1. Market research and analysis
Chapter 6
Market research and analysis

2. Vocabulary 6.1 6.2 Industry Carrying Capacity Complexity Market
Target Market
Market Segmentation
Geographics
Psychographics
Industrial Markets
Market Research
Exploratory Research
Focus Group
Descriptive Research
Historical Research
Secondary Data
Primary Data
Barriers to Entry
Economies of Scale
Brand Loyalty
Mass Marketing
Market Share
Niche
Market Positioning
Competitive Advantage
Customer Profile
Customer needs analysis

3. Market research What is the purpose of Market Analysis?
Areas of Analysis
Industry
List the 4 Broad Factors of understanding your industry and highlight some points from those paragraphs.
Target Market and Customer
How does target marketing help businesses focus their marketing strategies?
Pg. 119 gives you guidelines to target marketing, jot down those 4 guidelines in your own words

4. Research process List out the 5 steps of the research process
Read the information underneath each section and paraphrase the main points under each (Don’t just list the questions under each section, that’s not even the main points)
Answer Critical Thinking Page 123 and answer it related towards your Business you are starting (you may already have the answer)

5. Industry and market analysis
Section 6.2 page 124

6. Researching the industry
Researching the Industry includes:
Tracking Trends and Patters of Change
Determining Industry Forces that affect your Business
Researching Industry Demographics
Checking out the Competition
Jot down the 5 Industry Forces that Affect Business
Paraphrase the main points of each underneath (you can make a table if you want)
List the 3 ways you can gather information on your competitors (List one other way you can think of and add it to this list)

7. Researching the target customer
Creating Customer Profiles
Answer the four questions for your personal business (this will take a little while if done right and can be used in your business plan)
Evaluating Customer Needs
Forecasting (predicting) Demand
Turn Chapter Work into Period Box and continue with Marketing Mix PPT (Review it) and the I Scream For Ice Cream Project