unit 4 0.0 / 5 ? Applied Businesskey words ASAQA Created by: cheesy cakesCreated on: 01-05-14 21:09 market is where buyers and sellers come together to trde products and information. 1 of 21 market segmentatin the division of potential consumer into groups with similar characteritics 2 of 21 populatio structer of a country is described by the proportion that fall within diffret age groups. 3 of 21 basic product provides for a limited number of needs. 4 of 21 complex product provides for a wide range of needs 5 of 21 after-sales services are provided to meet ongoing needs of customers and include features such as guarantees and information on using the product 6 of 21 essential product are seen as being vital to the wellbeig of customers, such as food and healtj care. 7 of 21 non-essential product poducts that are not vita to the wellbeing of a customer. 8 of 21 closed questions questions that require limited response such as "yes" or "no" 9 of 21 open questions requires a person to give their own response in their ow words such as an opinion 10 of 21 fast-moving consumer goods producst such as washing powder and baked beans that have high unit sales levels 11 of 21 extrapolation the process of using past data to predict furture data 12 of 21 simple trend analysis a method of etrapolation that assumes a simple linear pattern in the data 13 of 21 time-series data data plotted against months or years. 14 of 21 database a collection of record, often stored on a computer 15 of 21 data mining a technique used to analyse large databases in order to uncover previously hidden patterns in the data 16 of 21 core product describes the main purpose of the product 17 of 21 actual product the additional features provided by a product such as packaging brand name and features 18 of 21 AUGMENTED PRODUCT the support aspects of a product such as warranty, installation and personnel 19 of 21 research and develpment s systematic approach to product that draws on research into materials and production 20 of 21 product range the different varieties of products offered by a business 21 of 21
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