Chapter 6 Flashcards
Importance of buisness towards employees
Earn income
Provide daily needs
Increase standard of living
Importance of buisness towards comunity
Lowering unemployment
Lowering poverty
Increase standard of living
Market research
Analyzing/collecting data
On specific product/service
For specific market
Market research determines
Demand
Consumer requirements
Prise
Needs of costumers determines
Needs
specific requirements
Characteristics
What’s expected
Factors to take inti consideration when doing market research
Customers Competitors Prise location Cost/regulation
When prising new product, three objectives need to be satisfied
Accepted by costumers
Keep market share
Make profit
Legal requirements
Listenin
Tax regulations
Worksmans compensation act
Methods to do market research
What product or service
What costumers
Expected market share
Product/price/quantity/quality
Sample
Representation of a group of people you whant to gather info on
How to draw up a questionnaire
Type of questions Words Order Long questions asked towards end First questions must be intresting Avoid to many close ended questions
Typical steps in marketing prosesses
Identify needed data
Search secondary data
Collect primarily data
Interpret data
Important questions to ask
Your aim
How you conduct your survey
Your findings
What these findings tell you
Importantce of buisness to owner
Earn money
Own boss
Personal fulfillment
