Chapter 4 - Identify & Meet a Market Need

Data on all of the following can be found in secondary data resources except:

An in-depth interview with a group of target customers.

Data that describes a group of people in terms of tastes, opinions, and habits.

In the Evaluate the results step of Market Research, Entrepreneurs should:

Disadvantages of Primary Data include

A business that makes most of its money selling the same or similar products.

It is important to understand your competition in order to:

When you estimate demand for your product or services, you are identifying

Dividing a target market into several small groups is called

Competitive Analyis includes the following:

Examples of how to maintain customer loyalty include:

A system for collecting, recording, and analyzing information about customers.

A description of the person or company that is likely to purchase a product or service:

A list of questions you would like to ask your customers to find out geographic data:

Step 3 of the Market Research process is:

Data that helps determine where your potential customers live is:

There are five steps when conducting Primary Research.

Amazon is an example of what kind of competitor

Data that describes people in terms of age, marital status, family size, and ethnicity is:

When performing a competitive analysis, entrepreneurs should identify threats from competiton.