102 - Introduction to Market Research Flashcards
Annual Recurring Escalation Costs
Service or maintenance which involves increasing amounts of work
-escalate at a different rate than inflation
Annual Recurring Fixed Costs
Fixed payment service contracts with inflation adjustments
-preventative maintenance
Competition
Existence within a market for some good or service where no single participant has enough influence to determine the price
First
Investment, construction, and purchase costs
Future Investment
One time investments occurring after the start of the analysis period, non-annual maintenance or repair
Market Demand
Refers to how much of a product or service is desired by the market
Market Intelligence
The process and result of gathering and analyzing information about the aggregate forces at work in trade and commerce of a specific commodity
Market Research
Process of gathering and analyzing on industries, markets, and suppliers for the purpose of aligning an enterprise
Market Share Distribution
A company’s portion of sales in relation to the entire market in which it operates
Market Supply
Refers to how much the market can offer
Marketing
The activity, set of instructions, and processes for creating, communication, delivering, and exchanging offers for customers
Four P’s of Marketing: product, price, place, and promotion
Price
Reflection of supply and demand
Primary Market Research
Information that one conduct themself rather than that which is already published
Risk Analysis
Identification of possible negative external and internal conditions, events, or situations
Secondary Market Research
When information comes from secondary sources that already published and available
