Domain 2 Lesson 1 Flashcard

Front

A target market identifies the _________ group to which a company markets its products and services. [Target Market, Value Proposition, and Pricing]

Back

customer

Front

A ____________ proposition is a statement that explains why a customer should do business with a company. [Target Market, Value Proposition, and Pricing]

Back

value

Front

__________ data is more accurate and reliable compared to secondary data. [Primary and Secondary Data]

Back

Primary

Front

Secondary data often contains personal ______. [Primary and Secondary Data]

Back

bias

Front

A(n) _________ competitor is a business that sells similar products or services as another business. [Evaluate Competition]

Back

direct

Front

A(n) ___________ competitor is a business that sells different products or services but is similar enough to be competitive with another business. [Evaluate Competition]

Back

indirect

Front

A SWOT analysis documents a company’s strengths, weaknesses, ___________, and threats.

Back

opportunities

Front

Financial limitations would be an example of a(n) ___________ in a SWOT analysis.

Back

weakness

Front

Mark designs logos for businesses in his city. He mostly works with local bakeries. What is Mark’s target market?

Back

Adults, ages 25-60

Front

Josie is a teenage girl who wants to start a jewelry-making business. Her target market is females, ages 10-14. What price should she charge per necklace that she sells?

Back

Between one and ten dollars