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22 terms

Determining the wants and needs

STUDY
PLAY
active listening
listening consciously and responding in ways that improve communication
advertising
public, promotional message paid for by an identified sponsor or company
banner ad
ad at the top or side of a web page
benefits
reasons customers choose to buy a product
business-to-customer company
company thats sells to individual people
contact information
information about potential customers, such as name,address,phone number, and email address
critical thinking
logical thought process that involves analyzing and evaluating a situation or object
customer profile
detailed description of your target market's characteristics
demographics
objective social and economic facts about people
e-commerce
process of buying and selling goods online
economics
social science concerned with how people satisfy their demands for goods and services
ethics
set of moral principles that govern decisions and actions
market
group of potential customers
market penetration
intensive growth strategy that emphasizes more intensive marketing of existing products
marketing
way of presenting your business
mass market
market that includes as many customers as possible
mixed economy
economic system that blends elements of the command economy and the market economy
objections
reasons why a customer may be reluctant or cautious about buying
product mix
combination of products that a business sells
purchasing
buying materials, products, and services for a business
repeat customers
customers that always come back
risk
possibility of loss