Marketing

Question 1

Market research

Answer 1

System for collecting, recording and analyzing information about customers, competitors, goods and or services

Question 2

Marketing segments

Answer 2

Groups of customers who share common characteristics

Question 3

Market share

Answer 3

Percent of market owned by business “has largest piece of the pie

Question 4

Target market

Answer 4

Those interested in a specific good or service who are willing and able to pay for it

Question 5

Focus group

Answer 5

Interview with groups of target customers who provided valuable ideas on products or services

Question 6

Competitive analysis

Answer 6

Comparing strengths and weaknesses of your firms competition

Question 7

Direct competition

Answer 7

Competitive from a business that makes most of its money selling some of their products and services cvs vs Walgreens

Question 8

In direct competition

Answer 8

Competition by business that makes on only small amount of money selling the same or similar products and services parentheses Walmart versus harps parentheses

Question 9

Primary data

Answer 9

Collected for the first time

Question 10

Secondary data

Answer 10

For mission found in already published horses

Question 11

Marketing concept

Answer 11

Use need of consutoner as focused during planning, production, distribution and promotion of the product