Podcast
Questions and Answers
Customers use a product or a service because they have a ______, or because a product or a service has a ______.
Customers use a product or a service because they have a ______, or because a product or a service has a ______.
need, benefit
The first stage in creating a product today is to ______ exactly what the market wants.
The first stage in creating a product today is to ______ exactly what the market wants.
investigate
Before the advent of marketing, most companies were ______-focused and pushed their products into or onto the market, regardless of market desire.
Before the advent of marketing, most companies were ______-focused and pushed their products into or onto the market, regardless of market desire.
product
[Blank] research is also called primary information because it is based on the use of information which is gathered directly through questionnaires, interviews and surveys.
[Blank] research is also called primary information because it is based on the use of information which is gathered directly through questionnaires, interviews and surveys.
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Methods of ______ research include general publications, statistics and financial reports.
Methods of ______ research include general publications, statistics and financial reports.
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Modern marketing has been the result of a need by manufacturers to pay closer attention to their ______.
Modern marketing has been the result of a need by manufacturers to pay closer attention to their ______.
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Match the following market research types with their characteristics:
Match the following market research types with their characteristics:
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Match the following marketing orientations with their focuses:
Match the following marketing orientations with their focuses:
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Match the following market research goals with their purposes:
Match the following market research goals with their purposes:
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Match the following market research methods with their tools:
Match the following market research methods with their tools:
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Match the following marketing concepts with their definitions:
Match the following marketing concepts with their definitions:
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Match the following marketing shifts with their descriptions:
Match the following marketing shifts with their descriptions:
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Study Notes
Modern Marketing
- Modern marketing emerged as a response to manufacturers needing to understand their markets better.
- The shift from product-focused to market-focused approach allows companies to determine customer desires before building products.
Understanding Customer Needs
- Customers use products or services to fulfill a need or because of a perceived benefit.
- Companies need to investigate what the market wants before creating a product.
Market Research
- Market research involves collecting information about what goods or products people buy and why.
- There are two types of market research: field research and desk research.
Field Research (Primary Information)
- Field research involves gathering information directly through:
- Questionnaires
- Interviews
- Surveys (by phone, post, Internet, or in the street)
Desk Research (Secondary Information)
- Desk research uses previously collected information from:
- General publications
- Statistics
- Financial reports
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Description
Test your understanding of modern marketing concepts, including customer demand and market-focused approach. Learn how producers adapt to changing market needs and desires.
