Entrepreneurship, Chapter 6 Review

Market research data collected to explore some other than the one under study

• market

• data

• secondary data

• paper

A group of people or companies who has a demand for a product or service and are willing and able to buy it.

• customer profile

• target market

• niche

• market

Making it difficult for outside firms to enter an industry or compete in that industry.

• industry

• descriptive research

• barriers to entry

• psychographics

process used to do market analysis

• target market

• market research

• primary data

• first data

A collection of businesses with a common line of products or services.

• Industry

• historical research

• carrying capacity

• capitalism

Complete picture of venture's prospective customers

• complexity

• small business

• market share

• customer profile

Research to determine which features and benefits of your goods or services your customers value

• customer needs analysis

• market segment

• trade

• consumer

The specific market segment toward which all of a business's activities are directed.

• competitive advantage

• business

• target market

• resources

A portion of the total sales generated by all the competing companies in a given market is called the

• industrial market

• capitalism

• market share

• marketing plan

Statistical data that describes a given market by criteria like age, gender, and income is called.

• Market research

• demographics

• direct channel

• secondary data