Business Studies-Marketing and people

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Value
The total amount spent on customers buying products
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Brand value
A name, term, sign, symbol, design which allows consumers to identify the goods and services of a business and to differentiate them from competitors
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E-Commerce
Conducting business transactions online
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Market
A set of arrangement that allows buyers and sellers to communicate and trade particular range of goods and services
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Marketing
A management process involved in identifying anticipating and satisfying customer requirements profitably
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Market share
the number of total sales in a market for which one or more businesses or brands are responsible ( calculated as a percentage )
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Mass market
a very large market in which products with mass appeal are targeted
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Niche market
a small market usually within a large market or industry
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Consumer panels
groups of customers are asked to give feedback about products over a short period of time
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Database
An organised collection of data stored electronically with instant access, searching and sorting facilities
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Focus groups
where a number of customers are invited to attend a discussion about product led market research
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Market orientation
an approch to business which places the needs of customers at the centre of the discussion-making process
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Market research
The collection, presentation and analysis of information relating to the marketing and consumption of goods and services
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Market segement
Part of a whole market where are particular customer group has similar characteristics
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Primary Research
gathering information that does not already exists
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Product orientation
an up approach to a business which places the emphasis upon the production process and the production itself
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Qualitative resarch
the collection of data about attitudes beliefs and intensions
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Quantitative research
the collection of data that can be quantified
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Respondent
a person or organisation that answers questions in a survey
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sample
a small group of people who must represent a proportion of a total market when carrying out market research
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secondary research
the collection of data which is already in existence
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socio- economic groups
division of people due to social class
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Card 2

Front

Brand value

Back

A name, term, sign, symbol, design which allows consumers to identify the goods and services of a business and to differentiate them from competitors

Card 3

Front

E-Commerce

Back

Preview of the front of card 3

Card 4

Front

Market

Back

Preview of the front of card 4

Card 5

Front

Marketing

Back

Preview of the front of card 5
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