Market Research
Watching people’s behaviour at hockey arenas is this research method.
Observation
The 4 Ps are Product, Price, Place, and this "P."
Promotion
Grouping customers by age or gender is this segmentation type.
Demographic
The first stage where a product launches with no competition.
Introduction
Pricing strategy: Selling at $9.99 instead of $10.00.
Psychological Pricing
Giving free samples to consumers for feedback is this method.
Experimentation/Product Sampling
This marketing function identifies customer expectations for price/service.
Identify Target Customers
Segmenting based on region or climate (e.g., "same weather").
Geographic
Competitors enter the market in this stage.
Growth
The first "A" in AIDA formula means grabbing this.
Attention
Research that defines a problem using open-ended questions (e.g., focus groups).
Exploratory Research
Documenting how your product differs from competitors is part of this function.
Outline Product Strengths
Targeting people with similar lifestyles or personalities.
Psychographic
Stage where a product’s popularity and competition peak.
Maturity
Strategy: Pricing a new product very low to gain market share.
Penetration Pricing
Using a business’s sales records to analyze trends is this research type.
Internal Research
A plan covering research, advertising, and sales (2 words).
Marketing Strategy
Segmentation by income, education, or social class.
Socioeconomic
Phase where sales drop and products feel "outdated."
Decline
Unpaid media coverage (e.g., news features).
Publicity
Research that explains cause-and-effect (e.g., "Why did sales decline?").
Causal Research
The three functions of a marketing strategy (name one).
1. ID Target Customers
2. Outline Market Size/Trends
3. ID Sales Expectations
Group based on when or how they shop (e.g., loyalty to brands).
Behaviour Patterns
In the Growth stage, businesses do this to maintain market share.
Increase Advertising
Formula: Profit = Revenue – ______.
Expenses