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Definition
| People or organizations with needs or wants and the ability and willingness to buy. |
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| A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. |
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| The process of dividing a market into meaningful, relatively similar and identifiable segments or groups. |
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| Business customers who place an order with the first familiar supplier to satisfy product and delivery requirements. |
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| Business customers who consider numerous suppliers, both familiar and unfamiliar, solicit bids, and study all proposals carefully before selecting one. |
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| An interactive, flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions. |
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| The process of planning, collecting, and analyzing data relevant to marketing decision. |
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| Data previously collected for any purpose other than the one at hand. |
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Definition
| Information that is collected for the first time. Used for solving the particular problem under investigation. |
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| The most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions, and attitudes. |
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Definition
| A research method that relies on four types of observation, people watching people, people watching an activity, machines watching people, and machines watching an activity. |
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Definition
| An interview question that encourages an answer phrased in the respondent's own words. |
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Definition
| An interview question that asks the respondent to make a selection from a limited list of responses. |
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| A closed-ended question designed to measure the intensity of a respondent's answer. |
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Definition
| Everything both favorable and unfavorable that a person receives in an exchange. |
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Definition
| A product bought to satisfy an individual's personal wants. |
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Term
| New Products and Importance |
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Definition
| A product new to the world, the market, the producer, the seller, or some combination of these. Important because increased sales through longer sales life, increased margins, increased product loyalty, More resale opportunities, greater market responsiveness, sustained leadership position. |
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Definition
| The process by which the adoption of an innovation spreads. |
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Definition
| A product perceived as new by a potential adopter. |
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| 13.5 percent to adopt the product |
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| Next 34 percent to adopt after early adopters. |
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Definition
| next 34 percent to adopt after early majority. |
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Term
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Definition
| Final 16 percent to adopt product. |
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