business 1
Study online at https://quizlet.com/_ghdnfc
1. Marketing identifying customer wants and satisfying them prof-
itably
2. Customer A person, business or other organisation that buys
goods from a business
3. Customer loyalty When existing customers repetitively buy \nproducts
from the same business
4. Customer relation- Communicating with customers to encourage them to
ships be loyal to the business and its products
5. Market share Percentage of total market sales held by one brand or
business
6. Consumer Someone who buys good or services for \npersonal
use
7. Mass market Where there is a very large number of sales of a
product
8. Niche market A small, usually specialised, segment of a larger mar-
ket
9. Market segment A part of the whole market where consumers have
certain characteristics or preferences
10. Market segmentation dividing the whole market into segments by consumer
characteristics and then targeting \ndifferent products
to each segment
11. Market made of up of the total number of customers and po-
tential customers, as well as sellers buying or selling
a good or service
12. Role of marketing - identify and satisfy customers wants profitably\n-
gain information on customers\n- maintain customer
loyalty\n- anticipate changes in customer demand
13.
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Study online at https://quizlet.com/_ghdnfc
1. Marketing identifying customer wants and satisfying them prof-
itably
2. Customer A person, business or other organisation that buys
goods from a business
3. Customer loyalty When existing customers repetitively buy \nproducts
from the same business
4. Customer relation- Communicating with customers to encourage them to
ships be loyal to the business and its products
5. Market share Percentage of total market sales held by one brand or
business
6. Consumer Someone who buys good or services for \npersonal
use
7. Mass market Where there is a very large number of sales of a
product
8. Niche market A small, usually specialised, segment of a larger mar-
ket
9. Market segment A part of the whole market where consumers have
certain characteristics or preferences
10. Market segmentation dividing the whole market into segments by consumer
characteristics and then targeting \ndifferent products
to each segment
11. Market made of up of the total number of customers and po-
tential customers, as well as sellers buying or selling
a good or service
12. Role of marketing - identify and satisfy customers wants profitably\n-
gain information on customers\n- maintain customer
loyalty\n- anticipate changes in customer demand
13.
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