Chapter 7 Vocabulary

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Across
  1. 3. Market segments based on where consumers live or where businesses are located.
  2. 4. Psychological characteristics of consumers, such as attitudes, opinions, beliefs, interests, personality, and personal preferences.
  3. 9. Something that puts your business ahead of the competition.
  4. 12. Market that includes as many customers as possible.
  5. 13. Limited amount of customers who are most likely to buy a specific product or service.
  6. 14. Existing information that was previously gathered for a purpose other than the study at hand.
Down
  1. 1. Objective social and economic facts about people.
  2. 2. Any social, economic, or political factors that could impact your business including global, national, and industry-related factors.
  3. 5. Grid used to compare characteristics of your business with those of your direct competitors.
  4. 6. Organized way to gather and analyze information needed to make business decisions.
  5. 7. Business that sells a different product or service from yours but fills the same consumer need or want.
  6. 8. Business in your market that sells a product or service similar to yours.
  7. 9. Maximum number of companies an industry can support based on its potential customer base.
  8. 10. New information that is collected for a particular purpose. It is obtained directly from potential customers.
  9. 11. Group of potential customers who are willing and able to purchase a particular product or service.