Business Questions

EnviableGingko avatar
EnviableGingko
·
·
Download

Start Quiz

Study Flashcards

12 Questions

What is market research?

The collection, presentation, and analysis of information relating to the marketing and consumption of goods and services.

Define market segment.

A part of a whole market where a particular customer group has similar characteristics.

What is primary research or field research?

The gathering of 'new' information which does not already exist.

Explain competitive advantage.

An advantage that enables a business to perform better than its rivals in the market.

Define demand curve.

A line drawn on a graph that shows how much of a good will be bought at different prices.

What are substitute goods?

Goods that can be bought as an alternative to others, but perform the same function.

Define E-commerce.

Conducting business transactions online.

What is a brand name?

A name, term, sign, symbol, design, or any other feature that allows consumers to identify the goods and services of a business and differentiate them from competitors.

What is market share?

The proportion of total sales in a particular market for which one or more businesses or brands are responsible, expressed as a percentage.

Explain the concept of a niche market.

A smaller market, usually within a large market or industry.

What are consumer panels?

Groups of customers asked for feedback about products over a period of time.

Describe market orientation.

An approach to business that places the needs of consumers at the center of the decision-making process.

Make Your Own Quizzes and Flashcards

Convert your notes into interactive study material.

Get started for free

More Quizzes Like This

Business Model Innovation: D2C Brands
10 questions
Brand Strategy Lesson 8
10 questions

Brand Strategy Lesson 8

NoiselessDatePalm avatar
NoiselessDatePalm
Use Quizgecko on...
Browser
Browser