A craze that is unpredictable, of brief duration, and without longterm significance. Example, Furby's or Silly Bandz
What is a fad
100
The part of the qualified available market the company decides to pursue. Example, WiGo's is college students.
What is a target market?
100
An instrument that measures the interest or emotions aroused by exposure to a specific marketing message
What is a galvanometer
100
The art of anticipating what buyers are likely to do under a given set of conditions.
What is forecasting?
100
Data that were collected for another purpose and already exist somewhere
What is secondary data
200
Marketers monitor this force for population, household patterns, educational groups, age mix, and more.
What is demographics?
200
The portion of a market controlled by a particular company or product
What is market share?
200
A type of marketing that describes brain research on the effect of marketing stimuli
What is neuromarketing
200
Surveys to assess people's knowledge, beliefs, preferences, and satisfaction and to measure these magnitudes in the general population.
What is survey research
200
Data that is freshly gathered for a specific purpose or for a specific research project
What is primary data
300
A group with shared values, beliefs, preferences, and behaviors emerging from their special life experiences or circumstances, for example, hippies
What is a subculture?
300
The expected level of company sales based on a chosen marketing plan and an assumed marketing environment
What is company sales forecast?
300
When researchers gather fresh data by viewing relevant actors and settings.
What is observational research
300
Raw material exporting economies (ex. country that exports oil)
What is Saudi Arabia?
300
Observation, focus groups, surveys, behavioral data, and experiments.
What is research approaches
400
Recognizes the need to integrate environmental issues into the firm's strategic plans. For example, Clorox's Green Works line of green cleaning products.
What is corporate environmentalism?
400
The set of consumers with a sufficient level of interest in a market offer
What is the potential market?
400
The number of respondents involved in a research study
What is a sample size
400
Questions that specify all the possible answers and provide answers that are easier to interpret and tabulate.
What is closed-ended questions
400
A gathering of 6-10 people selected by researchers based on certain demographic, psychographic, or other considerations and brought together to discuss various topics of interest at length, assisted by a professional research moderator.
What is a focus group
500
Values that are passed down from parents to children and are reinforced by social institutions - schools, churches, businesses, and governments. (As opposed to secondary beliefs which are more open to change)
What is core belief?
500
The total volume that would be bought by a defined customer group in a defined geographical area in a certain time period.
What is market demand?
500
The six steps followed by marketers in order to gain information about the market.
What is the marketing research process
500
Questions that allow respondents to answer in their own words, revealing more about how people think.