Miscellaneous Quiz / Level 1 & 2 Combined

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QUIZ: Level 1 & 2 Combined

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A visual that is used to simplify information
Things consumers have to have such as food, water, a phone.
Before satisfying a customers needs, it is normal to first _________ their needs.
Things consumers would like to have. Such as replacing one's iPhone 5 with a 5S
Information that has already been created that a firm can use to find out more about the market
A type of research where a group of people are asked to share their opinions and perceptions
Making products based on what the consumer wants
After careful research and analysis, the firm has chosen the specific people they will try to sell their product to. This is referred to as their
One limitation of this type of research is it can be very expensive
If an industry becomes highly profitable, one can expect more companies to join which will make the market more
Selecting 10% of the students at HIS in order to gain insight into what the whole school thinks would be considered
Always choosing to buy a Mercedes car is an example of
Information that is shown through numbers
Type of primary research where the firm asks people questions and records their answers
Information that is based on judgements and opinions
Bar and pie are both types of
Product, price, place and promotion are part of the
Leading the questions or an unobjective analysis leads to
Where buyers and sellers meet to exchange goods or services for money.
Putting consumers into groups such as gender, income, age, location, and so on is an example of
A product that will not be sold to everyone but instead a select few people is called a what? An example is Vertu phones.
Total firm sales / total industry sales
Markets are not static, they are always
The iPad is an example of
External factors of SWOT that a firm doesn't have control over
Selling at the price point and quality level that no one else is selling is finding a ______ in the market
A firms quantity sold multiplied by it's selling price
Making products based on what the firm believes is best, not necessarily what the consumer believes
Type of information that is typically less biased
In regards to SWOT, strengths and weaknesses are factors that the firm has some control over and are considered
A business model used to evaluate both internal and external factors for a firm
A visual that shows the relationship between two things. Typically contains and x and y axis
A research method where one meets face to face and asks questions
Questionnaires, interviews, survey and focus groups are all examples of
Selling a product that anyone can buy such as Coke is referred to as

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