Enterprise and Marketing LO1

A place where buyers and sellers come together to trade goods and services.

• Market

• Age

• Market Research

• Qulitative Data

A particular group of customers at which a good or service is aimed.

• Income

• Gender

• Target Market

• Promary research

Dividing the market in which a business operates into groups.

• Market Research

• Focus Group

• Market

• Market Segmentation

The ability of a business to keep customers.

• Customer Retention

• Market Share

• Market Segmentation

• Market Research

The section of a market controlled by a particular business.

• Customer Retention

• Focus Group

• Market

• Market Share

The actions of a business to gather information about needs and wants.

• Qualitative Data

• Quantitative Data

• Market Research

• Customer Retention

Gathering data and information that has not been collected before.

• Secondary Research

• Primary Research

• Qualitative Data

• Quantitative Data

Gathering data and information that has already been collected before.

• Secondary Research

• Primary Research

• Customer Retention

• Focus Group

Data based on the opinions of those being asked.

• Quantitative Data

• Market Research

• Primary Research

• Qualitative Data

Data collected that is based on facts or numbers.

• Qualitative Data

• Quantitative Data

• Market Segmentation

• Market Share