marketing

Question 1

Marketing Research:

Answer 1

Systematic design, collection, interpretation, and reporting of information to solve marketing problems

Question 2

Primary Data:

Answer 2

Data collected directly from respondents for a specific research purpose.

Question 3

Secondary Data:

Answer 3

Data collected for other purposes but used to support marketing research.

Question 4

Probability Sampling:

Answer 4

A sampling method where every element has a known chance of being selected.

Question 5

Nonprobability Sampling:

Answer 5

Sampling methods based on the researcher’s judgment or convenience.

Question 6

Survey Methods:

Answer 6

Techniques for collecting data from respondents, including interviews and questionnaires.

Question 7

Reliability

Answer 7

The extent to which research consistently produces the same results.

Question 8

Validity

Answer 8

Validity: The extent to which the research measures what it is supposed to measure.

Question 9

Reporting Findings

Answer 9

Reporting Findings: The process of summarizing research results in a formal document.

Question 10

Ethical Standards in Research

Answer 10

Ethical Standards in Research: Considerations for conducting research within ethical boundaries.

Question 11

Market Segmentation

Answer 11

Market Segmentation: Dividing a market into distinct groups with similar needs.

Question 11

Heterogeneous Market

Answer 11

Heterogeneous Market: A market composed of individuals with diverse product needs.

Question 12

Homogeneous Market:

Answer 12

Homogeneous Market: A market segment that shares similar needs for a product.

Question 13

Market Density

Answer 13

Market Density: The number of potential customers within a unit of land area.

Question 14

Differentiated Targeting Strategy

Answer 14

Differentiated Targeting Strategy: Targeting multiple market segments with specific marketing mixes.

Question 15

Concentrated Targeting Strategy

Answer 15

Concentrated Targeting Strategy: Focusing on a single market segment.

Question 16

Market Segments

Answer 16

Market Segments: Groups within a market that share one or more characteristics.

Question 17

Segmentation Variables

Answer 17

Segmentation Variables: Characteristics used to divide a market into segments.

Question 18

Geodemographic Segmentation

Answer 18

Geodemographic Segmentation: Clustering of people based on zip code for marketing purposes.

Question 19

Benefit Segmentation

Answer 19

Benefit Segmentation: Dividing a market by the different benefits that consumers seek from the product.

Question 20

Reseller Markets

Answer 20

Reseller Markets: Markets where intermediaries, like wholesalers and retailers, buy products to resell.

Question 20

B2B Marketing:

Answer 20

B2B Marketing: Marketing products and services directly between businesses.

Question 21

Producer Markets

Answer 21

Producer Markets: Markets that include industries that buy products to use in producing other products.

Question 22

Government Markets

Answer 22

Government Markets: Markets encompassing government agencies that procure goods to fulfill their duties.

Question 23

Institutional Markets

Answer 23

Institutional Markets: Non-profit organizations that purchase goods for operational needs.

Question 24

Types of Business Purchases

Answer 24

Types of Business Purchases: Including new-task, straight rebuy, and modified rebuy.

Question 25

Technical Complexity

Answer 25

Technical Complexity: The level of technical knowledge required to understand and use the product.

Question 26

Demand Fluctuation

Answer 26

Demand Fluctuation: Changes in demand influenced by consumer demand patterns.

Question 27

Supplier Relationships

Answer 27

Supplier Relationships: The importance of maintaining strong relationships with business customers.

Question 28

Ethics in B2B Marketing

Answer 28

Ethics in B2B Marketing: The role of ethical behavior in maintaining long-term business relationships.

Question 29

Global Marketing

Answer 29

Global Marketing: Marketing on an international scale, recognizing the vast potential outside domestic markets.

Question 30

Exporting

Answer 30

Exporting: Selling domestic products to foreign markets.

Question 31

Licensing

Answer 31

Licensing: Permitting another company to use a product, brand, or patent in exchange for a fee or royalty.

Question 31

Importing

Answer 31

Importing: Bringing foreign products into domestic markets.

Question 32

Franchising

Answer 32

Franchising: Allowing another business to operate using the brand and business model of the franchiser.

Question 33

Joint Ventures

Answer 33

Joint Ventures: Collaborative ventures between domestic and foreign firms to enter new markets.

Question 34

Strategic Alliances

Answer 34

Strategic Alliances: Partnerships formed to leverage synergistic opportunities in international markets.

Question 35

Direct Ownership

Answer 35

Direct Ownership: A firm's acquisition of foreign firms to establish a direct presence in international markets.

Question 36

Contract Manufacturing

Answer 36

Contract Manufacturing: Outsourcing production to foreign firms.

Question 37

Tariffs and Trade Barriers

Answer 37

Tariffs and Trade Barriers: Government-imposed regulations that affect international marketing.

Question 38

Online Media Characteristics

Answer 38

Online Media Characteristics: Digital media allow for interactive, targeted communication that can be more easily controlled by consumers.

Question 39

Benefits of Digital Marketing

Answer 39

Benefits of Digital Marketing: Engaging customers interactively and with greater segmentation accuracy.

Question 40

Consumer-Generated Content

Answer 40

Consumer-Generated Content: The growing importance of user-generated content in marketing strategies.

Question 41

Privacy Concerns

Answer 41

Privacy Concerns: The ethical and legal considerations in digital marketing, especially related to consumer data.

Question 42

Intellectual Property

Answer 42

Intellectual Property: Challenges associated with protecting digital content like software, music, and videos.

Question 43

SEO (Search Engine Optimization)

Answer 43

SEO (Search Engine Optimization): Techniques used to increase the visibility of websites in search engine results.

Question 44

Mobile Marketing

Answer 44

Mobile Marketing: Marketing strategies specifically designed for mobile devices, including apps and mobile websites.

Question 45

Social Networks

Answer 45

Social Networks: Using platforms like Facebook and Twitter to engage with customers and promote products.