Firms usually decide whether to conduct a marketing research study internally or through an outside organization based on cost, reliability, and accuracy of the data collected by the outside firm.

Increased competition in the marketplace forces an innovative company to bring down the price of a product even lower than its eventual level under a nonsequential skimming procedure.

Retail convergence results in blurring of distinctions between types of retailers and the merchandise mix they offer.

Psychographic segmentation is the most common method of market segmentation.

A full-service research supplier is a marketing research organization that performs all the steps in the marketing research process for a client.

Career counseling session is an example of a pure service on the goods-services continuum.

Maria sees an ad for a new service offered by the U.S. Postal Service to make shipping packages easier during the holidays. This ad is an example of institutional advertising.

The target audience for a social media marketing campaign depends on the goal of the marketing effort.

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.