Question | Answer |
May include several businesses involved with designing, developing, maintaining, improving, and obtaining products and services in order to meet the needs of customers. | Product/service management |
Involves using the best ways for customers to locate, obtain, and use the products and services of a business. | Place (Distribution) |
Involves communicating directly with potential customers in order to determine and satisfy their needs and wants. | Selling |
Information management involves obtaining, managing, and using information about products and services, customers, and competitors to improve business decision-making and the preformance of marketing activities. | Marketing |
Involves budgeting for marketing activities, securng necessary funds for operations, and providing financial assistance to customers. | Financing |
Involves determining and communicating the value of products and services. | Pricing |
Involves communicating information such as features and prices about products and services to potential customers. | Promotion |
Specific set of questions asked to consumers. | Surveys |
Small groups of consumers that discuss a specific product. | Focus groups |
Record the actions of consumers rather than questioning them. | Observations |
A comparison of two controlled alternatives for consumers. | Experiment |