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WorksheetsChapter 4 vocab
Total questions: 16
Worksheet time: 10mins
The individuals or companies that are interested in a particular product or service and are willing and able to pay for it
Market Segments
Use-based Data
Geographic data
Target Market
Groups or customers within a large market who share common characteristics
Market Segments
Use-based Data
Geographic data
Target Market
Description of the characteristics of the person or company that is likely to purchase a product of service
Customer Profile
Use-based Data
Geographic data
Target Market
Data that describe a group of people in terms of age, marital status, family size, ethnicity, gender, profession, education, and income
Demographics
Use-based Data
Geographic data
Target Market
Data that describes a group of people in terms of their tastes, opinions, personality traits, and lifestyle habtis
Market Segments
Use-based Data
Geographic data
Psychographics
Use-Base Data is data that helps you determine how often potential customers use a particular service
True
False
Data that help you determine where potential customers live and how far they will travel to do business with you
Market Segments
Use-based Data
Geographic data
Psychographics
A system for collecting, recording, and analyzing information about customers
Market research
Primary Data
Survey
Focus group
Information collected for the very first time to fit a specific purpose
Market research
Primary Data
Survey
Focus group
List of questions you would like to ask your customers to find out demographic and psychographic information
Market research
Primary Data
Survey
Focus group
An in-depth interview with a group of target customers who provide valuable ideas on products and services
Market research
Primary Data
Survey
Focus group
Found in already- published sources
(a)
The goal of a new marketing trend that focuses on understanding customers as individuals instead of as part of a group
CRM (Customer Relationship Management)
Direct Competition
Indirect Competition
Competitive analysis
A business that makes most of its money selling the same of similar products or services to the same market as other business
CRM (Customer Relationship Management)
Direct Competition
Indirect Competition
Competitive analysis
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
CRM (Customer Relationship Management)
Direct Competition
Indirect Competition
Competitive analysis
Identifying and examining the characteristics of a competing firm
CRM (Customer Relationship Management)
Direct Competition
Indirect Competition
Competitive analysis
