Marketing research
What is marketing research?
Collecting and analyzing data to help make business decisions
What is promotion?
Communicating with customers to persuade them
What is credit?
Borrowing money you agree to pay back
What is entrepreneurship?
Starting and running a business.
What is a need?
Something a customer must have.
What is a target market?
A specific group of customers a business wants to reach
What is branding?
Creating a unique identity for a product or business
What is a credit score?
A number that shows your credit reliablity
What is a monopoly?
a single company dominates the entire supply of a specific product or service, facing no significant competition
What is a want?
Something a customer desires but does not need
What Is primary data?
Data collected first hand by a business
What is market segmentation?
Grouping customers based on shared traits/
What is interest?
The cost of borrowing money
What is profit?
Money Left after all expenses
What is customer behavior?
How people decide what they wanna buy
What is secondary data?
Information collected previously by someone else
What is a pricing strategy?
A plan for how a business sets prices
What is a credit limit?
The maximum amount you can borrow
What is a business plan?
A written outline of goals and strategies
What is brand loyalty?
When customers repeatedly choose the same brand
What is a focus group?
A small group interviewed for opinions on a product
What is market share?
The percentage of total sales a compamy controls
What is APR?
Annul Percentage rate, the yearly intest rate on credit.
What is operating expenses?
Cost required for daily business operations
What is a survey used for?
Collecting information directly from customers