Chapter 7 Vocabulary Flashcard

Front

The maximum number of companies an industry can support based on its potential customer base.

Back

carrying capacity

Front

Any social, economic, or political factors that could impact your business.

Back

business environment

Front

An organized way to gather and analyze information needed to make business decisions.

Back

Market research

Front

A group of potential customers—people or businesses—who are willing and able to purchase a particular product or service.

Back

market

Front

The customer profile might include such details as company size, type of industry, and geographical location.

Back

business-to-business (B2B) company

Front

What type of company has a customer profile that includes characteristics such as age, gender, occupation, and neighborhoods where consumers live?

Back

business-to-consumer (B2C) company

Front

This is a detailed description of your target market’s characteristics.

Back

customer profile

Front

A limited number of customers who are most likely to buy the product or service.

Back

target market

Front

Attempting to sell your product or service to as many customers as possible.

Back

mass market

Front

A grouping of consumers or businesses within a particular market that has one or more things in common.

Back

market segment