GOODS & SERVICES
What is the difference between a good & a service?
GOOD - Tangible item
SERVICE - Provide something intangible
Describes the ideal customer.
CONSUMER PROFILE
Doing something better than the competition that cannot be easily copied.
SUSTAINABLE COMPETITIVE ADVANTAGE
When researchers attempt to give every member of a target market the same chance for selection for a survey.
RANDOM SAMPLING
When expanding internationally companies often shift to a _____ organization to acquire access to local market knowledge.
DECENTRALIZED
Is St. FX a good or a service?
SERVICE
List the five parts of demographics.
AGE, GENDER, INCOME, FAMILY LIFE CYCLE, ETHNICITY
Percentage of one company’s sales compared to the total consumer dollars spent within a specific category.
MARKET SHARE
Type of market research that has been collected & published by others.
SECONDARY DATA
In terms of your PRODUCT, what three things are typically changed when marketing internationally?
PACKAGE
INGREDIENTS
STYLE
The robots that make the car’s at a manufacturing plant are what type of good?
INDUSTRIAL GOOD
The group of people whom marketers want to gear their marketing towards.
TARGET MARKET
Competitive research method that lists all products available in a particular market & categorizes them according to common characteristics.
PRODUCT MAPPING
Small group of people brought together to discuss a product or idea.
FOCUS GROUP
What are two major things to consider when creating an advertisement in another country?
LANGUAGE
ETHNICITY
Explain how some goods can be both consumer & industrial.
DEPENDS ON THE USER.
Being environmentally conscious is what category of the target market?
PSYCHOGRAPHICS
Explain the difference between direct & indirect competition.
DIRECT - within the same category
INDIRECT - competing for the same need but in a different way.
Write a multiple choice, multi-answer survey question that avoids the ditch.
ANSWERS WILL VARY, BUT NEED TO BE EXHAUSTIVE.
In which country is it advised to avoid the use of the number 4?
CHINA
Why does the marketing of industrial goods not need as much advertising as consumer goods?
WORD OF MOUTH, LESS SUPPLIERS.
Competition within the same product category.
DIRECT COMPETITION
Type of research that measures consumers feelings.
QUALITATIVE RESEARCH