-
Industry
a collection of businesses that are categorized by a specific business activity, such as transportion, electronics, or food services.
-
Value Chains
Support a common line of products or services that satisfy market demands.
-
Carrying Capacity
a way to understand the industry's ability to support new growth.
-
Complexity
The number and diversity of contacts with which you must deal to do business.
-
Market
A group of people or companies who have a demand for a product or service and are willing and able to buy.
-
Target Market
The particular group of customers of intrest to your company.
-
Market Segmentation
the process of grouping a market into smaller subgroups defined by specfic characteristics.
-
Market Segments
Subgroups of buyers who have similar characteristics.
-
Geographics
The study of the market based on where customers live.This includes region, state, county, city, and/or area.
-
Demographics
the personal charasteristics of a population. This includes age, gender, family size, family life cycle, income,occupation,education,religon, race, social class, and/or nationality.
-
Psychographics
The study of consumers baased on social and psychlogical characteristics.These include personality,values, opinoins,beliefs, motivations, attitudes,and lifestyle elements,including activities and interests.
-
Industrial Markets
Customers who buy goods or services for business use buy here.
-
Market Research
The collection and analysis of information aimed at understanding the bhavior of consumers in a certain market.
-
Exploratory Research
Used when you know very little about a subject.(forms foundation for later research)
-
Focus Group
A group of people whose opinions are studied to estimate the types of opinions that can be expected from a larger population.
-
Descriptive Research
The collection of information to determine the status of something.
-
Historical Research
Involves studying the past to explain present circumstances and predict future trends.
-
Secoundary Data
Information that has already been collected by someone else.
-
Primary Data
Information you collect yourself (important because its recent and relates directly to your objectives)
-
Barriers to Entry
Conditions or circumstances that make it difficult or costly for outside firms to enter a market and compete with the established firm or firms.
-
Economics of Sale
situations where the cost of producing one unit of a good or service decreases as the volume of producition increases.
-
Brand Loyalty
Loyalty to or the tendency to buy a particular brand of a product.
-
Market Share
A portion of the total sales generated by all competing companies in a given market.
-
Niche
A small, specailized segment of the market based on costomer needs discovered in market research.
-
Market Positioning
The act of indentifying a specific market niche for a product or service.
-
Competive Advantage
A feature that makes a product more desirable than its competitors' products.
-
Customer Profile
A complete picture of a business's prospective customers.
-
Customers Needs Analysis
Pinpoints the features and benefits of your goods or services that customers value.
|
|