Market Research
What is the study of consumers’ buying habits called?
Market research
What influences how consumers choose products?
Price
What pricing method adds cost plus a margin?
Cost-plus
What protects the product and its contents?
Wrapper
What gives a product a distinctive identity?
Brand
What type of taste varies among consumers?
Subjective
What is the term for consumers’ emotions affecting purchases?
Attitude
What pricing method surveys customers before setting a price?
Market-oriented
What enhances the appearance of a product?
Design
What differentiates a product from competitors?
Logo
What is the term for anticipating product demand?
Forecasting
What kind of behaviour helps marketers predict buying decisions?
Consumption
What is pricing that temporarily reduces price to boost sales?
Promotional
What preserves the product’s life?
Storage
What builds consumer loyalty to a product?
Reputation
What factor helps determine product price and quality relative to competitors?
Competition
What factor refers to perceived necessity of a product?
Need
What pricing strategy targets high-end, price-insensitive customers?
Skimming
What communicates product details to the consumer?
Label
What type of name is registered for exclusive use?
Trademark
What is used to rank consumers’ preferences for products?
Bundles
What aspect of marketing is shaped by consumer choices?
Strategy
What pricing technique sets price just below a round number?
Psychological
What makes products convenient to handle?
Packaging
What term refers to the appeal of a product name or symbol?
Recognition