1. Can be defined as the determination of the needs and desires of markets so that products and services can be developed, priced, promoted, and distributed.

Question

2. A large percentage of the final cost of goods and services
3. People and households that purchase consumer products and services
4. Learning, perception, motives, attitudes, and self-concept that affect what, why, and how consumers purchase goods and services
5. Consistent ways of acting that determine what, why, and how consumers purchase goods and services
6. Groups to which consumers belong or would like to belong to that affect what, why, and how they purchase goods and services
7. The use of two, three, four, and five digits to classify industries and subsidiaries in the United States, Canada, and Mexico
8. The buying decision for organizations that involves the consideration of different suppliers for an item previously bought on a straight rebuy basis
9. A routine purchasing situation for organizations that requires little or no time or effort to conclude
10. Prohibits deceptive advertising and labeling
11. Prevents the distribution of adulterated or misbranded foods, drugs, and unsafe consumer product
12. Protects the consumer from unreasonable risk of injury from products
13. Prohibits various activities that restrain trade or monopolize trade
14. Systems that continually monitor, with heavy use of computers, a company's market, competition, customers, products, and marketing operations
15. The percentage of a customer's spending on a product or service category that is obtained by a specific company's product or service
16. Developing long-lasting profitable relations with customers
17. The percentage of total units sold of a product or service divided into the number of units of that product or service sold by a specific company
18. The price of a company's stock multiplied by the number of shares of the stock

Answer 1

1. Market research
2. Cost of goods sold
3. Consumers
4. Consumer behavior
5. Consumer habits
6. Consumer groups
7. Standard Industrial Classification (SIC) codes
8. Modified rebuy
9. Straight rebuy
10. Federal Trade Commission Act
11. Food, Drug, and Cosmetic Act
12. Consumer Product Safety Act
13. Sherman Antitrust Act
14. Marketing Information Systems
15. Market share
16. Customer relationship management
17. Market penetration
18. Market capitalization