| A | B |
|---|
| A system for collecting recording and analyzing information about customers, competitors goods and services | market research |
| An interview with groups of target customers who provide valuable ideas on products or services. | focus group |
| Data that describe a a group of people in terms of their age, marital status profession education and income | psycho graphics |
| The Individuals or companies that are interested in a particular product or service and are willing and able to pay for it. | market segment |
| Data found in already published format | secondary data |
| Information collected for the very first time to fit a specific purpose | primary data |
| competition from a business that makes most of its money selling the same or similar products or services as another business | direct competition |
| A description on the characteristics of a person or company that is likely to purchase a product or service. | customer profile |
| The people who buy the products and services companies offer | CUSTOMERS |
| A company that does NOT make most of its money from the product you sell | Indirect competition |
| Five steps to market research | define the question, select a research model, collect data, analyze data, draw conclusions |
| Questionnaires should be ___ | Kept to one page |
| Focus group | best type of market research to find customers opinion |
| Observation | Market research method used to count possible customers |
| Market segment | a group of customers that share common characteristics |
