Chapter 6

Question 1

the stage an individual goes through from being single to being a sole survivor

Answer 1

family life cycle

Question 2

to market people by zip codes or neighborhood units based on lifestyle and demographics information

Answer 2

geodemographic segmentation

Question 3

the total amount of a product that customers will purchase within a specified period at a specific level of industry

Answer 3

market potential

Question 4

the amount of a product a company expects to sell during a specific period

Answer 4

sales forecast

Question 5

a sales forecasting method based on the intuition of one or more executives

Answer 5

executive judgment

Question 6

a forecasting method that uses historical sales data + discover patterns

Answer 6

times series analysis

Question 7

a method of predicting sales based on relationship between past sales and one or more independent variable

Answer 7

regression analysis

Question 8

making a product available to buyers in one or more test areas

Answer 8

market test