What vocab term is "a way to understan the industry's ability to support new growth"
What is carrying capacity
100
What vocab term is "a group of people or companies who have a demand for a product or service and are willing and able to buy it"
What is a market
100
What is "the specific market segment on which you will concentrate your efforts"
What is target marketing
100
What vocab term is "conditions or circumstances that make it difficult or costly for outside firms to enter a market to compete with the established firm or firms"
What are barriers to entry
100
Define "a complete picture of a venture’s prospective customers"
What is a customer profile
200
What vocab term is "the number and diversity of contacts with which you must deal"
What is complexity
200
What vocab term is "the particular group of customers you are interested in"
What are target customers
200
Define "the collection and analysis of information aimed at understanding the behavior of consumers in a certain market"
What is market research
200
define "loyalty to or the tendency to buy a particular brand of a product"
What is brand loyalty
200
What vocab term is "pinpoints the features and benefits of you goods or services that customers value"
What is customer needs analysis
300
What would be the degree of stability or instability in an industry?
What is uncertainty
300
What are subgroups of buyers with similar characteristics ?
What are market segments
300
What vocab term is "a group of people whose opinions are studied to determine the opinions that can be expected from a larger population"
What is a focus group
300
Define "a portion of the total sales generated by all competing companies in a given market"
What is market share
300
1. Who are my customers?
is a question of what?
What is customer profiling/creating a customer profile
400
What vocab term is "a collection of businesses with a common line of products or services"
What is an industry
400
What defines the process of grouping a market into smaller subgroups defined by specific characteristics?
What is market segmentation
400
What step is collecting primary data?
What is step 3.
400
What vocab term is "the act of identifying a specific market niche for a product"
What is market positioning
400
Define "the particular group of customers you are interested in"
What is target market/customers
500
What are stages that include birth, growth, maturity, and then decline if research and development do not product more growth?
What is stage of life cycle
500
What vocab term is "goods or components produced for sale to manufacturers are used in the production of other goods; consumers who guy goods or services for business use this"
What are industrial markets
500
define "information you obtain for the first time and use specifically for your study"
What is primary data
500
Define "basic characteristics or demographics; include the number of companies, annual revenues, and average size of the companies by number of employees"
What are Industry Demographics
500
"Interviewing prospective customers," is an act of what?