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FCSDIB-Ch 17
Int. Business Vocab Ch 17
| Term | Definition |
|---|---|
| brand | a name, symbol, or design that identifies a product |
| convenience goods | inexpensive items that require little shopping effort |
| experiment | a type of data collection that involves a statistical comparison of two or more very similar situations |
| focus group | a directed discussion with 8 to 12 people |
| global product | standardized item offered in the same form in all countries in which it is sold |
| international product | a customized product adapted to culture, tastes, and social trends of a country |
| marketing research | the orderly collection and analysis of data in order to obtain information about a specific marketing concern |
| observational research | data collection by watching and recording shopping behaviors |
| product life cycle (PLC) | the stages a good or service goes through from the time it is introduced until it is taken off the market |
| product line | an assortment of closely related products designed to meet that varied needs of target customers |
| qualitative research | using open-ended interview questions to obtain comments from customers about their attitudes and behaviors |
| quantitative research | large scale surveys that collect numeric data used to study consumers |
| shopping goods | products purchased after consumers compare brands and stores |
| speciality goods | unique products that consumers make a special effort to obtain |
| test market | an experimental research study that measures the likely success of a new good or service |
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