Marketing, Competition and The Customers
- Marketing is identifying customer wants and satisfying them profitably.
- Customer is a person, business or other organisation which buys goods or services from a business.
- Customer loyalty is when existing customers continually buy products from the same business.
- Customer relationships is communicating with customers to encourage them to become loyal to the business and its products.
- Market share is the percentage of total market sales held by one brand or business.
- Consumer buys goods or services for personal use – not to re-sell.
- Mass market is where there is a very large number of sales of a product.
- Niche market is a small, usually specialised, segment of a much larger market.
- Market segment is an identifiable sub-group of a whole market in which consumers have similar characteristics or preferences.
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marketing_competition_and_the_customer.pdf |