ENTP 9

penetrated market

Your actual number of customers divided by the target market tells us how much of the market you have attained so far, and how many people are available to be sold to.

Tangibility

An item capability of being touched, seen, tasted, or felt.

Augmented product

Entire bundle of products, services and meanings of your offering: includes extra like service, warranty or delivery as well as what the product means to the customer

Focus group

A form of data gathering from a small group led by a moderator

Inseparability:

A quality of a service in which the service being done cannot be disconnected from the provider of the service.

heterogeneity

A quality of service in which each time it is different fromm the previous time.

Ethnographic research:

Data gathered by simple observation- seeing what customers do, rather than asking them.

Pivot

Describing a change of direction in the thinking of an entrepreneur or a firm, often based on new data or other findings.

Total available

Everyone that may consider the product or service you are offering

Product development versus customer development

PD: The procedure to organize and pursue the creation of new goods or services. (The approach where the entrepreneur comes up with the udea on his or her own) (the focus on the product itself) CD: The procedure to organize and pursue the finding, obtaining and keeping of new customers. (the approach based on discussions with others) (process on focusing on the customer, meeting the need of the customer,

Value proposition:

Small business owners unique selling points that a customers can expect from your goods and services, including benefits that differentiate your offering from those of the competition.

serviceable obtainable,

Target Market and represents the customers that you think would be interested in your particular product or service. This is almost always first based on the pains they are suffering or gains they aspire to acquire but it can also be refined by other demographic, attitudinal, or behavioral qualities like their income, their fashion sense, their participation in particular activities or even being close by.

Core product

The basic description of what a product is- a bar soap, a housecleaning service, and so on

perishability

When you pay for a service or product you have to use them right away if not you can't take their service another time. Like an airplane ticket, you don't use it then it expires. Another example is having a hotel without used for one day, you lost revenue on that day.

serviceable available

customers within your geographic reach. If you depend on local traffic, it might be your neighborhood, city or region.