Chapter 1

Front 1

Situation analysis includes (3)

Back 1

1. Market analysis
2. Market segmentation
3. Competition analysis

Front 2

When conducting a situation analysis:

Back 2

1. Locate and identify new market opportunities for a company(Use opportunity assessment)
2. Identify groups of customers in a product/Market who possesses a similar needs, characteristics and preferences(Use benefit and lifestyle studies, descriptive studies)
3. Identify existing and potential competitors strengths and weaknesses (use the importance performance analysis)

Front 3

Opportunity assessment

Back 3

Involves collecting information on product markets for the purpose of forecasting how they will change

Front 4

Benefit and lifestyle studies

Back 4

Examine similarities and differences and consumers needs. Researchers use these studies to identify two or more segments within the market for particular company's product

Front 5

Importance performance analysis

Back 5

A research approach for evaluating competitors strategies, strengths, limitations, and future plans

Front 6

Target market analysis

Back 6

Information for identifying those people (or company) That an organization wishes to serve

Front 7

Positioning

Back 7

A process by which a company seeks to establish a meaning or general definition of its product offering That is consistent with customers needs and preferences

Front 8

Concept and product testing and testing marketing

Back 8

Information for decisions on product improvements and new product introductions

Front 9

Customer satisfaction studies

Back 9

The studies assessment strengths and weaknesses that customers perceive in a firms marketing mix

Front 10

Service quality studies

Back 10

These studies are designed to measure the degree to which an organization conforms to the quality level customers expect

Front 11

Cycle time research

Back 11

A research method that centers on reducing the time between the initial contact and final delivery(or installment) of the product

Front 12

Retailing research

Back 12

Studies on retailing topics such as trade area analysis, store image / Perception, in-store traffic patterns, and location analyses

Front 13

Logistics assessment

Back 13

Studies and logistics allow market researchers to conduct total cost analysis and service sensitivity analysis

Front 14

Demand analysis

Back 14

A research method that seeks to estimate the level of customer demand for a given product and the underlying reasons for demand

Front 15

Sales forecasting

Back 15

Uses variables that affect customer demand to provide estimates of financial outcomes for different price strategies

Front 16

Product analysis

Back 16

Identifies the relative importance of product selection criteria to buyers and rates brands against these criteria

Front 17

Environmental forecasting

Back 17

A research method used to predict external occurrences that can affect the long-term strategy of a firm

Front 18

Marketing decision support system (MDSS)

Back 18

The company developed database used to and analyze company performance and control marketing activities

Front 19

Facilitating agencies

Back 19

Businesses that perform marketing research functions as a supplement to a broader marketing research project