Entrepreneurship - Ch 4

Dividing a population on the base of age, gener, income or education is

Which of the following is a step in determining how customers decide to buy a product?

What is a focus group?

Nike sells sneakers, but it also markets sneakers, using _ to get its message out to customers.

An entrepreneur's market is

Marketing is...

There is a subtle diff between the __ and the __ of a product. 1 is a fact & 1 a perception.

Dividing the market by purchase behaviors that have been observed is ____ segmentation.

The product life cycle phases include all of the following except

Psychological analysis and __________ are examples of methods of market segmentation.

Market research is typically

A marketing plan can serve as a stand-alone doc or be part of an overall bus plan.

Market research should be an integral part of your business

Understanding the status and trends of an industry can be aided by

The most important thing you should do before launching your product or service is

Which of the following aspects of a prod/serv is the most important to focus on when selling?

Consumers who have a similar response to a certain type of marketing can be classified as a

A business that markets is the same as a market-driven business.

____ ask(s) people directly through interviews or ??? about their perceptions of a prod/serv

Your best option in market research is generally primary rather than secondary research.

In doing research, there are serveral choice to help you. Among these are

Marketing is the satisfying of customer needs

Which of the following is not a step in the buying process?

Be teaching customers how to use its products, Home Depot is helping customers see the _of prod

The product life cycle compares gross profit to sales as a prod/serv moves through life stages.

Positioning your product in the market involves

Market research can help you get a fix on who your customers are and

Research carried out indirectly through other existing resources is called

Which bus function to experts agree you should focus on 1st when preparing to start a business?

Smart marketers always emphasize

When has a market become saturated?

The set of four stages that a product or market goes through from beg until end is called the

A marketing term describing owning a perception in the minds of consumers is...

What is the third step of deciding who the potential customers are for your business?

The positioning statement for a business should include