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Business Technology

This document outlines strategies for identifying and analyzing target markets using key concepts in market research. It emphasizes the importance of defining target market segments that are measurable, sizable, and reachable. The content covers methods for researching customers' buying interests, including demographics, psychographics, and geographic elements. Additionally, it discusses how to analyze competition and the significance of primary and secondary data collection methods, guiding readers in choosing effective strategies for their businesses.

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Business Technology

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  1. Business Technology Mr. Bernstein DECA, pp 4-8 and 10-14: 1.1 Target Market, 1.2 Market Research September 16, 2013

  2. Business TechnologyMr. Bernstein Target Market A group of individuals or companies willing and able to buy a particular product Target market segment should be measurable Segment should be large enough to be profitable Segment should be reachable

  3. Business TechnologyMr. Bernstein Finding Your Customers Identify Why There is Buying Interest – What Are the Features and Benefits They Desire? Segment the Target Market – Demographics, Psychographics, Geographicsand Buying Characteristics Research Your Customer

  4. Business TechnologyMr. Bernstein Analyzing the Competition Visiting and Observing Asking Around Viewing Advertisements

  5. Business TechnologyMr. Bernstein Market Research Leads to Market Analysis Primary Data Surveys – Written, Oral, Online Observation, Experimental Methods Secondary Data – Already Collected Elsewhere Business Publications Government Agencies

  6. Business TechnologyMr. Bernstein Market Research Leads to Market Analysis Which method of segmenting markets do you think will be most helpful in identifying target markets for the Dog House? Which type of data do you think will be most useful in identifying target markets for the Dog House – Primary or Secondary?

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