Term
|
Definition
profit maximization
target return on investment
value pricing |
|
|
Term
| 5 market research process |
|
Definition
define the market opportunity or issue
choose a research method
collect data
analyze the research data
make recommendations to management |
|
|
Term
| 4 PESTI model of external environment |
|
Definition
political and legal forces
economic forces
social forces
technological forces |
|
|
Term
| 5 types of market segmentation |
|
Definition
demographic segmentation
geographic segmentation
psychographic segmentation
benefit segmentation
volume segmentation |
|
|
Term
| 4 business-to-business characteristics |
|
Definition
purchase volume
location of buyers
number of costumers
direct distribution |
|
|
Term
| 4 factors that affect decision making |
|
Definition
cultural
individual
phycological
social |
|
|
Term
|
Definition
embryonic industry environment
growth industry environment
shakeout industry environment
mature industry environment
declining environment |
|
|
Term
|
Definition
introduction
growth
maturity
death (and decline) |
|
|
Term
|
Definition
unsought products
speciality products
convenience products
shopping products |
|
|
Term
|
Definition
-risk of new entry by potential competitors
-the degree of rivalry among established companies within an industry
-the bargaining of buyers
-the bargaining of sellers
-the threat of substitute products |
|
|
Term
| 5 critical success factors |
|
Definition
-achieving financial performance
-meeting and exceeding costumer need
-providing value quality products at a reasonable price
-encouraging creativity and innovation
-gaining employee commitment |
|
|
