Market research is the process of gathering, recording, analyzing, and reporting information regarding current or potential _____________.
Customers
100
Market research can be used to provide retailers with information about their ______________ market.
Target
100
A group of people who have common merchandise needs and the means to buy the merchandise is called a ________.
Market
100
The basic stock of the store that is stocked year round and comprises a good portion of store sales.
Staple Merchandise
100
Where the customers buy their goods.
Place
200
Facts collected for the first time for the problem under study is called ____________ data.
Primary
200
Facts that have been collected previously for a purpose other than the problem being studied is called __________ data.
Secondary
200
The process used to classify a broad market into smaller groups is called market ______________.
Segmentation
200
Items that sell well during particular times of the year that are stocked only for that selling period.
Seasonal Merchandise
200
This P relates to how much people are willing to pay.
Price
300
The number of people questioned for a survey is the survey's _________ ________.
Sample size
300
Facts discovered in the market research process is called _________.
Data
300
The term used to describe the physical location of customers.
Geographics
300
Items customers buy without thinking very much about the purchase.
Convenience Merchandise
300
This P involves making customers aware of a product.
Promotion
400
This is an information-gathering technique that involves watching people or by using a camera.
Observation
400
A small group of 8-15 people who provide qualitative data through their opinions about a business, its products, or other issues under the direction of a discussion leader.
Focus group
400
The term used to describe basic characteristics that identify and distinguish the people in a target market.
Demographics
400
Items that are stocked for several years and that have solid sales over that period of time.
Fashion merchandise
400
Packaging is a major part of this P.
Product
500
This research is used to discover consumer information. Questions usually begin with "How?" or "Why?"
Qualitative Research
500
This research is often used to answer questions about quantities and amounts. It uses a large sample of consumers.
Quantitative Research
500
The term used to describe the analysis of customer lifestyles and how they spend their time and money.