Marketing, Competition and the Customer

Front

What is a market?

Back

All customers and consumers who are interested in buying a product and have the financial resources to do so.

Front

Define target market.

Back

Individuals or organizations identified by a business as the customers or consumers of their products.

Front

Who is a customer?

Back

An individual or business that buys goods and services from a business.

Front

What is a consumer?

Back

The final user of a product.

Front

What are consumer markets?

Back

Markets for goods and services bought by the final users.

Front

What are industrial markets?

Back

Markets for goods and services bought by other businesses to use in their production process.

Front

What is the business environment?

Back

The combination of internal and external factors that influence the operations of a business.

Front

What is a customer base?

Back

The group of customers a business sells its products to.

Front

What is the main role of marketing?

Back

To identify and satisfy customer needs.

Front

How can marketing maintain customer loyalty?

Back

By creating a good relationship with customers and building a customer base.