Across
- 5. A word, symbol, or phrase used to identify a particular company’s product and differentiate it from other companies’ products
- 6. A smaller part of a larger market in which customers have more specific needs and wants.
- 9. An employee who is employed on a formal employment contract and remains with the firm for an open-ended period until the contract is ended.
- 10. liability The potential risk that sole traders and partnerships face. They are liable for the debts of the business
- 12. The process of dividing a market into smaller sections (segments) segmentation which contain customers with similar needs and wants
- 14. The process of planning, collecting, and analysing data relevant to help make marketing decisions
- 16. The probability or chance that hoped-for outcomes will not occur
- 17. Amounts owed to suppliers of a business – a source of finance
- 19. The cost of a decision as measured by the benefits foregone of the next best alternative
- 21. Costs that vary directly in proportion to output (e.g. materials, pay related to amounts produced or sold)
- 22. The percentage growth in the size of the market, measured over a specific period
- 23. A feature of a product or service that makes it stand out compared with the competition
- 24. The share of the total market that is owned by a particular business, product or brand. Usually expressed in percentage terms. The firm with the largest percentage market share is known as the market leader.
- 26. In market research, a subset of a population.
Down
- 1. The income or sales that a business achieves in a period. Calculated by multiplying selling price per unit x units sold.
- 2. The total value or quantity of demand in a specific market over a specific period of time. Can be measured in value terms (e.g. sales) or in terms of quantities (e.g. units) bought or sold.
- 3. The rewards to enterprise – e.g. profit, satisfaction
- 4. The right to be the only user of producer of a specified product or process
- 7. The market research that involves the collection of data that does not yet exist
- 8. Market research concerned with collecting data on attitudes, opinions, beliefs, intentions etc.
- 9. The difference between total sales and total costs
- 11. The amount of money that a business has available to conduct its day-to-day activities
- 12. A business that has objectives other than making profit. Part of a group of organisations in the “not-for-profit” sector
- 13. The finance invested in a business (limited company) by the shareholders – part of the equity capital of a firm
- 14. The difference between the actual level of output and the break even output
- 15. A one-person business with unlimited liability for the debts of that business
- 18. Market research concerned with collecting data that can be quantified - e.g. sales statistics
- 20. The total of variable and fixed costs in a business
- 25. A business that provides goods and services to other firms.