Market Research for Entrepreneurs

Customers who buy for personal use are in what market segment?

• trade

• small business

• consumer

• industrial

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

• industrial market

• capitalism

• market share

• marketing plan

____________ is a way to understand the industry's ability to support new growth.

• Market forecasting

• Market expansion

• Market research

• Carrying capacity

The particular group of customers you are interested in is the__________.

• total market

• target market

• customer base

• market segment

___________is the study of consumers based on social characteristics, such as personality, opinions, and lifestyle elements.

• Psycho-graphics

• Geographics

• Demographics

• Brand loyalty

______________are goods or components produced for sale to manufacturers.

• Raw materials

• Brands

• Industrial goods

• Retail goods

The collection and analysis of information aimed at understanding the behavior of consumers is called _____________.

• consumer focus

• market research

• market forecasting

• venture research

Information previously collected by someone else is called ___________.

• secondary data

• primary data

• marketing history

• historical research

_____________ is information you obtain for the first time and use specifically for your study.

• reputable data

• primary data

• secondary data

• descriptive research

You can find opportunity in an industry by looking at _______________.

• target markets

• industry forces

• trends and changes

• competitive forces