Chapter 10 Marketing, competition & the customer

A _________ is a small, usually specialised, segment of a much larger market.

• Niche market

• Mass market

• Market share

• Market segment

A person who buys goods or services for personal use.

• Consumer

• Customer

• Business

• Market

_____________ is identifying customer wants and satisfying them profitably.

• Market share

• Niche market

• Marketing

• Mass market

A ___________ is a person, business or other organisation which buys goods or services from a business.

• consumer

• customer

• business

• market

____________ is when existing customers continually buy products from the same business.

• Customer loyalty

• Customer relationships

• Consumer

• Market share

_____________ is communicating with customers to encourage them to become loyal to the business and its products.

• Customer loyalty

• Customer relationships

• Consumer

• Market share

_____________ is the percentage of total market sales held by one brand or business.

• Niche market

• Market share

• Mass market

• Marketing

_________ is when the financial return is worth the expenditure.

• Cost effective

• Customer loyalty

• Customer relationships

• Customer

___________ is when existing customers continually buy products from the same business.

• Customer loyalty

• Customer relationship

• Consumer

• Customer

______________ is communicating with customers to encourage them to become loyal to the business and its products.

• Customer relationships

• Customer loyalty

• Mass marketing

• Niche marketing