1 / 52

Jeopardy!

Jeopardy!. Vocab-100 Process of grouping a market into smaller subgroups defined by specific characteristics. Vocab-200 A small, specialized segment of the market based on customer’s needs. Vocab-300

henrylucas
Download Presentation

Jeopardy!

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Jeopardy!

  2. Vocab-100 Process of grouping a market into smaller subgroups defined by specific characteristics.

  3. Vocab-200 A small, specialized segment of the market based on customer’s needs.

  4. Vocab-300 People whose opinions are studied to determine the attitudes towards a product, service, concept, Advertisement, or idea from a larger population.

  5. Vocab-400 Should include all the following characteristics; Measurable, Profitable & Reachable

  6. Vocab-500 Research collected for the first time and relates directly to the collector’s study.

  7. 100-Market Segmentation Study of the market based on where customers live by region, state, city, and/or area.

  8. 200-Market Segmentation Statistical data that describes a given market by criteria such as age, gender, and income.

  9. 300-Market Segmentation Statistical data that describes a given market by criteria such as personality, opinions, and lifestyle.

  10. 400-Market Segmentation True-or-False Demographics are “facts” that describes the target market and include; gender, values, opinions, income, occupation, and age.

  11. 500-Market Segmentation The specific market segment toward which all of a business’s activities are directed

  12. Market Research-100 Name 2 ways primary research can be collected.

  13. Market Research-200 True-or-False When conducting market research, you should obtain secondary resource information before collecting primary reasearch.

  14. Market Research-300 What is the first step in conducting market research?

  15. Market Research-400 Information collected by someone else for their own purposes.

  16. Market Research-500 When conducting market research, in which step can you best answer the question, “Is there a market for this product or service?”

  17. Industry Forces-100 An industry force that makes it difficult or costly for firms to enter a market to compete with established business.

  18. Industry Forces-200 • Which of the following is NOT an industry force that can affect your business? • Availability of substitute products • Improved or use of technology • Niche marketing • Bargaining power

  19. Industry Forces-300 Each industry has special characteristics. Name one characteristic an industry can be defined by.

  20. Industry Forces-400 Which industry force allows companies to improve their business processes to operate effectively and efficiently, allowing the company to remain competitive?

  21. Industry Forces-500 Which industry force may directly affect cost, pricing, and sales?

  22. 100-Competitive Analysis Business that offers similar products as your business.

  23. 200-Competitive Analysis True-or-False When researching your competitors, you should evaluate their pricing policies and advertising strategies.

  24. 300-Competitive Analysis • Which of the following would be considered a competitive strength for a company? • High prices • Small size • Offers similar products are yours • Personalized service

  25. 400-Competitive Analysis • Which one would be difficult to do when researching your competitors? • Identify your indirect competitors • Obtain all your competitors’ sales figures and profits

  26. 500-Competitive Analysis Business that offers close substitutes to your products/services, or satisfy your customers same basic needs.

  27. Vocab Market Segmentation 100 point answer

  28. Vocab Niche 200 point answer

  29. Vocab Focus Group 300 point answer

  30. Vocab Target Market 400 point answer

  31. Vocab Primary Research 500 point answer

  32. Market Segmentation Geographic Segmentation 100 point answer

  33. Market Segmentation Demographics 200 point answer

  34. Market Segmentation Psychographic Segmentation 300 point answer

  35. Market Segmentation False: Demographics are “facts” that describe the target market and include; gender, values, opinions, income, occupation, and age. 400 point answer

  36. Market Segmentation Target Market 500 points answer

  37. Market Research • Surveys • Observation • Focus Groups • Interviews • By person • Phone • Mail • 100 point answer

  38. Market Research True 200 points Answer

  39. Market Research Identify your information needs/purpose 300 point answer

  40. Market Research Secondary Data 400 point answer

  41. Market Research Step 5: Analyze your data 500 point answer

  42. Industry Forces Barriersto Entry 100 point Answer

  43. Industry Forces Niche Marketing 200 points Anwser

  44. Industry Forces • Number of companies • Annual revenues • Average size of the companies by number of employees • 300 point answer

  45. Industry Forces Technology 400 point Answer

  46. Industry Forces Sourceof Supply 500 point Answer

  47. Competitive Analysis DirectCompetitor 100 Point Answer

  48. Competitive Analysis True 200 Point Answer

  49. Category #5 Personalizedservice 300 Point Answer

More Related