Entrepreneurship Chapter 4

Which of the following is an example of psychographic data?

Surveys should be no longer than _____ if they are mailed to respondents.

Groups of customers within a large market who share common characteristics are called _______.

___ focuses on understanding customers as individuals instead of as part of a group.

Which of the following is compared in a competitive analysis

Identifying and examining the characteristics of a competing firm is called a

All of the following are examples of strategies for maintaining customer loyalty EXCEPT

The most common type of primary market research is

Who would be the target market for a coffee shop that is located in a business area of a city?

Data ____ is used to find hidden patterns and relationships in stored customer data.

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

Data that describe a group of people in terms of age, marital status, family size, income are _

All of the following are examples of primary data EXCEPT 

Which question should an entrepreneur answer in order to identify the target market?

In a CRM, any type of interaction a customer has with a company is called a

The FIRST step of primary market research is to

An in-depth interview with several target customers who provide ideas on products and services

The second step in market research is 

A description of the characteristics of the person that is likely to buy your products?

The last step in market research is to 

A major disadvantage of primary data is __________.

Data that help you determine where your potential customers live?

Businesses use many strategies to maintain customer loyalty, including

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

A(n) ___ is a list of questions you would like to ask your customers to find out information.

_____ are data that describe a group of people in terms of their tastes, opinions & lifestyles.