Intro. to Business - Unit 1 Review

Two people or organizations involved in a transaction.

• exchange
• focus groups
• target market
• marketing mix

Developing and maintaining satisfying exchange relationships between businesses and consumers.

• marketing
• focus groups
• target market
• exchange

A small group of 8-15 people who share their opinions on products being researched by a company

• focus groups
• target market
• exchange
• market

What is a disadvantage of using a large sample size for a survey?

• privacy concerns
• tax liabilities
• increased expense
• less accuracy

Secondary data is often

• gathered before primary data.
• gathered after primary data.
• considered irrelevant.
• more time consuming to gather than primary data.

Primary data is generally

• less expensive than secondary data.
• less time consuming than secondary data.
• easier to gather than secondary data.
• more expensive than secondary data.

A question starting with "How many" is an example of what type of market research?

• quantitative
• qualitative
• secondary
• proprietary

A questions starting with "Why" is usually what type of research question?

• qualitative
• quantitative
• secondary
• proprietary

This image is an example of which marketing function in a

• distribution
• marketing-information management
• pricing
• promotion

This poster of the Mustang evolving over the years, best represents which marketing function?

• product service management
• pricing
• marketing-information management
• promotion