M&P - Meeting customer needs Flashcards
1
Q
What’s e-commerce?
A
The buying and selling of goods and services over an electronic network such as a computer
2
Q
What’s the market?
A
A set of arrangements that allows buyers and sellers to communicate and trade in a particular range of goods and services
3
Q
What’s market share?
A
A proportion of total sales in a market
4
Q
What’s mass market?
A
Large customer scale where FMCG are sold such as cereal
5
Q
What’s niche market?
A
A segmented market where bespoke products are sold
- Premium prices are charged
