4 Written Questions
3 Multiple Choice Questions
- Open market rivalry in which every seller tries to get what other sellers are seeking at the same time - sales, profit, and market share - by offering the best practicable combination of price, quality, and service.
- Percentage of total sales volume in a market captured by a brand, product, or firm.
- Marketing: Detailed study of a market or geographical area to gather data on attitudes, impressions, opinions, satisfaction level, etc., by polling a section of the population.
3 True/False Questions
Market Research → The activity of gathering information whereby a specific market is identified and its size and other characteristics are measured.
Available Market → A specific group of consumers at which a company aims its products and services.
Focus Group → Small number of people (typically 8) brought together with a moderator to focus on a specific product or topic. Aimed at a discussion instead of individual responses to formal questions, the process produces qualitative data (preferences and beliefs) that may or may not be representative of the general population.