Entrepreneurship- Chapter 4 Review

Front

A report portraying details about a typical customer

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customer profile

Front

The specific group of people a business focuses on selling to

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target market

Front

The process or technique of promoting, selling and distributing a product or service.

Back

marketing

Front

A business tool that evaluates a company's strengths, weaknesses, opportunities, and threats

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SWOT analysis

Front

The method of choosing a target market

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market identification

Front

a process dividing a market into categories based on common characteristics

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market segmentation

Front

The percentage of the market for a product or service that a company supplies

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market share

Front

a method of selling that involves analyzing customer wants and needs and aiming to fulfill them better than competitors.

Back

marketing concept

Front

Businesses study the unique needs and wants of people in geographic areas to create and market products to meet consumer demands. This is known as

Back

geographic segmentation

Front

The division of a market using statistical data

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demographic segmentation