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| Question | Answer |
| Areas of interest | These are products and services, customers want to buy or are enquiring about |
| Benchmarking against the competition | Means checking how the business is performing and comparing with other businesses |
| Gaps in the market | Is a customer need that is not fully met yet by other businesses |
| Market research | Is the process of collecting and interpreting data abut customers, competitors and market trends by collecting Primary & Secondary data |
| Market segments | These are sub - groups of people or organisations that share certain characteristics which lead them to have similar needs |
| PESTLE analysis | Political Economic Social Technological Legal Environmental |
| Predictions | These relate to what can/could happen in the future |
| Primary research | Is original data obtained from customers or consumers |
| Qualitative research | Is based on opinions, beliefs and intentions |
| Quantitative research | Is based on numbers (how many...) |
| Saturated market | Is a market which is full of similar products which now have a little value to consumer |
| Secondary research | Is data that already exist elsewhere, so collecting this known as a desk research |
| Situational analysis | Is used by a business to look at its own position in the market assess, how it could be affected by trends and development |
| SWOT analysis | Strengths Weaknesses Opportunity Threats |
| Target customers | Is the customers that the business aims to supply |
| Target market | Specific group of customers the business aims to supply |
| Trends | Anything that is changing (population, life style, spending patterns...) |
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