Chapter 7 Market Research

The process of gathering data about people or companies and then analyzing it to better understand what that group of people needs.

• Market Research

• Demographics

• Behavioral Segmentation

• Target Market

A particular group of consumers at which a company aims its products and services.

• Market Research

• Demographics

• Behavioral Segmentation

• Target Market

The study of a population based on age, race, gender and education.

• Market Research

• Demographics

• Behavioral Segmentation

• Target Market

Analysis of consumers based on benefits, usage rates, and buying patterns.

• Market Research

• Demographics

• Behavioral Segmentation

• Target Market

The process of dividing a market into smaller segments based on demographic, behavioral, psychographic and geographical differences.

• Market Research

• Demographics

• Market Segmentation

• Target Market

Analysis of consumer based on personality, values, attitudes, interests and lifestyles.

• Psychographics

• Demographics

• Geographics

• Target Markets

Analysis of consumers based on local, national, international, and regional characteristics.

• Psychographics

• Demographics

• Geographics

• Target Markets

Data that describes certain distinctions based on some quality or characteristics.

• Quantitative Data

• Qualitative DAta

• Primary Research

• Secondary Research

Data that contains information regarding quantities, that can be measured and interpreted with numbers.

• Quantitative Data

• Qualitative DAta

• Primary Research

• Secondary Research

First-hand information that you gather yourself.

• Quantitative Data

• Qualitative DAta

• Primary Research

• Secondary Research