Exam 4: Marketing: The Customer

What are the most common data collection methods new ventures use for their marketing research? Describe at least two.

What is a Market Niche Danger Signal?

How can a small retailer compete with a bigger retailer such as Walmart which has a mass appeal?

Knowing that you cannot sell a product at a price below a specific level and that your customers also will not buy that same product either above or below a specific level is an example of knowing your:

What are the "4 I's" of building a comprehensive mobile social media marketing strategy?

An In-store interview is an example of what kind of survey research method?

Monopolistic competition has only one seller or producer, and no substitutes for the desire good or service exist.

According to the book, pure competition is of most concern to the new venture owner.

A respondent to a survey providing different answers to two questions seeking the same information asked different ways, is an example of what?

Social Media platforms must be generic so that they reach as global of a population as possible

__________ as a means of establishing a mutually beneficial relationship with the platform participants. Social media is a key way to build relationships.

How is market survey research carried out? Explain the six steps.

Name and describe four of the strategies business owners need to employ in order to remain distinctive in the eyes of the customers.

The "4 I's" of building a comprehensive mobile social media marketing strategy include individualization, involvement, imitation, and integration