| A | B |
|---|
| Product/Service Mgmt. | Eliminate slow selling products |
| Extend life cycle of product | Find new uses |
| Company needs to know what stage of life cycle product is in | To adapt mktg. strategies |
| Profits might decline during growth stage | Competitors have entered the market |
| Technology allows businesses to produce specialized products | Mass customization |
| 1 way businesses use technology to improve product/service mix | Tracking visitors to their web sites |
| Ethical issue product/service mgr. might face | Use of environmentally friendly packaging |
| Unethical situation of product/service management | Company embellishes info it places on labels |
| Why marketers continue to gather info. | Mktg. environment is constantly changing |
| How can researchers protect the integrity of mktg. info. collected | By interpreting it correctly |
| Important ethical issue involved with collection/use of mktg. info | Confidentiality |
| Is it ethical to use info gathered in direct mktg. campaign for another company | Businesses should not undertake non-research activities involving data collected |
| Businesses place a cookie on a user's hard drive when they visit the business's website | To track the # of times the user buys a product |
| How can businesses use databases to sort/organize info. about customer's purchases | To customize its mktg. efforts |
| Tracking its customers' buying habits helps a business | Build strong, loyal relationships |
| An example of SUGGING | Consumer agrees to survey, BUT then marketer begins sales pitch |
| Most significant reason why mktg. research is important to businesses | It contributes to the success of the business |
| Business uses research data about avg. age, income, etc | To develop a profile of the typical customer |
| Advantage of using secondary data in a research project | Less expensive to collect than primary data (surveys) |
| Research option related to "how many" | Quantitative |
| Secondary source of data | Sales report |
| Research intended to obtain detailed data about customers opinions | Qualitative |
| True statement about mktg. research | Problems identified are often symptoms of larger problems |
| Managers and researchers need to be on the same page about mktg. research problem | Keeps the business from wasting resources |
| Research approach often used to test new ideas | Experimental |
| Research used to ID potential issues/opportunities | Exploratory |
| Business plans to survey to determine what foreign consumers are using product | Descriptive survey |
| Establishing a sampling plan for research project | How many people to survey |
| What method reduces possibility of bias | Random sampling |
| Marketers samples 100 15-yr-old girls and found they were 5'2" tall | Represents sampling error of chance |
