Chapter 9
decision maker
A customer role that describes a person in an organization who is responsible for choosing which product or service will be obtained
purchaser
A customer role that describes an individual or institution that pays for or obtains a product or service
end user
A customer role that describes the person who eventually makes actual use of a product or service in his or her personal or work life
customer profile
A detailed description of an archetypical or hypothetical potential customer for a product or service, also called a customer persona
ethnographic research
data gathered by simple observation - seeing what consumers do, rather than asking them
survey
data-collection method using a questionnaire - in person, on phone, on paper, or on the internet
focus group
form of data gathering from a small group, led by a moderator
Penetrated market (PM)
actual number of customers of an operating firm, divided by the size of the target market, which gives a percentage of the market the firm (or product/service) has attained so far
Total available market (TAM)
all of the people or organizations (in one nation, region, or the world) who might consider a product or service being offered
target market
group of people on which a marketer focuses promotion and sales efforts
value proposition
Small business owners' unique selling points (also known as benefits) that customers can expect from your goods or services, including benefits that differentiate your offering from those of the competition
purchasing process
The sequence of steps an individual or organization goes through in making a decision to buy a product or service
budget cycle
schedule and the process for setting the schedule for making purchases by an individual or an organization
influencer
A customer role describing a person or group who can make credible or recognized suggestions or recommendations to others regarding purchase choices
pivot
change of direction in the thinking of an entrepreneur or a firm, often based on new data or other findings
product
offered to the market to satisfy a consumer's wants, needs or demands
customer job
what a potential customer is trying to do—perform or complete some sort of task, solve some problem, or try to achieve some outcome
Serviceable available market (SAM)
customers within the geographic reach of a firm
me-too products
similar to products on market
Serviceable obtainable market (SOM)
(also called the target market) that represents the customers that a firm expects to be interested in its particular product or service, and able to be serviced by the firm