Difference between customer expectations and actual service received

The capability to produce products or services more efficiently and economically than the competition

Purchases based on consumer loyalty to a particular brand or product

An attempt to appeal to a large, general group of consumers

Purchases based on careful thought and sound reasoning

Rate at which companies produce goods and services in relation to the amount

Point of sales at which all of the expenses are covered

The percentage of total sales of a product or service that a company expects to capture in relation to its competitors

Group of consumers within a larger market who share one or more characteristics

The value of the next best alternative that you pass up when making a choice

A specific group of consumers a business wants to reach

A business culture that communicates values through high performance and excellent customer service

Purchases made by consumers with little thought

All of the consumers who will purchase a product or service

An example of a specific market segment is

The value people believe they receive from a product or service