BS11 The Marketing Environment Key Terms
- Created by: KiranBawa
- Created on: 20-05-17 13:40
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Clues
- are any monetary or non-monetary action which makes trade between nations more difficult. (8, 2, 5)
- are developments in technology that alter the ways in which businesses produce and/or sell products. EG: internet tech has made it easier to sell products to consumers directly. (13, 6)
- are factors that make it difficult for new businesses to enter a market. (8, 2, 5)
- involves gathering info directly from customers within the target market. (7, 8)
- involves gathering info from already published data such as gov stats (9, 8)
- is a measure of the n.o of people who are out of work and are actively seeking employment. (12, 5)
- is a UK gov body that seeks to protect the consumer from anti-competitive practices. It can impose sig. fines on businesses harming consumer interests through anti-competitive practices, E.G: restricting supply or fixing prices at a high level. (6, 2, 4, 7)
- is the systematic collection and analysis of data to enable a business to make better marketing decisions. (6, 8)
- is the tendency for customers to make repeat purchases of products that they are familiar with and trust. (8, 7)
- occurs in a market in which there are many businesses relative to the size of the market. All businesses sell similar products, with little product differentiation evident. (7, 11)
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