Chap 4 Vocab

identifying and examining the characteristics of a competing firm

• Customer Relationship Management

• Demographics

• Customer Profile

• Competitive Analysis

a description of the characteristics of the person or company that is likely to purchase a product or service.

• Customer Relationship Management

• Survey

• Primary data

• Customer Profile

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

a company’s efforts to understand customers as individuals instead of as part of a group

• Demographics

• Customer Relationship Management

• Market research

• Indirect competition

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

data that describe a group of people in terms of age, marital status, family size, ethnicity, gender, profession, education, and income

• Demographics

• Focus group

• Market segments

• Primary data

a business that makes most of its money selling the same or similar products or services to the same market as other businesses

• Geographic data

• Indirect competition

• Psychographics

• Direct competition

Tags

CCSS.L.7.6

CCSS.L.8.6

CCSS.W.8.2D

CCSS.L.9-10.6

CCSS.W.9-10.2D

an in-depth interview with a group of target customers who provide valuable ideas on products or services

• Focus group

• Psychographics

• Market research

• Survey

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

data that help a business determine where its potential customers live and how far they will travel to visit the business

• Demographics

• Geographic data

• Psychographics

• Secondary data

a business that makes only a small amount of money selling the same or similar products and services to the same market as other businesses

• Direct competition

• Target market

• Market segments

• Indirect competition

Tags

CCSS.L.7.6

CCSS.L.8.6

CCSS.W.8.2D

CCSS.W.7.2D

CCSS.L.6.6

a system for collecting, recording, and analyzing information about customers, competitors, products, and services

• Market research

• Market segments

• Target market

• Customer profile

groups of customers within a large market who share common characteristics

• Focus group

• Use-based data

• Market segments

• competitive analysis