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AOHT HM - 4 & 5

TermDefinition
survey A series of questions or a questionnaire used to gather data about consumer attitudes or behavior.
sociocultural Something that combines social and cultural factors, such as the influence of sustainable travel on the hospitality and tourism market.
research study A subset of the target market/population used in market research
market research Collecting and analyzing information about the market or about previous, current, or potential customers.
market influence Something that has an effect on the market, such as economic changes, new laws, political upheaval, social trends, and natural disasters.
focus group A small cross section of people brought together to provide feedback on marketing ideas and products.
exploratory research Done when the problem is not clearly defined or more information is needed.
economy The wealth and resources of a country, especially in terms of the production and consumption of goods and services.
descriptive research Conducted when more information is needed about who/when/where/how a product is purchased.
comment card A customer feedback tool used to gather information from people already patronizing the business.
cause-and-effect research Conducted to study cause-and-effect relationships between marketing mix changes and customer behavior.
goal Specific, concrete, measurable statements of what a company (or a person) wants to achieve.
mission statement A brief statement (usually a few sentences) that expresses the purpose of a business (or a person).
stakeholder Someone who cares about what a company does, because he or she can be affected by its actions. This can include customers, employees, owners, financial backers, and people in the local community.
Created by: rileygrubb
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