Market analysisA market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses the strengths, weaknesses, opportunities and threats (SWOT) of a company can be identified. Finally, with the help of a SWOT analysis, adequate business strategies of a company will be defined.
EntrepreneurshipEntrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones. An entrepreneur is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as "entrepreneurship".
Market researchMarket research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.
Target marketA target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service. The target market typically consists of consumers who exhibit similar characteristics (such as age, location, income or lifestyle) and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service by OCHOM Once the target market(s) have been identified, the business will normally tailor the marketing mix (4 Ps) with the needs and expectations of the target in mind.
Market segmentationIn marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on shared characteristics. In dividing or segmenting markets, researchers typically look for common characteristics such as shared needs, common interests, similar lifestyles, or even similar s.
Theory of the firmThe theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behaviour, structure, and relationship to the market. Firms are key drivers in economics, providing goods and services in return for monetary payments and rewards. Organisational structure, incentives, employee productivity, and information all influence the successful operation of a firm in the economy and within itself.
CustomerIn sales, commerce, and economics, a customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product or an idea - obtained from a seller, vendor, or supplier via a financial transaction or exchange for money or some other valuable consideration. Early societies relied on a gift economy based on favours. Later, as commerce developed, less permanent human relations were formed, depending more on transitory needs rather than enduring social desires.
G-type main-sequence starA G-type main-sequence star (spectral type: G-V), also often, and imprecisely called a yellow dwarf, or G star, is a main-sequence star (luminosity class V) of spectral type G. Such a star has about 0.9 to 1.1 solar masses and an effective temperature between about 5,300 and 6,000 K. Like other main-sequence stars, a G-type main-sequence star converts the element hydrogen to helium in its core by means of nuclear fusion, but can also fuse helium when hydrogen runs out.
A-type main-sequence starAn A-type main-sequence star (A) or A dwarf star is a main-sequence (hydrogen burning) star of spectral type A and luminosity class (five). These stars have spectra defined by strong hydrogen Balmer absorption lines. They measure between 1.4 and 2.1 solar masses () and have surface temperatures between 7,600 and 10,000 K. Bright and nearby examples are Altair (A7), Sirius A (A1), and Vega (A0). A-type stars do not have convective zones and thus are not expected to harbor magnetic dynamos.
B-type main-sequence starA B-type main-sequence star (B V) is a main-sequence (hydrogen-burning) star of spectral type B and luminosity class V. These stars have from 2 to 16 times the mass of the Sun and surface temperatures between 10,000 and 30,000 K. B-type stars are extremely luminous and blue. Their spectra have strong neutral helium absorption lines, which are most prominent at the B2 subclass, and moderately strong hydrogen lines. Examples include Regulus and Algol A.
