Fill in the Blanks CIPS L4M2 - Chapter 2 Rev 1Online version Chapter 2 by Celeste McGill 1 budget revenue create expected financial specific Managing expenses and is easier for companies that a outlining costs and income for a period . 2 first Among influence trends innovators the to adopt new products or services , can help market . 3 services spending procurement matrix Kraljic The is a strategic tool used to analyse and prioritize a company's on goods and . 4 slow products market waiting Laggards become are consumers who are to adopt new or services , often until they widely accepted in the . 5 patterns fit help identify trends statistical The line of best is a tool used to and in a data set . 6 majority services middle majority who consumers adopters The is the group of adopt new products or after the innovators and early , but before the late and laggards . 7 demand purchasing order patterns habit By analysing , companies can identify trends in customer behaviour , such as changes in or shifts in 8 with associated price premium exclusivity A is a higher - than - average price charged for a product or service , often higher quality or . 9 used and replaced as introduction product eventually life cycle The is a model to describe the stages a product goes through , from to decline , it is adopted by newer products . 10 marketing leading Rivalry aggressive operating competition is the that exists between companies in the same market , often to tactics and price wars . 11 alternative potentially products Substitutes offerings share are or services that can be used in place of a company's , impacting demand and market . 12 select process bidding tendering process request involving The is used to a vendor or supplier for a specific project , often a for proposal and a competitive .
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