Across
- 5. the larger societal forces that affect the entire economy and influence all its participants, including demographic, economic, technological, political and cultural factors.
- 8. increasing the sales of current products or services in existing markets to gain a higher market share
- 10. a specific group of people that a company aims to sell its products or services to, based on shared characteristics like age, hobby or income
- 11. the act of providing essential details about a product or service
- 12. setting the price of a product based on how much it is perceived worth by customers, rather than just the cost to make it.
- 14. Government efforts to influcance the economy through taxation and spending.
- 16. the process of dividing a broad market into sub-groups of consumers (known as segments) based on shared characteristics such as demographics, interests, needs, or location
- 18. setting the price of a product by adding the profit margin to the cost it takes to make or buy the product
- 19. a detailed description of an ideal customer based on market research and real data that helps businesses understand and relate to the specific needs, behaviors, and concerns of their target audience
- 20. immediate factors like customers, suppliers, and competitors that directly affect the operation and success of a business
Down
- 1. the study of smaller economic units such as individual consumers, families and individual businessess.
- 2. details about people's interests, lifestyles, values, and attitudes that help marketers understand why certain people prefer some products or activities over others
- 3. The study of a country's overall economic dynamics, such as the emplyoment rate the GDP and taxation policies.
- 4. Overage that occours when revenue is higher that expenses over a given period of time
- 6. A Fiancial and social system of how resources flow through society, from production to distribution to consumption
- 7. Shortfall that ocours when expenses are higher than revenue over a given period of time.
- 9. The study of the choices that people, companies, and governmernts make in allocating society's resources.
- 13. the process of identifying, anticipating, and satisfying customer wants or needs profitably through the creation, promotion, distribution, and pricing of products or services
- 15. the strategy of convincing consumers of their need or desire for a product or service
- 17. a set of tools that businesses use to sell products or services and satisfy customer needs (also known as the 4ps)