MARKET IDENTIFICATION AND ANALYSIS - bone

Question 1

Is an essential part of the business process because it is the responsibility of a company
to watch out for things that might harm their clients or their business.

Answer 1

Environmental Scanning

Question 2

Is a dimension of market analysis where it facilitates reaching the products to the enduser on real time.

Answer 2

. Distribution Channel

Question 3

. Is a dimension of market analysis where it is a perceived tendency of a market upward
or downward movement over a specific period of time

Answer 3

3. Market Trends

Question 4

It is known as the process of determining the groups of customers to focus on in a
company’s marketing mix

Answer 4

. Target Market Identification

Question 5

It refers to the buying and selling of a product, as well as the establishment of its price,
in a broad sense

Answer 5

market

Question 6

. It includes the detailed steps in executing the marketing strategy.

Answer 6

Marketing Plan

Question 7

It is the overview of how the company will promote their business and meet their
goals

Answer 7

Marketing Strategy

Question 8

He developed the 7 P’s of marketing products and services in 1960.

Answer 8

Edmund Jerome McCarthy

Question 9

7 P’s of marketing mix where it refers to the goods or service that a business offers its
customers.

Answer 9

Products

Question 10

A model that identifies and analyzes five competitive forces that shape every industry
and helps determine an industry’s weaknesses and strengths.

Answer 10

Porter’s 5 Forces Model

Question 11

Under porter’s 5 forces model which refers to the number of competitors and their
ability to undercut a company.

Answer 11

Competition in the Industry

Question 12

Under porter’s 5 forces model which is the ability that customers have to drive prices
lower

Answer 12

Power of Customers

Question 13

Are elements which help the business to achieve great success on the market

Answer 13

Key Success Factors

Question 14

Is a market segmentation where it is consists of dividing the market through different
variables such as age, gender, occupation, income, etc.

Answer 14

Demographic Segmentation

Question 15

Refers to the current and potential sales of the selected market.

Answer 15

. Market Size

Question 16

. This is the process of dividing a market into groups of consumers known as segments

Answer 16

Market Segmentation

Question 17

Consists of grouping the target audience based on their behavior, lifestyle, attitudes,
and interest.

Answer 17

Psychographic Segmentation

Question 18

8. Consists of dividing market through different variables such as age, gender,
   occupation, income, etc

Answer 18

Demographic Segmentation

Question 19

Is an established tool for analyzing competition.

Answer 19

Five Forces Framework

Question 20

It is simply an assessment of the practicality of a proposed project plan or method

Answer 20

Feasibility Study

Question 21

The 5 different areas of market analysis includes Competitive analysis: what are the
market characteristics?

Answer 21

t

Question 22

The 5 different areas of market analysis include Market description: target market
development.

Answer 22

f

Question 23

Behavioral segmentation consists of grouping the target audience based on their
lifestyle, attitudes, and interests.

Answer 23

f

Question 24

Process in 7P’s of marketing mix refers to the procedures and steps involved in
delivering a product or service to the end-user

Answer 24

t

Question 25

The 4 steps in performing market analysis are: industry overview, define your competitors, competition, and pricing and forecast

Answer 25

f

Question 26

One main goals of competitor’s analysis is to determine your competitor’s strategies

Answer 26

t

Question 27

The speculation and expectations of investors can affect the market

Answer 27

t

Question 28

The demand side of the market are the producers, and the supply side of the market are the customers.

Answer 28

f

Question 29

One benefit of target market identification is that it helps you choose the right marketing channels

Answer 29

t

Question 30

You may modify the product, price, and distribution methods to better fit the wants and wishes of your clients.

Answer 30

t

Question 31

Knowing the benefits of target market identification can maximize sales and profits

Answer 31

t

Question 32

Porter’s 5 forces model includes Industry Overview

Answer 32

f

Question 33

. The ultimate goal of marketing strategy is to achieve and communicate a sustainable competitive advantage over competitors.

Answer 33

t

Question 34

The importance of market identification and analysis are: regulation of product, competition, demographics, technological assessment, and barriers.

Answer 34

t

Question 35

A company’s power is also affected by the force of new entrants into its market

Answer 35

t

Question 36

Market analysis refers only to qualitative evaluation of a market.

Answer 36

f

Question 37

It is important to conduct a preliminary analysis when doing a feasibility study

Answer 37

t

Question 38

The ultimate goal of a marketing strategy is to achieve and communicate a sustainable competitive advantage over rival companies.

