lesson 6

2. Data, information collected firsthand through surveys, interviews, or experiments.
4. Data, existing information gathered by others, such as reports, articles, or databases.
6. Market, a large group of consumers with similar needs that a product is aimed at.
7. Market, the specific group of customers a business aims its product or service at.
11. (B2B), when one business sells products or services to another business.
12. Research, collecting and analyzing data to understand customers and market trends.
14. Management, overseeing a product’s development, marketing, and performance throughout its life.

1. (B2C), when a business sells products or services directly to individual customers.
3. a group of people or organizations who want and can buy a product.
5. Profile, a detailed description of a business’s ideal customer, including age, habits, and preferences.
8. Environment, all outside factors (like economy, competition, and laws) that affect a business.
9. Model Validation, testing to make sure a business idea or plan actually works and can make money.
10. ideas or guesses accepted as true without proof, often used when planning.
13. Planning, deciding what products a business will make or sell and how they’ll be marketed.