Involves the process and methods used to gather information, analyze it, and report the findings related to goods and services
What is marketing research?
100
Used to gather information about a product’s design, packaging and usage
What is product research?
100
Guidelines for good behavior –knowing what is right and wrong
What is ethics?
100
Land
Labor
Capital
Entrepreneurship
What is Factors of Production?
200
answers types of questions that start with “how many” or “how much”
What is quantitative research?
200
Used to determine the effectiveness of the various media to advertise a good or service
What is media research?
200
What are the 4 functions of business?
Production and Procurement, Accounts and Finance, Management and Administration and Marketing
200
The output of goods and services
produced by labor and property within a
country
What is GDP?
300
focuses on smaller number of people but gets more in-depth information
Focuses on “why” or “how”
What is qualitative research?
300
Why is it important?
Research lets companies know what products to produce
It identifies consumer wants, needs and preferences
It helps companies see if their marketing plan is working
It lets companies know how satisfied their customers are
300
The owner is the only one responsible for the business's activities
What is Sole Proprietorship
300
The total dollar value of goods and
services produced by a nation
What is GNP?
400
Known as “opinion” research
What is attitude research?
400
Who Uses Marketing Research?
Small businesses, Large companies, Manufacturers, wholesalers, retailers and government agencies
400
More than one person shares the business decisions and outcomes
What is partnership?
500
Gathers information about an existing or potential market
What is market intelligence research?
500
What is a satisfaction survey an example of?
attitude research
500
Partners that take full responsibility for the management of the busines