Market Research

1. Dividing the market by the relationships between customers and the good or service
3. Business analysis that helps a company decide its strengths, weaknesses, opportunities, and threats
4. Dividing the market by customers’ personal statistics
5. Giving customers greater value, better products, or something not offered by the competition
6. Count of the people living in the country
10. Information that already exists and is available for anyone to use
12. How often a customer buys or uses a good or service
16. Statement that lists a business’ or product’s special features or benefits that highlight its competitive advantage
19. based on the features and benefits of a good or service, not the price
21. Process of dividing a large market into smaller groups
22. Pieces of information collected by you or your organization
23. Entire large market of potential customers with no segmentation
24. Dividing the market by lifestyle choices

2. Involves dividing a market based on where customers live
7. Companies that sell primarily to consumers
8. Detailed description of target market customers based on demographic, geographic, psychographic, and behavioral information
9. occurs when price is the main reason for customers to buy from one business over another
11. Specific group of customers at which a company aims its goods and services
13. status Describes when a customer will buy a product
14. Offer different, but similar, goods or services that could also meet customer needs
15. Gathering and analyzing of information about a business
17. Companies that sell to other businesses
18. Qualities, such as age, gender, and income, of a specific group of people
20. Smaller group of people, families, businesses, or organizations with common characteristics or needs