unit 4


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market
is where buyers and sellers come together to trde products and information.
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market segmentatin
the division of potential consumer into groups with similar characteritics
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populatio structer
of a country is described by the proportion that fall within diffret age groups.
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basic product
provides for a limited number of needs.
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complex product
provides for a wide range of needs
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after-sales services
are provided to meet ongoing needs of customers and include features such as guarantees and information on using the product
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essential product
are seen as being vital to the wellbeig of customers, such as food and healtj care.
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non-essential product
poducts that are not vita to the wellbeing of a customer.
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closed questions
questions that require limited response such as "yes" or "no"
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open questions
requires a person to give their own response in their ow words such as an opinion
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fast-moving consumer goods
producst such as washing powder and baked beans that have high unit sales levels
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extrapolation
the process of using past data to predict furture data
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simple trend analysis
a method of etrapolation that assumes a simple linear pattern in the data
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time-series data
data plotted against months or years.
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database
a collection of record, often stored on a computer
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data mining
a technique used to analyse large databases in order to uncover previously hidden patterns in the data
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core product
describes the main purpose of the product
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actual product
the additional features provided by a product such as packaging brand name and features
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AUGMENTED PRODUCT
the support aspects of a product such as warranty, installation and personnel
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research and develpment
s systematic approach to product that draws on research into materials and production
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product range
the different varieties of products offered by a business
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Other cards in this set

Card 2

Front

market segmentatin

Back

the division of potential consumer into groups with similar characteritics

Card 3

Front

populatio structer

Back

Preview of the front of card 3

Card 4

Front

basic product

Back

Preview of the front of card 4

Card 5

Front

complex product

Back

Preview of the front of card 5
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