Ch. 12- Vocab

Question 1

Research in which people record in personal diaries information on their attitudes, behaviors, or purchasing habits

Answer 1

Consumer Panel

Question 2

Ongoing process of gathering, analyzing, and dispensing information for tactical or strategic purposes

Answer 2

Environmental Scanning

Question 3

Unstructured but in-depth interview of a small group of individuals (8 to 12 people) by a moderator in order to learn the group’s attitudes about a company or its product

Answer 3

Focus group

Question 4

Sensitivity of demand for a product relative to changes in income

Answer 4

Income elasticity

Question 5

Management of the physical flow of products from the point of origin as raw materials to end users as finished products

Answer 5

Logistics

Question 6

Collection and analysis of information used to assist managers in making informed decisions

Answer 6

Market Research

Question 7

Process of collecting and analyzing original data and applying the results to current research needs

Answer 7

Primary Market Research

Question 8

Process of obtaining information that already exists within the company or that can be obtained from outside sources

Answer 8

Secondary Market Research

Question 9

Research in which an interviewer asks current or potential buyers to answer written or verbal questions in order to obtain facts, opinions, or attitudes

Answer 9

Survey

Question 10

International trip by government officials and businesspeople that is organized by agencies of national or provincial governments for the purpose of exploring international business opportunities

Answer 10

Trade Mission

Question 11

Exhibition at which members of an industry or group of industries showcase their latest products, study activities of rivals, and examine recent trends and opportunities

Answer 11

Trade Show