ANALYZING THE MARKET

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7 Terms

1
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basic neccessity

needs

2
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desire; given choices → what you prefer

wants

3
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want supported by decision and capacity to buy

demand

4
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how to know market demand

  • observe trends

  • look at competitors

  • check online data

  • ask costumers

  • test with small market

5
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asking questions to people to learn what they like/need/want abt a business

market survey

6
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how to create market survey

  1. decide what you want to know

  2. make short and clear questions

  3. ask right people

  4. record their responses

7
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things popular / in demand in the market right now

market trend