AP Business Unit 1: 1.1
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Last updated 3:33 AM on 8/31/26
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7 Terms
1
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Business
an organization or entity that produces and distributes products, inclusive of goods and/or services.
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Customer
an individual or business that purchases a good or service.
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Consumer
an individual who uses a good or a service, whether or not they are the buyer
4
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Problem-Solution Fit
It is the alignment between a customer's pain point and the value your offering provides.
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Value
the worth or benefit of a product to customers
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Value Creation
when businesses provide a product that responds to customers' problems needs and wants
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Value Capture
when businesses are able to charge customers a higher price for a product than it costs to produce