(Select all that apply) What are the impacts of marketing research on a company?

_______________ found by deciding what type of research needs to be done and what type of information?

_______________ research you conduct yourself. Goes directly to the source. Includes focus groups, surveys, interviews, and observations.

_______________ type of research that has already been compiles, gathered, organized, and published by others.

Qualitative research is stimulating and highly educational technique. Sampling methods and sending out online surveys, online polls, and questionnaires.

_______________ designed to reveal a target audiences range of behavior. In depth studies of small groups, and is descriptive rather than predictive.

_______________ stimulating and highly educational technique. Sampling methods and sending out online surveys, online polls, and questionnaires.

______________ activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

(Select all that apply) What are the four activities (components) of marketing?

________ a group of customers who share common wants and needs

________________ process of getting goods and services to customers

________________ getting the money that is necessary for setting up and running a business

________________ gathering and analyzing information about consumer, trends, and competitor products

________________ deciding how much to charge for a product/service so the business can make a profit

________________ obtaining, developing, maintaining, and improving a product or product mix in response to market opportunities.

________________ any effort to inform, persuade, or remind potential customers about a businesses products/services

________________ proving customers with the goods and services they choose to buy

The 4 P's of marketing include; product, promotion, place, and price

_________________ creates or obtains products and services

_________________ develops, implements, and evaluates business plans

_________________ manages income and expenses and maintains financial records

_________________ maintains daily activities and resources of business

_________________ exchanges products and services with customers

Wants and needs drive the economy and that is how marketing decisions are made

_____________ includes brand name, packaging, accessories, of product/service

_____________ how and where customers buy products/services

_____________ point at which total revenues/sales equal total costs and expenses of developing and offering a product or service

_____________ involves making customers aware of the product

_____________ modifying existing products or creating new products to meet consumer wants and needs

_____________ using the needs of customers as the primary focus during the planning, production, pricing, distribution, and promotions of a product/service

Wants and needs drive the economy and that is how marketing decisions are made.

_____________ is all about making choices and satisfying wants and needs of the consumer.

_______ raw materials supplied by nature

_______ people who create goods/services

_______ assets used in the production of goods/services

People have limited wants and needs

______________ government determines what, how, and for whom goods/services are produced

______________ individuals and business decide what, how, and whom goods/services are produced

______________ goods and services are produced the way they have always been produced

______________ when elements of the command and market economies are combined

___________ quantity of a good/service a producer is willing to produce at different prices

___________ quantity of a good/service that consumers are willing to buy at a given price

___________ point which supply and demand curves meet

___________ cost that must be paid regardless of how much a good/service is produced

___________ costs that go up and down depending on the quantity of the good/service produced

___________ additional satisfaction or utility that a person receives from consuming an additional unit of a good/service

___________ cost added by producing one additional unit of a product/service

_______________ consists of a very large number of businesses producing nearly identical products and has many buyers

_______________ large number of independent businesses that produce goods and services that are somewhat different

_______________ when a market is dominated by a small number of business that gain the majority of total sales revenue

_______________ where there is only one provider of a product/service.