HoneyDew, a well-known confectionery, plans to introduce a walnut fudge candy. It asks some of its regular customers to sample the candy and offer their opinions. This way the management hopes to estimate the likely number of buyers for the product, if introduced in its store. Which of the following techniques did HoneyDew use to forecast sales?
A. Observation
B. Statistical technique
C. Survey
D. Analogy
Answer: C
Marketing
- Peoples' perception of an object or event results from an interaction between their:
- _____ is an imbalance between a consumer's actual and desired states.
- Challenges of ______: Generic brands, location, energy costs, branding.
- Strategies of _______: Merchandising, Cost reduction, Location management, and logistics.
- Characteristics of _______: Service focused, product-based, geographically sensitive.
- Challenges for ________: Product development, life cycle, fuel/transportation costs, environmental & sustainability.
- Strategies for _______: Volume, Portfolio based diversification, market expansion.
- Characteristics of ______: branded/shopping products, marketing/consumer focused organizations.
- Stage 2: ___________.
- Challenges of _____: Branding, Raw material costs, Fuel/transportation costs, environmental & sustainability.
- Strategies of ______: volume, longer-term contracts, efficiency increase.
- Characteristics of _______: Commodity products, Geographically diverse operations.
- Stage 1: _________
- Functions of _________: 1) Assortment, 2) Breaking Bulk, 3) Holding Inventory, 4) Service
- Sale of products to customers for end-use.
- Producers, Manufacturers or Processors, Food Away from Home or Food/CPG at Home, Consumer.
- In-store (shopper), how people behave in the shopping process.
- Pre-store (customer), the mindset of what people want in a brand/product.
- The __________ and the shopper are not always the same person.
- When segmentation affects the "look, feel, taste" of products it goes as far as ____________.
- ____ also may include pharmaceuticals, consumer electronics, and packaged foods and drink.
- A direct consequence of __________ is product adaptations, often resulting in whole new categories of CPG. (e.g. who would have ever predicted the flavored water category)
- Examples of _____: meat, fruit, veggies, cheese, alcohol, baked goods, etc. Have short shelf life and high turnover.
- Examples of _____: non-perishable items like soft drinks, toiletries, over the counter drugs, toys, processed foods etc.
- CPG = _______