Hint | Answer |
Products that are typically used together and therefore if demand increases for one, the other product will have increased demand. An example is hot dogs and hot dog buns. | |
A type of research where a group of people are asked to share their opinions and perceptions | |
Calculating all costs and adding a mark up or margin to figure out the selling price of the product | |
Firm introduces new variations or sells products to new markets | |
Products that are purchased for consumption by the average person | |
If an industry becomes highly profitable, one can expect more companies to join which will make the market more | |
Type of information that is typically less biased | |
Things consumers would like to have. Such as replacing one's iPhone 5 with a 5S | |
Sales start to fall. Product has been out for a long time | |
Services that are purchased by another company such as insurance and consulting, | |
The amount of product available in the market | |
Products that can be used instead of the product being sold. An example for some people is Coke vs Pepsi | |
Making products based on what the firm believes is best, not necessarily what the consumer believes | |
Questionnaires, interviews, survey and focus groups are all examples of | |
Unique name, unique packaging, the price and quality all contribute to the | |
Information that has already been created that a firm can use to find out more about the market | |
The iPad is an example of | |
Lowering the price of a product for a short period of time. Perhaps to get to rid of inventory or increase interest in a product | |
Making products based on what the consumer wants | |
People not only want a product but are willing to pay for it at a certain price point | |
One limitation of this type of research is it can be very expensive | |
Selling at the price point and quality level that no one else is selling is finding a ______ in the market | |
Sales continue to grow but at a much slower rate. Perhaps more competition. High point for profits | |
The equilibrium where supply and demand meet | |
Leading the questions or an unobjective analysis leads to | |
Putting prices at a similar or slightly lower price than one's competitors | |
How quickly demand changes as prices change | |
In the processing of developing new products there are always ______ _____ ________ | |
If there is high demand then prices will go up and _______ will increses | |
Pricing a product at $99 is an example of | |
Information that is shown through numbers | |
Putting consumers into groups such as gender, income, age, location, and so on is an example of | |
The stage where sales increase the most | |
A business model used to evaluate both internal and external factors for a firm | |
Normally if price goes up, ________ goes down | |
Comments