Chapter 7 Vocabulary

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