A.   qualitative and quantitative

B.   needs and wants

C.   surveys and website analytics

A.   Information is a raw fact or figure, and data is organized and meaningful.

B.   Information is the common name for what scientists call data.

C.   Information is data that has been organized to become useful.

A.   qualitative data

B.   quality data

C.   quantitative data

A.   data that has been gathered quickly

B.   data that costs little money to obtain

C.   data that does not contain errors and bias

A.   They are impersonal and lack detail.

B.   They are expensive and take a lot of time.

C.   They are often inaccurate and unreliable.

A.   They make data analysis very quick.

B.   They provide very brief answers.

C.   They provide a large amount of detail.

A.   There are not many documentation methods available.

B.   Participants are not in normal circumstances.

C.   The researcher may have difficulty remaining impartial.

A.   interviews

B.   observations

C.   focus groups

A.   a question that forces respondents to choose from provided answers

B.   a question that gives respondents a limited period of time to answer

C.   a question that is randomly assigned to a select group of respondents

A.   The processing of information can be very slow.

B.   The collection of data is a complicated procedure.

C.   The required technology can be expensive.

A.   a laboratory experiment

B.   a field experiment

C.   a natural experiment

A.   hard metrics

B.   online marketing metrics

C.   soft metrics

A.   It will make them unnecessary.

B.   It will make them a threat to privacy.

C.   It will make them easier to use.

A.   growth

B.   decline

C.   maturity

A.   The length of a product’s life cycle is the same, regardless of product type.

B.   All types of products go through every one of the stages in the life cycle.

C.   Some types of products have longer life cycles than others.

A.   because the company always introduces the product in a small market first

B.   because the company has to produce a very limited amount of the product first

C.   because the company has to spend a lot on research, development, and marketing

A.   a low initial price

B.   a low later price

C.   a high initial price

A.   quickly earn back its investment

B.   quickly attract the entire market

C.   quickly test out the product

A.   making consumers aware of the product

B.   developing a product that consumers will want

C.   producing enough of the product to meet demand

A.   a recognizable brand name

B.   a limited supply relative to demand

C.   a high price

A.   growth

B.   decline

C.   maturity

A.   extend it

B.   skip it

C.   shorten it

A.   This can confuse competitors.

B.   This can restart the product’s life cycle.

C.   This can lengthen its maturity stage.

A.   normalized

B.   standardized

C.   universalized

A.   harvesting

B.   retiring

C.   divesting

A.   economic conditions

B.   external factors

C.   market trends

A.   market trends

B.   changes in laws

C.   competition

A.   proof that companies are cutting costs and increasing profits

B.   proof that companies are still creating innovative products

C.   proof that companies are supporting the greater good