A set of multiple choice questions to help you review for Test 2!
Demographic variables
Psychographic variables
Geographic variables
Benefits sought
Usage rate
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Represent a large share of the entire market, and have critical buying power.
Have common needs, and respond similarly to marketing actions
Have different needs, and potential for future growth.
Have different needs, and respond similarly to market actions.
Have similar responses and profiles
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Demographic variables
Psychographic variables
Geographic variables
Usage rate
Benefits sought
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Potential for increased profit and ROI
Similarity of needs of potential buyers within a segment
Difference of needs of buyers between segments
Cost of reaching the segment
All of the above are criteria to use when forming segments
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Convenience products
Unsought products
Shopping products
Specialty products
Limited products
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Census data
Past sales records
Customer surveys sent out six months ago
A.C. Nielson data on retail sales
Researchers' observations of customer interactions with salespeople that will take place soon
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Final product
Actual product
Augmented product
Selected product
Core product
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Shopping good
Convenience good
Unsought good
Specialty good
Limited good
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Field experiment
Survey
Focus group
Panel tracking
Observation
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Fashion products
High-learning products
Low-learning products
Fad products
Harvested products
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More expensive to collect
Takes longer to collect
More specific to the problem
All of the above are disadvantages of primary data
None of the above are disadvantages of primary data
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Research objectives
Measures of success
Exploratory research
Descriptive research
Causal research
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Facts and figures that are newly collected for the project at hand.
Facts and figures obtained by watching people mechanically rather than in person
Facts and figures obtained by asking people questions.
Facts and figures that have already been recorded before the current project.
Conclusions developed from information obtained from a representative sample of a population.
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Mass-customisation
Repositioning
Synergy
Implementing the 80/20 rule
Target marketing
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