Integrated - It is involved in all important business decisions & considered an essential part of business, Market Opportunities - Includes new markets as well as ways to improve a company's offerings in current markets, Strategy - A plan identifies how a company expects to achieve its goal, Market Segment - A group of similar consumers within a larger market, Market Opportunity Analysis - Studying & prioritizing market segments to locate the segment with the best potential based on demand & competition, Target Market - A clearly defined segment of the market to which a business wants to appeal, Deceision - A choice among alternatives, Want - A culturally defined way the consumer can fill the need, Recognize - The way the typical purchasing process begins, Identify - This is considered the second stage of decision making, Evaluate - The consumer gathers information and has to do this to the choices, Decide - Something that has to be made once the consumer is comfortable with the evaluation, Assess - The final step in the process of decision making, Intense Competition - In this type of competition you have to examine your market mix, Limited Competition - In this type of competition you don't have to worry as much about price or even promotion, Monopolistic Competition - In this competition they have to find the market concept to be of most value,

Ch 4 Learning Game

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