| A | B |
|---|
| Business Plan | Market analysis is information that should be included in the marketing section of the |
| Industrial Market | Customers who buy for business use are a part of the |
| Customer Profile | A complete picture of a business's prospective customers is a |
| Consumer | Customers who buy for personal use are in what market segment |
| Psychographics | Statistical data that describes a given market by criteria like personality, opinions, and lifestyle elements is called |
| Brand Loyalty | Customers who like to purchase products and services from companies they know demonstrate |
| Demographics | Sttistical data that describes a given market by criteria like age, gender, and income is called |
| Market Share | A portion of the total sales generated by all the competing companies in a given market is called the |
| Historical Research | Research that involves patterns from the past to predict future trends is called |
| Economies of Scale | Big businesses can produce products more cheaply and quickly than smaller businesses is called |
| Secondary Data | One of the ways that entrepreneurs can collect data is through the internet this is called |
| Market Segment | Breaking down the total market into smaller groups of buyers with similar needs and interests provide details of a |
| Niche | A small segment of the market discovered through market research |
| Primary Data | Information used specifically fro your study and can be obtained by observation, interviews, surveys |
| Descriptive Research | To determine the buying habits of potential customers, you would conduct |
| Sales Potential | An estimate of how much of a product a business can expect to sell is the |
| Secondary Data | Market research data collected to explore some problem other that the one under study |
| Market | A group of people or companies who have ademand for aproduct or service and are willing and able to buy it |
| Barriers to Entry | Keep new businesses either from entering an industry or succeeding in that industry |
| Market Research | A process used to do market analysis |
| Industry | A collection of businesses with a common line of products or services |
| Proprietary Technology | Know-how that is woned and often protected by patents |
| Customer Needs Analysis | Research ot determine which features and benefits of your goods or services your customers value |
| Target Market | The specific market segment toward which all of a business's activities are directed |
