Unit 3 Flash cards

Unit 3 Flash cards

Assessment

Flashcard

Business

9th - 11th Grade

Easy

Created by

Bhargavi Besthamalli

Used 2+ times

FREE Resource

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23 questions

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1.

FLASHCARD QUESTION

Front

What is the definition of a customer?

Back

A person, business, or other organization which buys goods or services from a business.

2.

FLASHCARD QUESTION

Front

What is customer loyalty?

Back

Existing customers continually buy products from the same business.

3.

FLASHCARD QUESTION

Front

What is market share?

Back

The percentage of total market sales held by one business.

4.

FLASHCARD QUESTION

Front

What is niche market?

Back

a small, usually specialised, segment of a much larger market.

5.

FLASHCARD QUESTION

Front

What is Market segmentation?

Back

identifiable sub-group of a whole market in which consumers have similar characteristics or preferences.

6.

FLASHCARD QUESTION

Front

Product oriented business

Back

business is one whose main focus of activity is on the product itself.

7.

FLASHCARD QUESTION

Front

What is primary research?

Back

the collection and collation of original data via direct contact with potential or existing customers. (Also called field research.)

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