Exam 4: Exploring Your Market

The set of four stages that a product or market goes through from its beginning until its end is called the ________.

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

What is a focus group?

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

Psychographic analysis and behavioral analyses are examples of methods of ________.

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

Which of the following is not a stage in the product life cycle (PLC)?

________ ask(s) people directly, through interviews or questionnaires, about their perceptions of a product or service.

Explain why marketing is considered the business function that should drive all a business's decisions.

Analyze the buying process that leads customers to your product or service.

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

How are demographic, psychographic and behavioral segmentation different?

________ is the business function that identifies customers and their needs and wants.

Explain the difference between features and benefits and how it applies to sales.

By teaching customers how to use its products, Home Depot is helping customers see the ________ of its products.

Smart marketers always emphasize ________.

A ________ identifies distinctively the goods or services of one organization from others through a design, symbol, name, term or other distinguishing features.

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

An entrepreneur's market is ________.

There is a subtle difference between the ________ and the ________ of a product. One is a fact while the other is a perception.