Market Research
Research used to explore ideas and define problems
What is exploratory research?
This “P” refers to the good or service being sold.
What is Product?
A company’s name, logo, and image make up its _____.
What is Branding?
The first step in the buyer decision process.
What is Need Recognition?
Paid messages used to promote products.
What is Advertising?
Research that describes characteristics of a market.
What is Descriptive Research?
This “P” focuses on how much customers pay.
What is Price?
How a product is perceived in the consumer’s mind.
What is Positioning?
When a customer looks for reviews or advice.
What is Information Search?
Short-term incentives like coupons and discounts.
What is Sales Promotion?
Research that tests cause-and-effect relationships.
What is casual research?
Stores, websites, and distribution channels fall under this “P.”
What is Place?
Changing how a product is viewed by consumers.
What is Repositioning?
Comparing different brands before buying.
What is Evaluation of Alternatives?
A company responding to a crisis to regain trust uses this.
What is Public Relations?
Surveys created and conducted by a company are this type of research.
What is Primary Research?
Advertising, sales promotion, and PR are part of this “P.”
What is Promotion?
A chart comparing brands on two attributes, like price and quality.
What is a Positioning Matrix?
The stage where the actual purchase occurs.
What is Purchase Decision?
A salesperson working directly with customers.
What is Personal Selling?
Changing packaging to see if sales increase is an example of this research.
What is Casual Research?
These are the 3 additional P's.
What is Physical Evidence, People and Process?
One positioning strategy based on comparing yourself to competitors.
What is Competitor-Based Positioning?
Customer feelings after the purchase.
What is Post-Purchase Behavior?
What is Corporate Social Responsibility (CSR)?