Topic 1.2

Question 1

Demographics:

Answer 1

the study of the statistical
differences that exist within a population, both
now and in the future.

Question 2

Lifestyle:

Answer 2

grouping people by common
characteristics in how they live, from their
participation in sports and leisure to their views
on the environment, taste in music and even
nerdier things such as a passion for trains.

Question 3

Location:

Answer 3

the extent to which consumers identify with the place where they were born or grew up.

Question 4

Market segments:

Answer 4

the subsets within a market that have been identifi ed as a result of market
segmentation.

Question 5

(The) competition:

Answer 5

companies operating in your market or market sector.

Question 6

Gap in the market:

Answer 6

an area on a market map
where few or no existing brands operate,
implying a business opportunity to fi ll an unmet
consumer need.

Question 7

Market map:

Answer 7

measuring where existing brands
sit on a two-factor grid, for example young/old
compared with high price/low price.

Question 8

Competitive environment:

Answer 8

the strength of
competition between companies in the same
market.

Question 9

Innovative:

Answer 9

a new, perhaps original, product or
process.

Question 10

Unethical:

Answer 10

an action or decision that is wrong
from a moral standpoint.