Are the items you would like to have but can live without.
What are Wants?
100
Merchandise that is constantly demanded by customers.
What are Staple Goods?
100
Four ways to protect your product.
What is Servicemark, Trademark, Copyright, and Patent?
100
Systematic collection of information about your customers, your competition, and the business environment.
What is Market Research?
200
Is determined by the social and family environment
What is Culture?
200
Group that shares the same economic or social status.
Determined by income, education, and occupation, social class
What is Social Class?
200
Merchandise that follows changes in style and thus changes constantly.
What are Fashion Goods?
200
Symbol used to identify the source of a physical product and distinguish it from any similar products.
What is Trademark?
200
New product
New service
Unique product assortment
Different method of selling your products
Unique location
What is Unique Business Idea?
300
Every successful business is based on a unique idea that makes it different from its competition.
What is Unique Business Idea?
300
Its impact on consumers is decreasing.
What is Gender?
300
Merchandise that is popular only during certain times of the year.
What are Seasonal Goods?
300
Grants property rights to the inventor, for a limited time, that prevent others from making, using, offering for sale, or selling the invention in the U.S. or importing the invention into the U.S.
What is Patent?
300
Personal interviews
Focus groups
Surveys
Personal observation
Experimentation
What are Primary Research Methods?
400
Physical object
Ownership transferred
Object can be reused or consumed
Quality between manufacturers is similar
What are Goods?
400
Distinctive characteristics make each individual unique.
What is Individuality?
400
Merchandise that is purchased frequently by consumers.
What are Convenience Goods?
400
Protect the way an idea is expressed in any media.
What is Copyright?
400
Develop your idea
Produce a design
Make a prototype
Select a manufacturer
Design the product packaging
What is necessary to turn your idea into a physical product?
500
No physical object
Ownership not transferred
Labor, time, or skill can not be reused
Quality depends on the individual worker
What are Services?
500
Affects beliefs and values.
What is Culture?
500
Useful labor that does not produce a tangible product but is constantly demanded by customers.
And
Useful labor that does not produce a tangible product and is popular only during certain times of the year.
What is Staple Service and Seasonal Service?
500
Symbol used to identify the source of a service and distinguish it from any other service that may be similar.
What is Servicemark?
500
Target your potential customers
Identify business opportunities
Increase your potential for success
Identify weaknesses in your plans
What is using market research data in several ways?