I2B Unit 1 Marketing Basics

The process of gathering, recording, analyzing, and reporting information regarding customers or potential customers.

• Utility

• Marketing

• Marketing Research

• Survey

Two people or organizations involved in a transaction.

• Exchange

• Sample

• Utility

• Marketing

The ability of goods and services to satisfy consumer "wants".

• Marketing

• Utility

• Survey

• Sample

a planned set of questions to which individuals or groups of people respond.

• Marketing

• Marketing research

• Survey

• Sample

Developing and maintaining satisfying exchange relationships between businesses and consumers.

• Marketing

• Utility

• Marketing Research

• Exchange

the group of people taking the survey.

• Sample

• Exchange

• Sample Size

• Utility

the number of people questioned for a survey.

• Sample

• Exchange

• Sample Size

• Utility

What are the two main sources of data?

• Computer/real world

• Government/private sector

• Primary/secondary

An entrepreneur wants to open a night club in a quiet business district. She gathers a group of 8 local business owners to ask them questions about possible concerns and whether or not this could work. This is an example of what kind of market research?

• Survey

• Observation

• Focus group

What is a disadvantage of using a large sample size?

• Privacy concerns

• Increased expense

• Tax liabilities

• Less accuracy