Market segmentation attempts to isolate traits that distinguish a certain group of consumers from the overall market.

Marketers think in terms of a product as a compilation of package design and labeling, brand name, price, availability, warranty, reputation, image, and customer service activities that add value for the customer.

The first step in the marketing research process is to conduct exploratory research, and then use the information to define the problem.

An internal partnership consists of a relationship that involves long-term exchanges of goods or services in return for cash.

Antrix Corporation is a marketing research firm that specializes in data collection in shopping malls. This information indicates that Antrix Corporation is a full-service research supplier.

Brand recognition is the ultimate stage in brand loyalty that leads consumers to refuse alternatives and search extensively for the desired merchandise.

Often, the desirability of partnering in the business market is based on the fact that each firm brings to the partnership something the other needs but cannot provide on its own.

Market leaders are more likely to engage in comparative advertising than new entrants.

​At the third level of relationship marketing, buyer-seller relationships are transformed structurally into business partnerships.

Companies use knowledge obtained from databases to track customer buying patterns and to customize offerings and sales promotions.