Footfall =

• The wants and desires of buyers of a product or the customers of a business.

• The number of people entering a shop or shopping area in a given time

• The gathering of new information, called primary data, which has not been collected before.

• The person who ultimately uses (or consumes) a product.

Customer Needs = ???

• The wants and desires of buyers of a product or the customers of a business.

• Research involving asking questions of people or organisations.

• Those who provide data for a survey usually by answering questions in a questionnaire or interview.

• Information about opinions, judgements and attitudes.

Qualitative data = ???

• When the price is very important in the decision about whether or not to buy.

• Data that can be expressed as numbers and can be statistically analysed.

• A business which sells (or supplies) products to another business.

• Information about opinions, judgements and attitudes.

Quantitative data = ???

• Information about opinions, judgements and attitudes.

• Data that can be expressed as numbers and can be statistically analysed.

• Occurs when no business is currently serving the needs of customers for a particular product.

• A group of similar products made by a business like a number of different soap products.

Gap in the market = ???

• The idea/ impression/ image that customers have in their minds about the brand.

• Occurs when no business is currently serving the needs of customers for a particular product.

• Part of a market that contains a group of buyers with similar buying habits, such as age or income.

• The right given by one business to another to sell goods or services using its name.

Brand Image = ???

• The idea/ impression/ image that customers have in their minds about the brand.

• The line through the hierarchy that shows who is responsible for whom from top to bottom of an organisation.

• Setting the price of a product so that it is in line with competitors’ prices.

• The money spent by households on goods and services to satisfy their needs and wants.

Franchise = ???

• Individuals, businesses or organisations that purchase goods/services and make decisions about which supplier to choose.

• A person who owns and runs their own business and takes risks.

• The chance of damage or loss occurring as a result of making a decision.

• The right given by one business to another to sell goods or services using its name.

Price sensitive = ???

• Physical, tangible products like a car, a pair of scissors or a television set.

• When the price is very important in the decision about whether or not to buy.

• Right of ownership of an invention or process when it is registered with the government.

• Setting the price of a good or service at an amount higher than the cost of producing it so that a profit is made.

Contracts of employment = ???

• The reorganisation of the organisation’s employees so that there are fewer levels of management.

• Allocating a task to someone who would not normally be responsible for it.

• A legal document that sets out the terms and conditions of the job for the employer and the employee.

• Individuals who work full time or part time for the business; they have a contract of employment detailing their duties and rights.

Customer satisfaction = ???

• Individuals, businesses or organisations that purchase goods/services and make decisions about which supplier to choose.

• A business which sells (or supplies) products to another business.

• The person who ultimately uses (or consumes) a product.

• Whether customers are pleased with the goods/services they receive; whether they would purchase again.