Chapter 2 Vocab S&EM

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Across
  1. 4. The value people believe they receive from a product or service
  2. 7. Purchases made by consumers with little thought
  3. 11. Group of consumers within a larger market who share one or more characteristics
  4. 14. The capability to produce products or services more efficiently and economically than the competition
  5. 15. Purchases based on careful thought and sound reasoning
  6. 16. A focus on satisfying customer needs
Down
  1. 1. Point of sales at which all of the expenses are covered
  2. 2. Rate at which companies produce goods and services more efficiently and economically than the competition
  3. 3. A specific group of consumer a business wants to reach
  4. 5. All of the consumers who will purchase a product or service
  5. 6. The percentage of total sales of a product or service that a company expects to capture in relation to its competitors
  6. 8. culture A business culture that communicates values through high performance and excellent customer service
  7. 9. Difference between customer expectations and actual service received
  8. 10. An attempt to appeal to a large, general group of consumers
  9. 12. The value of the next best alternative that you pass up when making a choice
  10. 13. Purchases based on consumer loyalty to a particular brand of product