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.
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.
Market (economics)In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.
Mobile phone trackingMobile phone tracking is a process for identifying the location of a mobile phone, whether stationary or moving. Localization may be affected by a number of technologies, such as the multilateration of radio signals between (several) cell towers of the network and the phone or by simply using GNSS. To locate a mobile phone using multilateration of mobile radio signals, the phone must emit at least the idle signal to contact nearby antenna towers and does not require an active call.
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.
Mass marketThe term "mass market" refers to a market for goods produced on a large scale for a significant number of end consumers. The mass market differs from the niche market in that the former focuses on consumers with a wide variety of backgrounds with no identifiable preferences and expectations in a large market segment. Traditionally, businesses reach out to the mass market with advertising messages through a variety of media including radio, TV, newspapers and the Web.
Mobile phoneA mobile phone (or cellphone) is a portable telephone that can make and receive calls over a radio frequency link while the user is moving within a telephone service area, as opposed to a fixed-location phone (landline phone). The radio frequency link establishes a connection to the switching systems of a mobile phone operator, which provides access to the public switched telephone network (PSTN). Modern mobile telephone services use a cellular network architecture and therefore mobile telephones are called cellphones (or "cell phones") in North America.
GPS tracking unitA GPS tracking unit, geotracking unit, satellite tracking unit, or simply tracker is a navigation device normally on a vehicle, asset, person or animal that uses satellite navigation to determine its movement and determine its WGS84 UTM geographic position (geotracking) to determine its location. Satellite tracking devices may send special satellite signals that are processed by a receiver. Locations are stored in the tracking unit or transmitted to an Internet-connected device using the cellular network (GSM/GPRS/CDMA/LTE or SMS), radio, or satellite modem embedded in the unit or WiFi work worldwide.
PricingPricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and quality of product. Pricing is a fundamental aspect of product management and is one of the four Ps of the marketing mix, the other three aspects being product, promotion, and place.
Survey methodologySurvey methodology is "the study of survey methods". As a field of applied statistics concentrating on human-research surveys, survey methodology studies the sampling of individual units from a population and associated techniques of survey data collection, such as questionnaire construction and methods for improving the number and accuracy of responses to surveys. Survey methodology targets instruments or procedures that ask one or more questions that may or may not be answered.
Sensitivity analysisSensitivity analysis is the study of how the uncertainty in the output of a mathematical model or system (numerical or otherwise) can be divided and allocated to different sources of uncertainty in its inputs. A related practice is uncertainty analysis, which has a greater focus on uncertainty quantification and propagation of uncertainty; ideally, uncertainty and sensitivity analysis should be run in tandem.
Economic modelIn economics, a model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. A model may have various exogenous variables, and those variables may change to create various responses by economic variables.
Location-based serviceA location-based service (LBS) is a general term denoting software services which use geographic data and information to provide services or information to users. LBS can be used in a variety of contexts, such as health, indoor object search, entertainment, work, personal life, etc. Commonly used examples of location based services include navigation software, social networking services, location-based advertising, and tracking systems. LBS can also include mobile commerce when taking the form of coupons or advertising directed at customers based on their current location.
Satellite navigation deviceA satellite navigation device, satnav device or satellite navigation receiver is a user equipment that uses one or more of several global navigation satellite systems (GNSS) to calculate the device's geographical position and provide navigational advice. Depending on the software used, the satnav device may display the position on a map, as geographic coordinates, or may offer routing directions. four GNSS systems are operational: the original United States' Global Positioning System (GPS), the European Union's Galileo, Russia's GLONASS, and China's BeiDou Navigation Satellite System.
Market structureMarket structure, in economics, depicts how firms are differentiated and categorised based on the types of goods they sell (homogeneous/heterogeneous) and how their operations are affected by external factors and elements. Market structure makes it easier to understand the characteristics of diverse markets. The main body of the market is composed of suppliers and demanders. Both parties are equal and indispensable. The market structure determines the price formation method of the market.
Supply and demandIn microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, in a competitive market, the unit price for a particular good, or other traded item such as labor or liquid financial assets, will vary until it settles at a point where the quantity demanded (at the current price) will equal the quantity supplied (at the current price), resulting in an economic equilibrium for price and quantity transacted.
Expected valueIn probability theory, the expected value (also called expectation, expectancy, expectation operator, mathematical expectation, mean, average, or first moment) is a generalization of the weighted average. Informally, the expected value is the arithmetic mean of a large number of independently selected outcomes of a random variable. The expected value of a random variable with a finite number of outcomes is a weighted average of all possible outcomes. In the case of a continuum of possible outcomes, the expectation is defined by integration.
Cell siteA cell site, cell phone tower, cell base tower, or cellular base station is a cellular-enabled mobile device site where antennas and electronic communications equipment are placed (typically on a radio mast, tower, or other raised structure) to create a cell, or adjacent cells, in a cellular network. The raised structure typically supports antenna and one or more sets of transmitter/receivers transceivers, digital signal processors, control electronics, a GPS receiver for timing (for CDMA2000/IS-95 or GSM systems), primary and backup electrical power sources, and sheltering.
Radio propagationRadio propagation is the behavior of radio waves as they travel, or are propagated, from one point to another in vacuum, or into various parts of the atmosphere. As a form of electromagnetic radiation, like light waves, radio waves are affected by the phenomena of reflection, refraction, diffraction, absorption, polarization, and scattering. Understanding the effects of varying conditions on radio propagation has many practical applications, from choosing frequencies for amateur radio communications, international shortwave broadcasters, to designing reliable mobile telephone systems, to radio navigation, to operation of radar systems.
