Units 8 - 13 Vocabulry Review

2. 1 of the 3 M's. It is concerned with "Can I make money doing it?"
3. A specific group of customers most likely to buy a product/service. (2 words)
7. The process of sorting people into groups based on characteristics for marketing. (2 words)
9. The process of attracting online traffic from searches to your business's website. (3 words)
14. How a company sells its products to customers and its plan for making a profit. (2 words)
15. Tax to be paid on certain imports/exports.
16. Consists of controllable surroundings, such as your team, finances, and marketing. (2 words)
19. The edge gained by being the first party of substance in a certain market segment. (3 words)
21. Rivalry between companies in selling similar products/services.
22. 1 of the 3 M's. It is concerned with "Will enough people buy the product?"
23. The edge gained by a party learning from the mistakes of previous parties and improving on them. (3 words)

1. Network of devices that identify themselves and communicate between other internet-enabled devices and systems. (3 words)
4. Size of market your business can currently reach. (3 words)
5. Rules that direct government taxing and spending. (2 words)
6. Period of economic decline.
8. Level of responsiveness of demand/supply to pricing changes.
10. Monitoring of surroundings to detect opportunities/threats for your business. (2 words)
11. Consists of uncontrollable variables, such as competition, society, and the economy. (2 words)
12. Overall demand for a product/service over one year. (3 words)
13. The gain or loss generated on an investment compared to the money invested. It is usually writted as a percentage. (3 words)
17. 1 of the 3 M's. It is concerned with "Will society benefit as a result?"
18. Characteristics of a population, such as age, gender, income, race, ethnicity, education, profession, marital status, and religious affiliation.
20. A product which has its price highly tied to its supply, such as oil or corn.