Customers and Markets flashcards

0/18

18 cards remaining

Take the chapter practice test

All 18 cards in this deckShow

What is meant by “Customer interview” in this lesson?Customer Interviews and Observation: An interview gathers relevant experiences through carefully framed questions.
What is meant by “Open question” in this lesson?Customer Interviews and Observation: An open question invites an answer beyond a preset yes or no.
What is meant by “Leading question” in this lesson?Customer Interviews and Observation: A leading question steers respondents toward a preferred answer.
What is meant by “Observation” in this lesson?Customer Interviews and Observation: Observation records behavior within a defined context.
What is meant by “Sampling limitation” in this lesson?Customer Interviews and Observation: A limitation arises when respondents do not represent the intended population.
What is meant by “Behavioral evidence” in this lesson?Customer Interviews and Observation: Behavioral evidence records actions rather than hypothetical enthusiasm alone.
What is meant by “Market segment” in this lesson?Segments and Market Validation: A segment groups customers by relevant shared needs or characteristics.
What is meant by “Target customer” in this lesson?Segments and Market Validation: A target customer is the group selected for the offering and research.
What is meant by “Market size estimate” in this lesson?Segments and Market Validation: An estimate calculates potential demand under explicit definitions and assumptions.
What is meant by “Reachable market” in this lesson?Segments and Market Validation: A reachable market considers practical access, channels, geography, and constraints.
What is meant by “Demand validation” in this lesson?Segments and Market Validation: Validation gathers evidence about actual willingness and ability to obtain an offering.
What is meant by “Customer diversity” in this lesson?Segments and Market Validation: Diversity means customers within a segment can still differ in preferences and constraints.
What is meant by “Direct competitor” in this lesson?Competition and Positioning: A direct competitor offers a similar solution to a similar customer group.
What is meant by “Indirect competitor” in this lesson?Competition and Positioning: An indirect competitor addresses the same need through a different offering.
What is meant by “Competitive advantage” in this lesson?Competition and Positioning: An advantage is a valued capability or feature relative to relevant alternatives.
What is meant by “Differentiation” in this lesson?Competition and Positioning: Differentiation makes an offering distinct in meaningful attributes.
What is meant by “Positioning” in this lesson?Competition and Positioning: Positioning defines the intended place of an offering relative to customer needs and alternatives.
What is meant by “Competitive evidence” in this lesson?Competition and Positioning: Evidence supports comparisons rather than relying on unsupported superiority claims.