers can be broadly classified into these three categories:
Q:
If the business marketer can offer a buyer more consistent delivery performance from the logistical system, the buyer would have the opportunity to cut the level of safety stock maintained.
Q:
Describe the factors that appear to influence the salesperson's satisfaction with the job and the work environment.
Q:
Which of the following characteristics is true of induced strategic behavior?
a. Communication is consistent with organizational flow.
b. An informal network assesses technical and market merit.
c. An individual manager defines a market need that diverges from the organization's concept of strategy.
d. All of the above.
e. Only a and b.
Q:
For supply chain management, functional products typically have predictable demand patterns while innovative products do not.
Q:
Key account management strategies are emphasized by top-tier business marketing firms like 3M, IBM, and Dow Chemical. Compare and contrast a key account with a regular account. Next, describe how the sales strategy for a key account differs from the traditional selling focus used for regular accounts.
Q:
Properly implemented, supply chain management will lead to longer order-to-delivery cycle time.
Q:
Johnson Technology, a highly successful producer of specialized equipment for the paper industry is contemplating entry into a new industry segment. Beth Walker, the firm's marketing vice-president, has always felt that Johnson Technology could serve the equipment needs of food processors like General Foods. The same basic technology underlies the equipment in both sectors and Beth feels that Johnson Technology has a meaningful edge over all competitors.
Describe the company, competitive, and market factors that the firm should consider before committing resources to this new industry segment.
Q:
The balanced scorecard measures the performance of a business unit from:
a. a customer perspective.
b. a financial perspective.
c. a learning and growth perspective.
d. all of the above.
e. (a) and (b) only.
Q:
Provide an illustration of a situation where value-in-use segmentation would seem to be especially appropriate.
Q:
A firm that is able to accomplish production and logistics processes in less time is addressing which of the following supply chain management goals?
a. Waste reduction.
b. Time compression.
c. Flexible response.
d. Unit cost reduction.
e. Transportation cost reduction.
Q:
The cycle component in a time series indicates the long term general movement in the data in one direction.
Q:
Markets for products and services, local to international, bought by businesses, government bodies, and institutions for consumption, for use or for resale are:
a. consumer markets.
b. business markets.
c. global markets.
d. target markets.
Q:
Changes in business marketing strategy requires corresponding changes in personal selling styles.
Q:
If the requirements of segmentation are met, it should provide the business marketer with valuable guidelines for allocating marketing resources.
Q:
Salespersons tend to have a higher level of job satisfaction when they perceive that their first-line supervisor closely directs and monitors their activities.