MH32 - 2.02 Market Analysis Lesson

Multiple Choice

Market Analysis helps you understand?

• How to make your product, quality control of your product, and promotion of your product

• Possible customer segments, size of the market, competition, barriers to entry, and government regulations

• Who is best to promote your event, how to be culturally sensitive, and how to watch for legal issues.

Multiple Choice

True or False: You should conduct a market analysis so you have a smart strategy for your business and can create products that your customers will love.

• True

• False

Multiple Select

Which of the following should be included in your industry overview?(Choose all that apply)

• Size of the industry

• Expected growth

• Customer reviews

• Industry trends

• Market strategy

Match

Match the following

• Psychographics

• Demographics

• Behavioral

• Market Size

• Geographic

Attitudes, beliefs, lifestyle, hobbies

Age, ethnicity, religion, education, income level, marital status

Brand loyalty, frequency of use, occasion response, benefits derived

How many potential customers there are for your product

Where are your customers located

• Attitudes, beliefs, lifestyle, hobbies

• Age, ethnicity, religion, education, income level, marital status

• Brand loyalty, frequency of use, occasion response, benefits derived

• How many potential customers there are for your product

• Where are your customers located

Multiple Choice

True or False: In general, customers associate low prices with high quality

• True

• False

Multiple Select

Your pricing should? (Choose all that apply)

• Match your positioning strategy

• Just cover your costs

• Cover your costs and allow for profit

Multiple Choice

True or False: When you forecast your initial sales volume, you should be realistic and not use the forecast as a goal.

• True

• False