| A | B |
|---|
| products | can be classified as either goods (tangible) or services (intangible) |
| customers | purchase products |
| consumers | actually use the products |
| goods | tangible products |
| services | intangible products |
| needs | Some products, like food, clothing and shelter |
| wants | luxury items and entertainment products |
| utility | added value |
| form utility | involves changing raw materials into something useful |
| place utility | involves having products where a customer can easily shop for them |
| time utility | involves having a problem available at a convenient time of the day, or season of the |
| possession utility | involves ways of allowing a customer to purchase the item easily even if they don’t have cash |
| information utility | involves providing information to the customer to help them make their buying decision |
| marketing research | involves the marketing function that links the customer and public to the marketer to information |
| marketing information system | a set of procedures and methods that regularly generates, stores, analyzes, and distributes marketing information for use in making marketing decisions |
| database | a collection or file of related information about a specific topic |
| attitude research | is a research designed to obtain information of how people feel about certain products, ideas, or companies |
| market research | involves the systematic gathering, recording, analyzing, and presentation of information related to marketing goods and services |
| sales forecasting | an effort to estimate the future sales of a product |
| economic forecasting | an attempt to predict the future economic conditions of a city, region, country, or another part of the world |
| media research | focuses on issues of media selection and frequency. It measures the effectiveness of the advertising message and media placement |
| product research | centers on evaluating product design, package design, product usage, and consumer acceptance of new and existing products |
| test marketing | occurs when a new product is placed in one or more selective geographic areas |
