Consumers and Competition Vocabulary Review

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Across
  1. 5. When a business is offering a product or service with little to no competition
  2. 6. The most difficult type of competition is one where you compete with similar products
  3. 8. Customer level of approval when comparing a product's perceived performance with his or her expectations
  4. 10. Process Involves a customer, a product, a seller, and a transaction
  5. 12. A particular group of consumers at which a product or service is aimed
  6. 14. A group of similar consumers within a larger market
  7. 15. It is _____ to know who your competitors are and have knowledge about their strengths and weaknesses
Down
  1. 1. The rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth
  2. 2. A physical good, a service, experience or idea designed to fill the customer’s want or need
  3. 3. A set of activities related to creating, communicating, delivering, and exchanging offerings that have value for others
  4. 4. A condition or circumstance that puts a company in a favorable or superior business position
  5. 7. The company or organization offering a need/want satisfying product
  6. 9. The terms around which both parties agree to trade value-for-value
  7. 11. A person or organization that buys goods or services from a store or business
  8. 13. This type of competition offers similar products but they are clearly different for consumers