Across
- 2. An evaluation process that encompasses market segmentation, marketing research, and sales forecasting
- 7. Basic physical product/service that delivers the benefits.
- 9. (to Forecasting) Unique new business circumstances ; Lack of familiarity with quantitative methods ; Lack of familiarity with the forecasting process
- 11. A strategy that recognizes different preferences of individual market segments and develops a unique marketing mix for each.
- 13. Specific characteristics that describe customers and their purchasing power
- 15. A strategy that recognizes the existence of several distinct segments but focuses on only the most profitable segment.
- 21. A prediction of how much of a product or service can be sold within a market in a defined period of time.
- 23. The gathering, processing, reporting, and interpreting of market information
- 25. the parameters used to distinguish one form of market behavior from another for the purpose of market segmentation
- 27. Use of sales as the predicting variable
- 28. conditions that make forecasting more _____; 1) new venture, 2) limited managerial experience, 3) poor understanding of forecasting techniques
- 29. Specific characteristics that distinguish market segments according to the benefit sought
- 30. Entrepreneurs may have strong production skills and weak marketing skills.
Down
- 1. A description of potential customers in a target market
- 3. Fundamental benefit or solution sought by customers.
- 4. All potential buyers in various submarkets are identified and then the estimated demand is added up (bottom-up).
- 5. A type of competitive strategy in which cost and differentiation-based advantages are achieved within narrow market segments.
- 6. A group of (1) customers or potential customers who have (2) purchasing power and (3) unsatisfied needs
- 8. conditions that make forecasting ______; 1)established business, 2) experienced manager, 3) entrepreneur familiar with forecasting techniques
- 10. Business activities that direct the creation, development, and delivery of a bundle of satisfaction from the creator to the targeted user and that satisfy the targeted user
- 12. Basic product/service plus extra or unsolicited benefits to the consumer
- 14. the final step in the marketing research process
- 16. Favors product sales over production efficiencies and customer preferences.
- 17. (Mass Marketing), A strategy that defines the total market as the target market.
- 18. The division of a market into several smaller customer groups with similar needs
- 19. Use of related variables related to sales as proxies to project future sales
- 20. Emphasizes development of the product and production efficiencies over other activities.
- 22. (chain-ratio method) Forecasting begins with a macro-level variable and works down to the sales forecast (top-down).
- 24. All marketing efforts begin and end with customers. The focus is on consumers’ needs, which is most consistent with long-term success of the firm.
- 26. a method for collecting primary data that includes surveys, personal interviews, and experiments