A-Level Business: Unit 3 key terms revision

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Across
  1. 1. A large market aiming products at a broad customer base(4,6)
  2. 4. Creating a unique identity that distinguishes a business’s products.
  3. 6. Strategies used to prolong a product’s lifecycle and delay decline.
  4. 7. Individuals involved in delivering the product or service and influencing customer experience.
  5. 8. The stages a product passes through from launch to decline. (4,5)
  6. 10. The responsiveness of demand to changes in price.
  7. 12. Dividing a market into groups of consumers with similar characteristics or needs.
  8. 13. The amount charged for a product, influenced by costs, demand, and competition.
  9. 15. Establishing how a product is perceived relative to competitors in customers’ minds.
  10. 25. Making a product distinct from competitors through features or positioning.
  11. 27. The place or process where buyers and sellers interact to exchange goods or services.
  12. 28. A situation where demand changes little when the price changes.
  13. 30. The route through which goods move from producer to consumer.
  14. 31. A product with low market share in a fast-growing market requiring decisions about future investment.
  15. 33. Existing data collected previously for another purpose and reused in analysis.
  16. 36. Demand that responds significantly when the price changes.
  17. 37. Data gathered first-hand for a specific purpose, such as through surveys.
  18. 39. The degree to which customers repeatedly buy from the same brand.
  19. 40. The customer group a business aims its product or message at.
Down
  1. 2. The proportion of total market sales captured by a business.
  2. 3. Goods with high income elasticity, where demand grows faster than income (6,5)
  3. 4. The planned financial allocation for marketing activities.
  4. 5. Products for which demand rises when income increases(6,5)
  5. 7. The systems and procedures that ensure a consistent and efficient service is delivered.
  6. 9. Rival businesses offering similar products in the same market.
  7. 10. The range of different products a company offers in the market.
  8. 11. The distribution channels used to get a product to customers.
  9. 14. Products for which demand falls as consumer income rises (8,5)
  10. 15. The good or service offered to meet customer needs within the marketing mix.
  11. 16. A distinctive name or symbol that differentiates a product and builds customer loyalty.
  12. 17. Selecting specific segments a business chooses to focus its marketing efforts on.
  13. 18. Using online channels such as social media and websites for marketing activity.
  14. 19. The process of collecting information to understand markets and customer needs.
  15. 20. The tangible elements customers see that help shape their service perception.
  16. 21. A small, specialised market segment with distinct customer needs
  17. 22. Selecting a group of people to represent a larger target population in research.
  18. 23. A product with high market share in a low-growth market that generates strong profits (4,3)
  19. 24. Considering morally acceptable practices when promoting and selling products.
  20. 26. The perceived benefits of a product relative to its price.
  21. 29. Understanding gained from analysing data to improve marketing decisions.
  22. 32. A product with high market growth and high market share that often needs heavy investment.
  23. 34. The responsiveness of demand to changes in consumer income.
  24. 35. A feature that makes a product stand out from competitors.
  25. 37. Communication used to inform, persuade or remind customers about a product.
  26. 38. A product with low market share in a low-growth market that may drain resources.