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13 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Markets |
Group of customers who purchases products and services from sellers. Defind by market need not grouped consumers |
Portable and convenient computing power |
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Potential Market |
All customers in the population who have interest in acquiring a product or service |
Car Buyers |
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Available Market |
Interested customers with the means/resources to purchase product |
$65,000 household income |
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Qualified Available Market |
Have qualifications in addition to the resources to purchase product |
Credit check |
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Served Market |
Market or segments the company chooses to target |
Sports players, 35-53, male, income >$65,000 |
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Industry |
Group of sellers that produce products/services that customers find similar |
Appliances |
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Category |
Subset of an industry. A group of competing firms selling to the same market segment |
High end appliances |
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Primary Research |
Completed directly by researcher involving surveys |
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Advantages of Primary Research |
Current Accurate Relevant |
CAR |
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Disadvantages |
Time consuming Expensive Difficult |
TED |
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Stakeholders for Market Sizing |
Market Dept Operations Dept (internal manufacturing) Distribution Channels (wholesalers, broker) Financial Services (banks, venture capitalists) |
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How Market Sizing Used |
Marketing Investment Market Segments Market Share Adoption Rate Life Cycle Market Trends Sales Forecasts Sales Force Sizing Distribution Channels |
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Market Sizing Formulas |
Uses secondary data sources Top Down Method Bottom Up Method Assigns weights to each |
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