Chapter 6

is a collection of businesses that are categorized by a specific business activity

• industry

• value chain

• carrying capacity

includes raw materials producers, manufacturers, suppliers, distributors, retailers, and anyone else who deals with other businesses in the industry.

• industry

• value chain

• industrial market

• market segments

is the way to understand industry ability to support new growth

• carry capacity

• market research

• exploratory research

• historical research

is the number and diversity of contacts with which you must deal to do business.

• complexity

• market

• target market

• market segmentation

is a group of people or companies who have a demand for a product or service and are willing and able to buy it

• target market

• market

• market segmentation

• market segments

is the process of grouping a market into smaller subgroups defined by specific characteristics

• market

• target market

• market segmentation

• market segments

subgroups of buyers who have similar characteristcs

• market

• target market

• market segmentation

• market segments

is the study of the market based on where customers live

• demographics

• geographics

• psycho-graphics

is the study of consumers based on social and psychologial characteristics

• demographics

• geographics

• psycho-graphics

goods or components produced for sale to manufacturers and used in the production of other goods

• target market

• market segments

• complexity

• industrial market