chap 6

Question 1

arranged chronologically otherwise known as DATA ARRAY

Answer 1

sales data mining

Question 2

commonly used graphs

Answer 2

histogram, frequency polygon, pie chart

Question 3

most common qualitative research tool

Answer 3

FOCUS GROUP DISCUSSION

Question 4

best ways of gathering data about customers

Answer 4

OBSERVATION TECHNIQUE

Question 5

humans observe the events as they happen while

Answer 5

human observation

Question 6

mechanical devices are used to record events

Answer 6

mechanical observation

Question 7

most preferred instrument for in depth quantitative research

Answer 7

Survey Research

Question 8

defines customers motivations, perceptions, preferences and lifestyle

Answer 8

PSYCHOGRAPHICS

Question 9

classifies people according to their level of expertise in using a product or a service

Answer 9

TECHNOGRAPHICS

Question 10

customers with similar needs and wants and similar willingness and ability to pay can be grouped into one customer segment

Answer 10

Market Segmentation

Question 11

some entrepreneurs prefer to appeal to as broad a market as possible

Answer 11

MARKET AGGREGATION

Question 12

refers to grouping customers and products according to certain market variables

Answer 12

MARKET MAPPING