Market Research Basics

A group of people who meet under the direction of a consumer

Existing data previously collected by sources like the government (correct)

In-depth information gathered by marketers from their own research

Data collected by marketers from their own research

Selecting which segments an organization can serve profitably

Dividing the total market into groups with similar characteristics

Identifying small but profitable market segments and designing products for them (correct)

Developing a unique mix of goods and services for each individual consumer

All the individuals or households that want goods and services for personal use

Dividing the total market into groups with similar characteristics

Individuals and organizations that buy goods and services to use in production or to sell, rent, or supply to others (correct)

Developing products and promotions to please large groups of people

<p>Divides the total market into groups with similar characteristics</p> Signup and view all the answers

<p>Rejects the idea of mass production and focuses toward custom-made goods and services for customers</p> Signup and view all the answers