Recognizing opportunities - Industry analysis - Customers
9 important questions on Recognizing opportunities - Industry analysis - Customers
What kind of information is gathered to do market research?
- Characteristics of the market
- Potential of the market (calculation: max. level of sales a segment van absorb)
- Market segment (group with similar wants and needs)
- Market structure (B2C or B2B)
What is calculated in a sales forecast?
Why are B2B (business to business) more expensive than B2C products?
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What in the function of decision-making units (DMU)?
What kind of strategies do producers use in the problem definition phase of the innovation loop model?
- Technology push (application of new technology is introduced into market without market research)
- Market pull (consumers ask for a new product or solution which is identified by market research)
What issues are ignored during a technology push (perfection syndrome)?
- Decision-making processes of consumers
- Satisfaction levels concerning existing products
What is often the result of the market pull approach in the problem definition phase?
What describes the customer buying cycle (CBC), and what are the 4 stages?
- Awareness phase (customer realizes needs - company tries to reach costumer)
- Evaluation phase (customer selects companies for solution - company provides information for evaluation)
- Purchase phase (transaction takes place)
- After-sales phase (companies strive to create loyalty among customers)
Why is the customer buying cycle a cycle?
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