Section 1

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Define: Business
A buisness is an organisation which produces goods and services.
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Define: Goods
Physical products which people can touch and see.
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Define: Service
Non-physical services.
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Define: A market
A placxe in which buyers and sellers meet to exchange products and services.
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Define: Customer Needs
The wants and desires of buyers of a particular product or a business.
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Define: Market Research
The process of gaining information about customers, competititor and market trends through the collection of primary and secondary research.
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Define: Primary Research
The gathering of new information or information that has not been published.
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Define: Secondary Research
The process of gathering data which is information already been gathered or information that has been published.
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Define: Survey
Research involving asking question of people or organisation.
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Define: Respondents
Those who provide data for a survey usually by answering questions in a questionnaire or interview.
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Define: Questionnaire
A list of questions to be answered by respondents, designed to gather information about consumers' tastes.
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Other cards in this set

Card 2

Front

Physical products which people can touch and see.

Back

Define: Goods

Card 3

Front

Non-physical services.

Back

Preview of the back of card 3

Card 4

Front

A placxe in which buyers and sellers meet to exchange products and services.

Back

Preview of the back of card 4

Card 5

Front

The wants and desires of buyers of a particular product or a business.

Back

Preview of the back of card 5
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