SBE Individual Certification: Marketing Information Mgt

Front

This is a statistical tool used by retailers to assess the purchasing power of one region over another. It will help businesses decide where it would best to expand their operations.

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Buying Power Index

Front

The market's percentage of U.S. effective buying income plus the market's percentage of U.S. retail sales plus the market's percentage of U.S. population are the elements of:

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The Buying Power Index

Front

This is the location, the region, or the community that will be served by the business.

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Trading Area

Front

What is the term for determining the number of customers who will leave their usual trading area to make purchases in other locations? Example: Trying to figure out how many people will drive to Springfield to purchase a new car rather than buying it in Harrison.

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Out-shopper Analysis

Front

The gathering and interpreting of information about a trading area or the customers for a particular product.

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Market Research

Front

This type of marketing research refers to collected information that can be measured numerically. Example: The number of people who live in a trading area and their average income.

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Quantitative Research

Front

This type of marketing research involves collecting information that focuses on the characteristics of customers - it can't be measured numerically. Example: Favorite type of music or recreational activity.

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Qualitative Research

Front

This is data that has already been collected for some other purpose. Example: The US Census collects information about our population that businesses can use.

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Secondary Data

Front

This is newly collected data by the business to aid in answering a specific question. This can be done with surveys, interviews, experiments, or with by simply observing customers.

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Primary Data

Front

What primary research method should a business use to determine price sensitivity for one of its products?

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Experiment