Who wants to be a millionare #2 – Flashcards
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Dividing a market into meaningful groups that are relatively similar and identifiable
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Market Segmentation
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Marketing research has three functional roles. These roles are
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Descriptive, Diagnostic, and Predictive
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The _____ is the starting point in creating a marketing mix
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Product
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A _____ brand is owned by the wholesaler or retailer
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Private
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products are purchased with little shopping effort
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Convenience
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This group determines whether a new product succeeds or fails
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Early Majority
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Products all function in a similar manner and provide similar benefits
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Product Line
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evaluate new-product ideas usually before any prototype has been created.
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Concept Test
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is a business structure of interdependent organizations that reaches from the point of product origin to the consumer or business user
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Marketing Channel
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The process by which the adoption of an innovation spreads is referred to as
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Diffusion
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A channel leader is also called a(n):
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Channel Captain
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Marketing channels make distribution simpler by reducing the number of transactions required to get products from manufacturers to consumers. This is called
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Contact Efficiency
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Income, ethnic background, gender, and age are all examples of _____ segmentation bases
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Demographic
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A retailer of sporting goods equipment is interested in learning what peoples' attitudes, motivations, and feelings are about its product lines. All of the following are potential sources for this info EXCEPT:
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Observation
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It is difficult to achieve consistency and standardization of services because of which service characteristic?
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Heterogeneity
