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323 Chapter 1

QuestionAnswer
Marketing research the function that links an org to its market through the gathering of information
Relationship marketing the name of a strategy that entails forging long
Knowledge of the market, effective training programs, employee empowerment and teamwork
CRM customer relationship management, the process used for implementing a relationship marketing strategy. Addresses customer/market knowledge, data integration, information technology, customer profiles
Situation analysis monitoring the appropriateness of a firms marketing strategy and determining whether changes to strategy are necessary
Opportunity assessment involves collecting information on product markets for the purpose of forecasting how they will change
Benefit and lifestyle studies examine similarities and differences in consumers needs
Importance performance analysis
Target market analysis information for identifying those people a company wants to serve
Positioning a process in which a company seeks to establish a meaning of general definition of its product offering that is consistant with customer needs
Concept and product testing information for decisions on product improvements and new product induction
Test marketing information for decisions on product improvements and new product introductions
Customer satisfaction studies these studies asses strength and weaknesses that customers perceive in a firms marketing mix
Retailing research studies on topics such as trade area analysis, store image/perception, instore traffic pattern analysis
Created by: 1549260099
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