Business management holiday homework
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10 Terms
market share
The business's share of the total industry sales for a particular product.
Market Segmentation
when the total market is subdivided into groups of people who share one or more common characteristics
niche market
A narrowly selected target market segment.
product
A good or service that can be offered in exchange for satisfying a need or want
promotion
methods used by a business to inform, persuade or remind a target market about its products.
price
the amount of money customers must pay to obtain the product
Physical Evidence
everything that the customer sees when interacting with a business
place
making the product available to the customer, wherever the customer chooses to purchase it
process
the flow of activities or mechanisms that take place when there is interaction between the customer and a business
people
everyone who is involved in the product of a business