chapter 5,6,7 Flashcards
Analyze the questions “will i be able to manage, to my advantage, the critical success factors and avoid critical failure favtors
opportunity seizing
Options or directions in coming up with a product/service concept
- ) the first to create a concept similar to the winning products in the marketplace and ride with the obvious market trends
- ) the second is to find a market nich that has not be filed by competitors
- ) the third is conceptualize a product in a positioning category where the participants are rather weak
- ) the fourth is to conceptualize a product that would change the way customers think, behave, and buy, thus making existing products “obsolete” and “old-fashioned”
means that the entrepreneur must render the concept and translate it into its very physical and very real dimensions(____)
Designing
Measurement
entails building a prototype of the product and testing
designing, prototyping, and testing the product
investing, organizing, and financing
- ) choose the correct technology, the one that would produce output that would meet the quality and specification of the customers`
- ) choose the right people who can perform the technical and the managerial functions necessary to realize the desired end results
- ) design the operating workflow that would assure the effective, economical, and effecient production of the output
- ) specify the systems and procedures that would govern the enterprise, motivate the work force, and satisfy the customers
data can be logically arranged chronologically; can be further grouped into intervals or sub classified into small groups
sales data mining
histogram or bar graphs
frequency polygon
sales data mining
consists of series of rectangles or bars
pie chart
histogram or bar graphs
constructed by marking the frequencies on the veritcal axis with a dot corresponding to the values on the horizontal axis
frequency polygon
circular graph divided into section that reprsent the relative frequencies or magnitudes of the grouped values
pie chart
address siubstantive issues such as ; understanding customer perception, obtaining impressions on new product concepts; generating new ideas about older products
FGD
developing creative concepts and c`opy material for advertisements; securing price impressions; obtaining preliminary consumer reaction to specific marketing programsq
fdg
interview by a facilitator of a small group of people who are selected because of their knowledge of their topic
fgd
observations conducted must be documented and tallied for proper analysis later on
observation technique
respondents are asked a variety of questions of which are about their personal information, their motivation, and their behaviors
survey research
we categorize customers into the ff: age income classes social classes ethnic backgroumd religious beliefs occupatkions domiciles
demographics
defines customer's motivations perceptions preferences lifestyle
psychographics
classifies people according to their level of expertise in using a product or a service.
technographics
refers to grouping customers and products according to certain market variables
market mapping
to provide a better analyst a better understanding of the market as a whole
market mapping
allows the e to discover market segments that are relatively unserved or underserved
market mapping
forming a mental image or new idea about the future
creativity
offering unique ways to solve defined problems
critical thinking
developing relationships with the right partners to attain objectives
collaboration