Answer 38

t

Question 39

Industry Overview is included in Porter’s 5 Forces Model

Answer 39

f

Question 40

Competitor’s analysis refers to an assessment of your own company’s strengths and weaknesses.

Answer 40

f

Question 41

Your project must meet legal requirements. That includes laws and regulations that apply to all activities and deliverables in your project scope.

Answer 41

Legal Feasibility (D)

Question 42

Consists in determining if your organization has the technical resources and expertise to meet the project requirements

Answer 42

Technical Feasibility (C)

Question 43

Refers to business’s overall game plan for reaching prospective consumers and turning them into customers and turning them into customers for their products or services

Answer 43

Marketing Strategy (B)

Question 44

Pertains to the communication strategies employed to make potential customers aware of and attracted to the product

Answer 44

Promotion (A)

Question 45

Refers to the tangible aspects of a product, including packaging, branding, and more.

Answer 45

Physical Evidence (B)

Question 46

Refers to the increase in size and/or sales within a particular target market over a given period of time

Answer 46

Market Growth Rate (B)

Question 47

Commonly thought of as a physical location where we go to buy food or other goods

Answer 47

Market (C)

Question 48

This is the sole piece of marketing puzzle that generates income

Answer 48

. Price (D)

Question 49

The ability that customers have to drive prices lower, or their level of power

Answer 49

. Power of Customers (D)

Question 50

# [](http://) Substitute goods or services that can be used in place of a company’s products or services pose a threat.

Answer 50

0. Threat of Substitute

Question 51

This will help determine how you position your company in the market

Answer 51

. Pricing (e)

Question 52

This will show what portion of the market you hope to get

Answer 52

Forecast (m)

Question 53

Factor affecting the market where strength of a country’s economy is influenced by the flow of capital between countries

Answer 53

International Conditions (l)

Question 54

Refers to how well your project matches your organization’s capacity planning, resources, strategic goals, and business objectives

Answer 54

Operational Feasibility (g)

Question 55

Describe your industry and discuss the direction that it’ headed

Answer 55

Industry Overview (k)

Question 56

In this location, people are able to buy product.

Answer 56

. Place (b)

Question 57

The “why’s” behind a marketing effort. It

Answer 57

Marketing Strategy (a)

Question 58

This dimension is about reducing cost by identifying and eliminating non-value adding activities.

Answer 58

Industry Cost Structure (f)

Question 59

Are the employees, customers, and other stakeholders who interact with a business

Answer 59

. People (d)

Question 60

The “how” behind marketing effort

Answer 60

0. Marketing Plan (n)

Question 61

This will estimate the time that will take to execute the project and set deadlines.

Answer 61

. Time Feasibility (j)

Question 62

Addresses how easily suppliers can drive up the cost of inputs.

Answer 62

2. Power of Suppliers (o)

Question 63

Refers to the procedures and steps involved in delivering a product or service to the end-user

Answer 63

3. Process (i)

Question 64

Selecting one or more market segments or consumer groups to target in your marketing mix.

Answer 64

. Target Market Identification (c)

Question 65

It is the push and pull dynamic in prices.

Answer 65

. Supply and Demand (h)

Question 66

What are the Porter’s 5 Forces Model?

Answer 66

* Competition in the Industry * Potential of New Entrants into an Industry * Power of Suppliers * Power of Customers * Threat of Substitutes

Question 67

5 Different Areas of Marketing Analysis

Answer 67

* Market description: examine your market! * Market size and market development: How enticing is the current market? * Competitive Analysis: what are the market characteristics? * Analysis of the customer industry * Potential analysis of the target market: How will the market develop in the future?

Question 68

Give the 6 objectives of Market Analysis

Answer 68

* To know the buyers * To measure the impact of promotional efforts * To know consumer response * To know market cost and profits * To master the external forces * To design and implement marketing control

Question 69

. What are the 4 Market Segmentation?

Answer 69

* Geographic Segmentation * Demographic Segmentation * Psychographic Segmentation * Behavioral Segmentation

Question 70

Give 5 dimensions of market analysis

Answer 70

Market Size * Market Growth Rate * Market Profitability * Market Segmentation * Market Trends

Question 71

. 5 Importance of Market Identification and Analysis

Answer 71

Regulation of Product * Demographics * Competition * Technological Assessment * Barriers

Question 72

. 5 Typres of Feasibility Study

Answer 72

* Technical Feasibility * Economic Feasibility * Legal Feasibility * Operational Feasibility * Time Feasibility