Market segments: An identifiable group of individuals/a part of the market where consumers share one or more ________.

Observations: Where market researchers watch the ________ of customers.

Primary market research: Obtaining data first hand by the business to match the specific needs of the business. It can also be known as ________.

When a business prioritises a product's design quality or performance rather than meeting customer preferences to guide ________.

Qualitative research: Market research collected relating to the opinions and beliefs of consumers. Data not presented ________.

Respondent bias: When respondents respond inaccurately to a question for some ________.

A small group of people who must represent a proportion of a total market when carrying out ________.

Secondary market research: Data collected by another business or organisation but used by the business in question. Also known as ________.

Segmentation: Dividing the market into groups of people with similar attributes or common ________.

Social networking: A platform such as Facebook, X and YouTube to market a business's ________.

Survey: A method of (primary) research used to collect ________.

Test marketing: Trialling the product in a small area or to a limited number of users to assess the ________ of a product.

Trade publications: Specialist magazines that look at current trends in the ________.

The difference between the price the customer pays and the total cost of inputs needed to create a ________.

Competitive advantage: A feature of a business and/or its products that enable it to compete effectively with rival ________.

Differentiation: Making products or services different or distinct from competing products/creating a ________.

Market mapping: A form of market positioning. It is the use of a 2-dimensional diagram that plots products or services in a market using two key variables. It is used to spot a ________.

Product differentiation: The act of distinguishing a product/service from competitors to make it more attractive to a particular target ________.

Demand: The quantity of goods/services that a consumer is willing to buy at a given price and at a given ________.

Demographics: The structure of the population such as age, gender and ________.

External shocks: Factors beyond the control of a ________.

Seasonality: When demand rises or falls at particular times of the year according to ________.

Substitutes: Goods that can be bought as an alternative to others, but perform the same ________.

A payment given to producers, usually to encourage production of a certain _______.

Taxes imposed by the government on spending e.g. VAT and Excise duties. Responsibility for payment lies with the _______.

Fill in the blank: The amount that producers are willing/able to produce at a given price/over a given period of _______.

Fill in the blank: The price where supply and demand are equal. Also known as _______ price.

Fill in the blank: Factors other than price e.g. Change in consumer incomes, advertising and _______.

Shortage in markets: Where demand exceeds supply. Fill in the blank: Shortage in markets is where demand _______ supply.

Surplus in markets: Where supply exceeds demand. Fill in the blank: Surplus in markets is where supply _______ demand.

Fill in the blank: Luxury goods are those that consumers like to buy if they can afford them e.g. air travel and _______ items.

Necessity goods are basic goods that consumers need to buy e.g. food, electricity and _______.

Price elastic means demand is responsive to a change in _______.

Price elasticity of demand (PED) measures the responsiveness of demand to a change in _______.

Price inelastic means demand for the product is less responsive proportionately to a change in _______.

Income elasticity of demand (YED) measures the responsiveness of changes in demand to changes in consumer _______.

Inferior goods are those where when incomes increase there is a decrease in demand e.g. _______ goods.

Fill in the blank: Marketing mix is a plan for using the right blend of product, price, promotion, and place in order to maximise _______.

Social trends are changing patterns in consumer behaviour reflected in changing demands e.g. increased use of social media/being _______ friendly.

Aesthetics relates to the _______ of a product.

Cost in design mix is when the business focuses on being economically viable, therefore they aim to minimise _______.

Design for recycling involves producing products using materials that have been discarded as waste and _______.

Design for reuse: When materials used in the initial product are utilised again in the future beyond their initial intended use. Fill in the blank: Design for reuse is when materials used in the initial product are utilised again in the future beyond their initial intended _______.

Design for waste minimisation involves reducing the quantity of resources that are discarded in the _______ process.

Design Mix is the combination of factors needed in designing a product and include Aesthetics, Function, Economic _______.

Ethical sourcing is when a business buys materials that are produced with fair working conditions/pay and minimum impact on the _______.

Function relates to the quality and _______ of a product.

Re Branding is a marketing strategy in which a new name, term, symbol, design or combination is created for an established brand with the intention of developing a new, differentiated _______ in the minds of consumers, investors, and/or competitors.

Resource depletion is the using up of natural _______.

Fill in the blank: Advertising is a paid form of communication, used by a business to raise customer awareness of its products, services and brands, to persuade _______ to be made.

What is Customer loyalty?

Digital communications are:

What is Direct marketing?

What is Emotional branding?

What is Manufacture/corporate branding?

An Own brand is a brand that is owned by:

What is Personal selling?

A Premium price is:

Product branding/Generic branding is:

Promotion is:

Public relations is a strategic communication process that builds mutually beneficial relationships between organizations and their ________.

Sales promotions are:

What is Social media?

Sponsorship is:

What is USP?

Viral marketing is a strategy that relies on what?

Competitive pricing is a strategy where businesses set the price of their products or services based on what?