5.1 Indentifying & Understanding Customers

Question 1

Exchange

Answer 1

When someone gives something up in return for something else eg: businesses exchange products for money

Question 2

Need

Answer 2

Something that needs to be fulfilled for us to survive

Question 3

Want

Answer 3

What we would like to have, or think we need, but can survive without it.

Question 4

Customer

Answer 4

Someone who buys a product from a business. Usually the customer is also the consumer.

Question 5

Consumer

Answer 5

Someone who uses a product or service produced by businesses. Usually they’re also the customer, but very often a consumer has goods which they didn’t buy themselves eg: children or people who were given gifts.