understanding the marketplace test

what option will cause a business to lose money from a failing product?

continue the product

which of these is an example of innovation?

creating a new product

what is one reason that a brand may not want to get rid of a product that isnt meeting goals?

customer loyalty

a marketing plan includes a number of factors, including the market mix. what is the marketing mix?

the variable of product, price, place, and promotion

in the marketing research process, what step happens after marketers define the problem

they develop a research design

what do consumers do after making a purchase?

they evaluate the purchase

What is a consumer?

A person who buys goods and services

Brenda owns a bakery and makes cupcakes. one Saturday morning her assistant, Gabe, receives a large order from Shirley for 100 cupcakes. after Gabe relays the order to Brenda, she immediately places a same-day pick-up order with her icing company, bakes the cupcakes, and sells them to Shirley. Who acts as the business buyer in this scenario?

Brenda

cassie has a line of vanilla-scented body lotion. she has recently decided to add vanilla scented body scrub and vanilla-scented body soap to the line as well. what is this an example of?

line extention

which is an example of labeling?

a reduced price tag

what is an example of secondary data

an interview

why would a business want to develop a marketing strategy?

because it wants to increase sales

What is a survey?

it is a set of questions used for gathering data

What is motivation?

it is the energy and desire to act in a certain way

lisa has created a new product for treating acne. after coming up with the idea, she has sighned the product and its packaging, and has conducted several tests. shes now ready to start selling. what step in the product development process is lisa ready for?

launch product

which of these is an example of demographic data?

marital status

According to Maslow's Hierarchy of Needs, which level do people most likely focus on meeting first

physiological

a farmer is an example of what kind of producer

raw goods producer

jesse owns a video game store. he wants to do a quick poll to find out what kind of games players like the most among what is popular right now. what kind of data collection method is this?

survey

who controls the flow of information in the buying process?

the gatekeeper