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Jeopardy!.

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Presentation on theme: "Jeopardy!."— Presentation transcript:

1 Jeopardy!

2 100 200 300 400 500 Vocab Market Research Industries Forces
Market Segmentation Market Research Industries Forces Competitive Analysis 100 200 300 400 500

3 Vocab-100 Process of grouping a market into smaller subgroups defined by specific characteristics.

4 A small, specialized segment of the market based on customer’s needs.
Vocab-200 A small, specialized segment of the market based on customer’s needs.

5 Advertisement, or idea from a larger population.
Vocab-300 People whose opinions are studied to determine the attitudes towards a product, service, concept, Advertisement, or idea from a larger population.

6 Vocab-400 Should include all the following characteristics; Measurable, Profitable & Reachable

7 Vocab-500 Research collected for the first time and relates directly to the collector’s study.

8 100-Market Segmentation Study of the market based on where customers live by region, state, city, and/or area.

9 200-Market Segmentation Statistical data that describes a given market by criteria such as age, gender, and income.

10 300-Market Segmentation Statistical data that describes a given market by criteria such as personality, opinions, and lifestyle.

11 400-Market Segmentation True-or-False
Demographics are “facts” that describes the target market and include; gender, values, opinions, income, occupation, and age.

12 500-Market Segmentation The specific market segment toward which all of a business’s activities are directed

13 Name 2 ways primary research can be collected.
Market Research-100 Name 2 ways primary research can be collected.

14 Market Research-200 True-or-False
When conducting market research, you should obtain secondary resource information before collecting primary reasearch.

15 What is the first step in conducting market research?

16 Information collected by someone else for their own purposes.
Market Research-400 Information collected by someone else for their own purposes.

17 Market Research-500 When conducting market research, in which step can you best answer the question, “Is there a market for this product or service?”

18 Industry Forces-100 An industry force that makes it difficult or costly for firms to enter a market to compete with established business.

19 Industry Forces-200 Which of the following is NOT an industry force that can affect your business? Availability of substitute products Improved or use of technology Niche marketing Bargaining power

20 Industry Forces-300 Each industry has special characteristics.
Name one characteristic an industry can be defined by.

21 Industry Forces-400 Which industry force allows companies to improve their business processes to operate effectively and efficiently, allowing the company to remain competitive?

22 Which industry force may directly affect cost, pricing, and sales?
Industry Forces-500 Which industry force may directly affect cost, pricing, and sales?

23 100-Competitive Analysis
Business that offers similar products as your business.

24 200-Competitive Analysis
True-or-False When researching your competitors, you should evaluate their pricing policies and advertising strategies.

25 300-Competitive Analysis
Which of the following would be considered a competitive strength for a company? High prices Small size Offers similar products are yours Personalized service

26 400-Competitive Analysis
Which one would be difficult to do when researching your competitors? Identify your indirect competitors Obtain all your competitors’ sales figures and profits

27 500-Competitive Analysis
Business that offers close substitutes to your products/services, or satisfy your customers same basic needs.

28 Vocab Market Segmentation 100 point answer

29 Vocab Niche 200 point answer

30 Vocab Focus Group 300 point answer

31 Vocab Target Market 400 point answer

32 Vocab Primary Research 500 point answer

33 Geographic Segmentation
Market Segmentation Geographic Segmentation 100 point answer

34 Market Segmentation Demographics 200 point answer

35 Psychographic Segmentation
Market Segmentation Psychographic Segmentation 300 point answer

36 Market Segmentation False:
Demographics are “facts” that describe the target market and include; gender, values, opinions, income, occupation, and age. 400 point answer

37 Market Segmentation Target Market 500 points answer

38 Market Research Surveys Observation Focus Groups Interviews
By person Phone Mail 100 point answer

39 Market Research True 200 points Answer

40 Identify your information needs/purpose
Market Research Identify your information needs/purpose 300 point answer

41 Market Research Secondary Data 400 point answer

42 Step 5: Analyze your data
Market Research Step 5: Analyze your data 500 point answer

43 Industry Forces Barriers to Entry 100 point Answer

44 Industry Forces Niche Marketing 200 points Anwser

45 Average size of the companies by number of employees
Industry Forces Number of companies Annual revenues Average size of the companies by number of employees 300 point answer

46 Industry Forces Technology 400 point Answer

47 Industry Forces Source of Supply 500 point Answer

48 Competitive Analysis Direct Competitor 100 Point Answer

49 Competitive Analysis True 200 Point Answer

50 Category #5 Personalized service 300 Point Answer

51 Category #5 400 Point Answer Obtain all your competitors’
Sales figures and profit 400 Point Answer

52 Category #5 Indirect Competitor 500 Point Answer


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