Branding
What is the extent to which a brand comes to mind when a consumer considers a product category?
Brand awareness
Pricing above competitors to take advantage of the assumption that higher price means higher quality.
Premium pricing
New data collected to specifically address research needs.
Primary data
Person who purchases products for personal use.
Consumer
Consumer makes a decision based on value.
Purchase
What is a brand owned by a manufacturer?
National brand (or manufacturer's brand)
Bundling
Data already available from previous research.
Secondary data
Industrial buyer
Consumer seeks information about purchases that may fulfill a need.
Information search
What is a brand owned by a retailer?
Private brand
Pricing below competitors while offering a product of comparable quality.
Value pricing
Obtaining data by watching and recording consumer behavior.
Observation
Inexpensive physical goods that are consumed rapidly and regularly.
Consumer identifies a problem or need.
Need recognition
What is the group of brands that a consumer considers when making a purchase?
Consideration set
Psychological pricing tactic where you sell at $99 rather than $100.
Odd-even pricing
Research method of collecting consumer data using a questionnaire.
Survey
Moderately expensive, infrequently purchased physical goods.
Shopping goods
The company may follow up at this stage.
Postpurchase evaluation
What is the way a brand communicates its values, personality, and promises to customers?
Brand identity
Pricing at or near competitor prices.
Status quo pricing
An open discussion with target audience members about attitudes and opinions.
Focus group
Expensive, rarely purchased, physical goods.
Specialty goods
Consumer compares options and product attributes/features.
Evaluation of alternatives