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Market Analysis

Business PlanMarket analysis is information that should be included in the marketing section of the
Industrial MarketCustomers who buy for business use are a part of the
Customer ProfileA complete picture of a business's prospective customers is a
ConsumerCustomers who buy for personal use are in what market segment
PsychographicsStatistical data that describes a given market by criteria like personality, opinions, and lifestyle elements is called
Brand LoyaltyCustomers who like to purchase products and services from companies they know demonstrate
DemographicsSttistical data that describes a given market by criteria like age, gender, and income is called
Market ShareA portion of the total sales generated by all the competing companies in a given market is called the
Historical ResearchResearch that involves patterns from the past to predict future trends is called
Economies of ScaleBig businesses can produce products more cheaply and quickly than smaller businesses is called
Secondary DataOne of the ways that entrepreneurs can collect data is through the internet this is called
Market SegmentBreaking down the total market into smaller groups of buyers with similar needs and interests provide details of a
NicheA small segment of the market discovered through market research
Primary DataInformation used specifically fro your study and can be obtained by observation, interviews, surveys
Descriptive ResearchTo determine the buying habits of potential customers, you would conduct
Sales PotentialAn estimate of how much of a product a business can expect to sell is the
Secondary DataMarket research data collected to explore some problem other that the one under study
MarketA group of people or companies who have ademand for aproduct or service and are willing and able to buy it
Barriers to EntryKeep new businesses either from entering an industry or succeeding in that industry
Market ResearchA process used to do market analysis
IndustryA collection of businesses with a common line of products or services
Proprietary TechnologyKnow-how that is woned and often protected by patents
Customer Needs AnalysisResearch ot determine which features and benefits of your goods or services your customers value
Target MarketThe specific market segment toward which all of a business's activities are directed

John Mayo

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