- Industry: a collection of businesses with a common line of products or services.
- Carrying capacity: the ability of industry to support new growth.
- Uncertainty is the degree of stability or instability in an industry.
- Complexity: the number and diversity of contacts with which a business must deal.
- Stage of life cycle:
- Birth
- Growth
- Maturity
- Decline
- market: a group of people or companies who have a demand for a product or service and are willing and able to buy it.
- target market: a specific group of customers whom a business wishes to reach
- market segmentation: the process of grouping a market into smaller subgroups defined by specific characteristics.
- market segments: subgroups of buyers with similar characteristics, segmented by geographics, demographics, psychographics, and buying characteristics.
- geographics: the study of the market based on where customers live, including region, state, country, city, and/or area.
- psychographics: the study of consumers based on social and psychological characteristics, including personality, values, opinions, beliefs, motivations, attitudes, and lifestyle elements.
- industrial markets: customers who buy goods or services for business use.
- the target market for your product or service should be:
- measurable
- large enough to be profitable
- reachable
- responsive
- market research: the collection and analysis of information aimed at understanding the behavior of consumers in a certain market
- exploratory research: the initial collection ans analysis of info used when very little is known about a subject.
- focus group: a group of people whose opinions are studied to determine the opinions that can be expected from a larger population.
- descriptive research: the collection of info to determine the status of something such as in developing a customer profile.
- historical research: the study of the past to explain the present and predict the future trends.
- secondary data: info that has already been collected by someone else.
- primary data: info that is collected for the first time, is current, and relates directly to collectors study.
Thursday, March 31, 2011
chapter 6 continued.....
(copied from kelly on some of the top points, wasnt here.)
Friday, March 11, 2011
levi giebrecht
- generating a concept in your mind and execution
- alot of creativity, and can learn the skills or surround your self with them
- mind-do something with it
- made something form nothing
- no formal business education/ didn't finish high school
- more skills you have to utilize the better off you'll be
- 4 points of enterprize : 1. a partner, someone you can get alone with, someone you like; 2. has top be something that you are passionate about, wont carry you in tough times; 3. find a way to be the best; 4. love your employees,
- company is about making people look good and feel good.
- 20thousand come to get a gift card
- nominated for ent of the year, 3rd runner up
- every year took everyone down to Mexico
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