Chapter 10 Flashcards
1
Q
Marketing
A
Identifying and meeting the needs of customers.
2
Q
Market share
A
The proportion % of total market sales held by one brand or business
3
Q
Customer loyalty
A
The willingness of customers to continue to buy the same product from the same business
4
Q
Customer relationship
A
Communication with customers to encourage them to become loyal to the business and its product
5
Q
Mass market
A
Where there is a large number of sales of a product
6
Q
Niche market
A
A small specialised segment of a large market
7
Q
Market segment
A
Identifiable sub-group of a whole market in which consumers have similar characteristics or preferences.
