Analyze The Market Environment / Market Research
Name a type of 'Microenvironment' force (actor).
Competitors
Customers
The Company
Intermediaries
Suppliers
Business Demand Is ‘Derived’ From _________.
Consumer Demand
__________ Products are characterized by Fewer Frequent Purchases, Higher Prices, and Selective
Distribution.
Shopping products
The New Product Development Process begins with ______.
Idea generation
Name the Stages Of The Product Life Cycle.
•Product Development
•Introduction
•Growth
•Maturity
•Decline
Name a type of 'Macroenvironment' force.
Economic
Natural
Demographic
Technological
Political
Cultural
Do Business buyers face simpler or more complex buying decisions than consumer buyers?
More complex
__________ Products are characterized by Frequent Purchases, Widespread Distribution, and Mass Promotion.
Convenience products
________ testing refers to testing new product concepts with groups of target consumers.
Concept testing
What’s Happening To Sales During The Maturity Stage?
Sales increase at a decreasing rate
The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation is called _______.
Marketing Research
A routinely reordered product without any modifications is called _________.
Straight rebuy
Name 2 types of Product Decisions.
Product attributes
Packaging
Branding
Labeling & Logos
Product support
Does product development happen before or after concept testing?
Product development happens After concept testing.
Would A Company Increase Or Decrease Advertising Spend During The Decline Stage?
Decrease
The first step in the marketing research process is _______.
Define the problem and research objectives.
Name 2 participants in the B2B buying process.
Users
Influencers
Buyers
Deciders
Gatekeepers
Name 2 types of Brand Development Decisions.
Brand positioning
Brand name
Brand sponsorship
Brand development
What questions does the R-W-W idea screening framework ask?
Is it real?
Can we win?
Is it worth doing?
In which Product Life-Cycle stage would a marketer create product engagement and trial?
Introductory phase
A marketing research objective with a 'Semi -defined' problem is called ________.
Descriptive research
__________ demand is when for B2B Products changes faster than for B2C products.
Fluctuating demand
A Product _________consists of all the products/items sold by a brand
Product mix
The new product Business Analysis provides projects of ________ (name 1).
Revenue Forecast (units sold x price per unit)
Cost Of Goods
Advertising/Promotion expenses
Profit & Loss Forecast
In which Product Life-Cycle stage would a marketer maximize profit while defending market share?
Maturity phase