Market Research and Product Development Overview

<p>Value-based pricing (B)</p> Signup and view all the answers

<p>Online platforms to reach customers (B)</p> Signup and view all the answers

<p>Build long-term customer loyalty (A)</p> Signup and view all the answers

<p>How and why people make purchasing decisions (D)</p> Signup and view all the answers

<p>Promoting products that are environmentally friendly (C)</p> Signup and view all the answers

<p>To manage the company's image through media relations (A)</p> Signup and view all the answers

<p>Collecting feedback and implementing changes (B)</p> Signup and view all the answers

<p>Emerging trends in e-commerce (D)</p> Signup and view all the answers

<p>By providing a rewards program (A)</p> Signup and view all the answers

<p>The process of attracting and converting potential customers (B)</p> Signup and view all the answers

<p>The total revenue expected from a customer over their lifetime. (D)</p> Signup and view all the answers

<p>The extent to which consumers can recognize or recall a brand. (B)</p> Signup and view all the answers

<p>A unique benefit that allows better production compared to competitors. (D)</p> Signup and view all the answers

<p>(Revenue - Cost) / Cost. (A)</p> Signup and view all the answers

<p>To divide a broad target market into smaller, specific groups (D)</p> Signup and view all the answers

<p>The steps a customer takes from awareness to purchase. (C)</p> Signup and view all the answers

<p>A specific group of consumers most likely to buy a product (A)</p> Signup and view all the answers

<p>Interacting with customers to strengthen relationships. (D)</p> Signup and view all the answers

<p>Analyzes consumer needs and market trends. (D)</p> Signup and view all the answers

<p>It indicates how a brand is perceived relative to its competitors (C)</p> Signup and view all the answers

<p>To increase sales or brand awareness. (C)</p> Signup and view all the answers

<p>The unique benefits or value of a product (A)</p> Signup and view all the answers

<p>Product, Price, Place, Promotion (D)</p> Signup and view all the answers

<p>Discounts or bundling with related products (C)</p> Signup and view all the answers

<p>Using online platforms for customer engagement (D)</p> Signup and view all the answers

<p>To build brand loyalty by interacting with followers (A)</p> Signup and view all the answers

Understanding customer needs and market trends using methods like surveys, focus groups, and competitor analysis.

Creating and managing products/services, including design, testing, and updates.

Developing a unique identity for a business using logo, message, and values.

Setting competitive and strategic prices for products or services.

Communicating value to customers through channels like social media, ads, and PR.

Ensuring products reach customers through retail, e-commerce, or other methods.

Building customer loyalty through programs, personalized marketing, and excellent service.

Using online platforms to reach customers using ads, social media, and content.

Converting potential customers into paying ones.

Promoting socially responsible practices.

Studying why people buy things, including habits and preferences.

Tracking marketing campaign data to measure success.

Promoting eco-friendly products and practices.

Dividing a large market into smaller, more focused groups with shared traits.

The specific group of customers most likely to buy a product.

How a brand is seen compared to its competitors.

The unique benefits a product offers to customers.

Product, Price, Place, and Promotion strategies.

Understanding why customers make buying decisions.

Using online platforms to connect with customers.

Managing a company's image through media relations and communication strategies.

Collecting and acting on customer feedback to improve products and services.

Analyzing internal and external factors that affect a business.

Customers' preference for a particular brand over others.

Metrics used to measure the success of marketing efforts.

Attracting and converting potential customers.

The total predicted revenue a business expects from one customer throughout their relationship.

How well customers recognize and remember a brand.

Something that lets a company do better than its rivals, like offering better products or lower prices.

Measuring how profitable a marketing investment is.

The steps a customer takes from learning about a product to buying it.

Ways to interact with customers to build a strong relationship.

Collecting and analyzing data to understand customer needs and market trends.

Methods for increasing sales or brand awareness using discounts, offers, and campaigns.