Market Research

7. specific group of consumers at which a company aims its products and services.
8. Data to know how much they plan to use your product.
10. data that the company has collected directly or that has been collected by a person or business hired to conduct the research.
12. process of identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to your own business, product, and service
14. open-ended, helps you define a specific problem, and usually involves detailed, unstructured interviews in which lengthy answers are solicited from a small group of respondents.
16. group of consumers with shared characteristics
17. Data where do your customers live and how far are they willing to travel for your product.
18. most difficult competition to identify among competitors because they use the same resources as your product or service, but they offer something else
19. precise in scope and is used to solve a problem that exploratory research has identified.

1. gathers numerical data.
2. gathers views and attitudes.
3. an interview with a group of potential customers who provide valuable feedback
4. describes the group of people by age, marital status, gender, etc.
5. data that an outside entity has already gathered.
6. action or activity of gathering information about consumers' needs and preferences.
9. means that your competitors are in the same line of business and they are offering the same product and service
11. where your competitors are offering the same product or service, but they have different marketing and business goals and they are adopting a different business strategy to target their market
13. list of questions to ask customers to find out more information
15. describes people by their personality traits, hobbies, interests, etc.