Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
8 Cards in this Set
- Front
- Back
|
What are the six(6) steps of marketing research? |
1. Define the problem 2. Develop the research plan 3. Collect information 4. Analyze the information 5. Present findings 6. Follow up |
|
|
What are the advantages available to producers using intermediaries? |
1. Gathering and distribution of information 2. Promotion - communication about an offer 3. Contact - communicating with prospect buyers 4. Matching - shaping offer to buyers needs |
|
|
What is the process for new product development? |
1. Idea Generation 2. Idea Screening 3. Concept development and testing 4. Marketing Strategy 5. Business Analysis 6. Product Development 7. Test Marketing 8. Commercialization |
|
|
Why do products fail? |
1. Lack of demand 2. Poor problem 3. Competition 4. Technical problems |
|
|
List the stages of the product life cycle. |
1. Product development 2. Introduction 3. Growth 4. Maturity 5. Decline |
|
|
What five (5) areas must rate favorably when segmenting the market? |
1. Measurable 2. Accessible 3. Substantial 4. Differential 5. Actionable |
|
|
List the five major promotional mix tools. |
1. Advertising 2. Personal Selling 3. Public Relations 4. Sales Promotion 5. Direct Marketing |
|
|
List the five major cost for differentiation marketing. |
1. Promotion Cost 2. Production Cost 3. Inventory Cost 4. Administration Cost 5. Manufacturing Cost |
