| A | B |
|---|
| marketing research | finding solutions to problems through carefully designed studies involving customers |
| product | everything a business offers to satisfy a customer's needs |
| services | activities consumed at the same time they are produced |
| intangible | services that have no physical form |
| inseparable | services are consumed at the same time they are produced |
| perishable | the availability of a service must match the demand for service at a specific time |
| heterogeneous | differences in the type and quality of services provided |
| primary research | studies to gather NEW information specifically directed at a current problem |
| secondary research | analyze existing information gathered for another purpose but used to solved a current problem |
| # of steps in market research | 5 |
| 1st step in market research | define the problem / need |
| 2nd step in market research | study the situation |
| 3rd step in market research | develop a data collection procedure |
| 4th step in market research | gather and analyze information |
| 5th step in market research | propose a solution |
| surveys | given through email or mail |
| focus groups | small group which discusses pros/cons of a product or idea |
| observations | records actions versus asking questions |
| experiments | give alternatives and see what is chosen |
| components of a product | product, features, brand name, packaging, guarantee/warranty |
