Small Business Encyclopedia
Category: Market-researchDemographics
A statistical view of a population, generally including age, gender, income, schooling, occupation and so on
Market Research
The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face
Market Surveys
The study of the spending characteristics and purchasing power of the consumer who are within your business's geographic area of operation; a research method for defining the market parameters of a business.
Market Testing
To test multiple marketing scenarios and select the most promising for expansion.
Target Market
A specific group of consumers at which a company aims its products and services
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