The function that links the consumer, customer, and public to the marketer through information. Information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions monitor marketing performance an

Test Bank for Marketing Management 4th Edition By Mark Johnston Greg Marshall Midterm Exam based question and approved answers 2025 Consumers who have interest, income, and access to a particular offer. (Answer)- Available market Part of the qualified available market the company decides to pursue (Answer)- Target Market Set of consumers who are buying the company's product (Answer)- Penetrated Market Total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program (Answer)- Market Demand Maximum sales available to all firms in an industry during a given period, under a given level of industry marketing effort and environmental conditions. Multiply the potential number of buyers by the average quantity purchases and then by the price (Answer)- Total Market potential Calls for identifying all the potential buyers in each market and estimating their potential purchases. Accurate if there is a list of all potential buyers and a good estimate of what each will buy (Answer)- Market build-up method Straightforward index for estimating market potentials. (Weighted average) (Answer)- Market-Factor Index Method Your company's percentage of an industry or market's total sales over a specified time period. Validates your position in the market and helps you fine-tune your overall marketing plan. (Answer)- Market Share Part of anticipating what buys likely to do under a given set of conditions (Answer)- Forecasting When interviewing buyers is impractical, the company may ask its sales representatives to estimate their future sales. (Answer)- Composite of sales force opinions Obtain forecasts from experts, including dealers, distributors, suppliers, marketing consultants, and trade associations (Answer)- Expert Opinion The function that links the consumer, customer, and public to the marketer through information. Information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions monitor marketing performance and improve understanding of marketing as a process (Answer)- Marketing Research Provide diagnostic information about how and why we observe certain effects in the marketplace and what that means to marketers (Answer)- Marketing insights These firms gather consumer and trade information, which they sell for a fee (Answer)- Syndicated-service research firms Hired to carry our specific projects. They design the study and report the findings (Answer)- Customer marketing research firms Provide specialized research services. Best example is the field-service firm, which sells field interviewing services to other firms (Answer)- Specialty Line Marketing Research firms Exploring options (to shed light on the real nature of the problem and to suggest possible solutions or new ideas) (Research Objectives) (Answer)- Exploratory Ex: How many people would use the internet for $5 (Research Objectives) (Answer)- Descriptive Ex: Would passengers use the internet more if they could use their own devices? Cause and effect (Research Objectives) (Answer)- Causal Observing unobtrusively as customers shop or consumer products (Research Approaches) (Answer)- Observational Research Uses concepts and tools from anthropology and other social science disciplines to provide deep cultural understanding of how people live and work. Goal is to immerse the researcher into consumers' lives to uncover unarticulated desires that might not surface in any other form of research (Research Approaches) (Answer)- Ethnographic Research Gathering 6-10 people who spend a few hours with a skilled moderator to discuss a product, service, or other marketing entity (Research Approaches) (Answer)- Focus Group