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Questions and Answers
What is the definition of Secondary Data?
What does Market Segmentation involve?
Who are the individuals and organizations in Business-to-Business (B2B) marketing?
Which marketing approach involves identifying small but profitable market segments and designing or finding products for them?
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What is the focus of One-to-One Marketing?
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Study Notes
Marketing Concepts
- Secondary Data: Information that has already been collected by others, either from internal or external sources, for a purpose other than the current research project.
Market Segmentation
- Involves: Dividing a larger market into smaller groups of consumers with similar needs, characteristics, or behaviors to better understand and target them.
Business-to-Business (B2B) Marketing
- Individuals and Organizations: Include producers, wholesalers, distributors, retailers, institutions, and governments that purchase goods or services for use in the production of other products, for resale, or for general operations.
Marketing Approach
- Niche Marketing: Identifying small but profitable market segments and designing or finding products to meet their specific needs.
One-to-One Marketing
- Focus: On building strong, personalized relationships with individual customers, understanding their unique needs and preferences, and tailoring marketing efforts to meet those needs.
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Description
Test your knowledge of marketing research basics, including primary and secondary data, focus groups, and consumer markets.
