Summarize the four sources of secondary marketing research data.

Q: Services differ from the production of manufacturedgoods in all ways except that servicesa. are cons...

A: Both the services and products are indispensable tools for marketing functions. Each of them their o...

Q: what is  the impact that each of the following has on marketing activity: regulators, the economy, a...

A: Marketing environment refers to those external forces that affect the ability of an organization to ...

Q: Not all segmentation schemes are useful.  To be useful, market segments must rate favorably on certa...

A: Market segment process is a Business tactic to bifurcate the population consisting of similar attrib...

Q: Why is it important to fully understand the cost associated with each item you sell or each service ...

A: Cost associated means the cost incurred by the company on making products or service and includes al...

Q: How companies themselves are inviting consumers to play a more active role in shaping products and b...

A: Customers are the kingpin of the business, goods are manufactured according to the customers require...

Q: Why understanding expectation of customers is critical of a service provider? Suggest one method tha...

A: Understanding expectation of customers is critical of a service provider because it is the most impo...

Q: What risks do buyers associate with each of the different types of contracts (fixed-price, incentive...

A: A contract is an agreement between an organization and an external provider of a service or material...

Q: While some authors say that marketing strategies should be developed by profiling culture for market...

A: The cultural norms and societal norms are to be taken into account to ensure the product's acceptabi...

Q: Identify the steps of the personal selling process. Musta salesperson include all these steps when s...

A: Personal selling is selling process which involves selling of products or services to the potential ...

Q: T F A benefit of specialization is improved efficiencyand increased productivity.

A: Specialization is a method of process whereby entity focuses on the production of a limited scope of...

Q: Discuss one Characteristics of Tactical Planning and explain why this is important in the process? E...

A: Tactical planning allows the companies to achieve short term goals. It is more of a department plann...

Q: What value is added to a product by retailers? What valueis added by retailers for producers and ult...

A: Retailers are one of the members of the supply chain who facilitate in a continuous flow of goods an...

Q: Compare and contrast “strategic blunder” and “strategic drift”?

A: Strategies refer to plan of action or step by step procedure to achieve a pre determined goals.  Str...

Q: How can a company conduct a market opportunity analysis (MOA)

A: The Market Opportunity Analysis System is used to discover appeal and potential for success in busin...

Q: Women in the market can be classified asa. market segmentation.b. a marketing mix.c. a market segmen...

A: Market segmentation-It is the process of dividing the market into common groups who share similar ch...

Q: What can nonstore retailers offer their customers thatin-store retailers cannot?

A: A person who manages or owns a store and supplies the products directly to the public is known as a ...

Q: Explain the trade-offs that inventory managers facewhen they reorder products or supplies. How is th...

A: Inventory is a compromise between user satisfaction and accessibility of materials. With the globali...

Q: What are the benefits of cost-based pricing?

A: Cost-based pricing is technique to decide the price of the product according to the cost of the prod...

Q: T F Hewlett-Packard Corporation and Dell Computeruse product differentiation in the marketplace.

A: Product differentiation is the strategy through which the company tries to distinguish its products ...

Q: Why should business take on the task of training thehard-core unemployed?

A: Hard-core unemployed are those people that are unemployed for a long time. An employee whether a fre...

Market Research Methodology

Market research refers to employing strategies, collecting data, and studying the target audience of a product by an organization. Businesses analyze customer data to figure out consumer trends, improve product design, improve user experience, develop customer-centric marketing campaigns, generate high-quality leads, and boost conversion rates. Phone surveys, test marketing strategies, and focus groups can be used for marketing research.