IB Chapter 12
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12 terms
Terms | Definitions |
|---|---|
 Market Screening | A version of environmental scanning in which the firm identifies desirable markets by using the environmental forces to eliminate the less desirable markets |
| Environmental Scanning | A procedure in which a firms scans the world for changes in the environmental forces that might affect it |
| Country Screening | Using countries as the basis for market selection |
| Segment Screening | Using market segments as the basis for market selection |
| Market Indicators | Economic data used to measure relative market strengths of countries or geographic areas |
| Market Factors | Economics data that correlate highly with market demand for a product |
| Estimation by Analogy | Process of using a market factor that is successful in one market to estimate demand in a similar market |
| Trend Analysis | Statistical technique by which successive observations of a variable at regular time intervals are analyzed to establish regular patterns that are used for establishing future values |
| Cluster Analysis | Statistical technique that divides objects into groups so that the objects within each group are similar |
| Trade Mission | A group of businesspeople and/or government officials (state or federal) that visit a market in search of business opportunities |
| Trade Fair | A large exhibition, generally held at the same place and same time periodically, at which companies maintain booths to promote the sale of their products |
| Social Desirability Bias | The custom of politeness toward everyone that can cause respondents to give answers calculated to please the interviewer rather than to reflect the respondent's true beliefs or feelings |
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