Market Flashcards
The overall activities,
transactions, and trading
between buyers and sellers
on a certain area or place.
Market
The worth, expense, and
cost of the goods sold in
accordance with market
dynamics of supply and
demand.
Market
The evaluation, monitoring, and dissemination of information from the internal and external surroundings to important individuals inside the company
Environmental scanning
A tactical strategy of marketing that aims to
determine the target market for a certain product. The business will be helped by three strategic marketing strategies in identifying the target market for the product.
Market Identification
Divides the market into small segments beased
Segregation
Determine the set
customers or buyers
with a common needs
and characteristics.
Targeting
Occupying a certain
place where to place
the business
Positioning
Assess and identify the
attractiveness of business
opportunity.
Market Analysis
is a systematic process that examines what criteria must be met in order to reach a desired outcome.
needs assessment
A method used to compare their current performance with their desired or expected performance
Gap Analysis
—used by some venture capitalists has proven to be very beneficial. It will
frequently be helpful to organize the concepts that emerge into groups, then choose from each group.
NABC Approach
A concise statement of the benefits that a company is delivering to customers who buy its products or services. It serves as a declaration of intent, both inside
the company and in the marketplace
Value Proposition
A framework which can help
ensure that a product or
service is positioned
around what the customer
values and needs
Value Proposition Canvas
The functional, social and emotional
tasks customers are trying to
perform.
Customer Jobs
The negative experiences, emotions
and risks that the customer
experiences
Pains
The benefits which the customer
expects and needs
Gains
underpin the creation of value
for the customer
Products and Services
How the product or service
offers added value to the customer.
Gain Creators
How the product or service
alleviates customer pains.
Pain relievers
A COMPANY’S PLAN FOR MAKING A PROFIT
Business Model
types of Business Model
Retailer, Distributor, Manufacturer, Franchise
Most common; last entity in
the supply chain
Retailer
The one who creates the
product
Manufacturer
One of the middle points
between the manufacturer
and general public
Distributor
Involves any other business
model
Franchise
means putting yourself in the right
market with a product or service that the
market is satisfied with.
problem market fit
