Business Fundamentals

Front

Businesses must continually improve the value they offer

Back

To keep up with changing customer needs and stay competitive.

Front

Businesses can tell if customers like their products

Back

By knowing how much profit they are making and analyzing customer purchases.

Front

Consumer wants and needs

Back

Change over time.

Front

Purchasing decisions

Back

Wants should not always come first.

Front

Work done for other people for money (non-tangible).

Back

Services

Front

Things that a person must have fulfilled in order to survive.

Back

Needs

Front

The individual who pays for a good or service.

Back

Customer

Front

Things that a person thinks he or she must have in order to be satisfied.

Back

Wants

Front

The money businesses get to keep after paying off expenses.

Back

Profit

Front

A business that sells to another business.

Back

Supplier