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6
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The process of gaining information about customers, competitors and market trends through collecting primary and secondary data
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7
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The gathering of new information, data that has not been collected before
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8
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Tailoring a product to meet customer needs and wants
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9
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Where a customer buys more than once from the same business
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10
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Part of a market that contains a group of buyers with similar buying habits, such as age or income
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11
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The combination of factors which help a business to take into account customer needs when selling a product, usually summarised with 4 p’s.
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1
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A form of promotion where customers recommend a business due to favourable experiences
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2
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Part of the marketing mix - goods or services made by a business
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3
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The part of the marketing mix that focuses on where a firm’s products are sold
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4
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Part of the marketing mix - how much customers are asked to pay
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5
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Data that can be expressed as number and can be statistically analysed
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11
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How a business makes its products known to customers – both existing and potential
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