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(answered) – 1) Customer knowledge competence is important for companies

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(answered) – 1) Customer knowledge competence is important for companiesDescriptionSolution downloadThe Question1) Customer knowledge competence is important for companies because inadequate knowledgeof customers and what they want can result in:a. greater sales of productsb. overestimates or underestimates of sales, which can cost the company money and opportu-nityc. inaccurate market research for the industryd. competitive advantage in certain product categoriese. poor analysis of past sales trends2) ?Chinese Marketing? refers to the practice of:a. calculating international sales in the currency of the local region instead of in the currencyof the company that is making the salesb. selling products to a consumer base that is uninterested in the productsc. international marketing efforts that show insensitivity to the people and culture of thecountryd. manipulating sales figures to reflect the potential sales in a region or territory instead ofthe actual sales in a region or territorye. thinking mistakenly that the number of individuals in a market is the same as the numberof possible total sales in a market3) Sales potential refers to the portion of:a. the sales forecast dealing with a particular product categoryb. the total market potential dealing with one industryc. the total market potential that an individual company can achieved. a company?s customer base that will buy a new producte. the sales forecast that can be determined from external data4) All of the following factors can affect demand EXCEPT:a. social factorsb. demographic trendsc. laws and regulationsd. inelastic demande. economic factors7) What are the characteristics of the cities that are the best sites for market tests?a. They are near a source of water, such as a lake, river, or ocean.b. They have a population of between 100,000 and 500,000 residents.c. They have centers set up in which residents can test new products and services.d. They have taken a census within the previous decade.e. They have demographics very similar to the demographics of the entire United States13) Increasingly, companies are using ROI:a. to reallocate product development budgetsb. as the sole measure of profitability of a product linec. in conjunction with ROAM to manage managersd. to make budget cuts to marketing departmentse. along with other measures like customer loyalty and retention rates20) A company that manufactures products at low prices and sells large numbers of these productsis:a. relationship marketing orientedb. sales orientedc. production orientedd. product-orientede. market-oriented25) American expatriates often have to maintain residences in the United States as well as in thecountry in which they work. When they sell side by side with local workers, this fact alone givessales managers problems when:a. evaluating global sales personnelb. motivating global sales personnelc. compensating global sales personneld. training global sales personnele. selecting global sales personnel1. BOverestimates or underestimates of sales, which can cost the company money andopportunity2. ACalculating international sales in the currency of the local region instead of in the…