Across
- 7. market- an economic system based on supply and demand with little or no government control
- 9. segment- Each part of a broader market category that possesses an identifiable characteristic.
- 10. design influences the way a product looks or preforms and also what it does
- 12. advantage- the competitive edge which can be gained by one company over another by reducing production or marketing costs or both so that it can offer cheaper prices or use excess profits to bolster promotion or distribution.
- 13. when there are small number of large companies, each with a it of market control
- 15. - Different variety of products businesses have in stock/ own to compete with other brands or businesses
- 18. market- When a business expands to an international market they must tailor it’s competitive to fit the foreign market.
- 19. ventures- shared control of a new business between two or more separate companies for mutual benefit
- 21. a monopoly is a firm that lacks any viable competition
- 23. market- the competitive market consist of specific types of products such as well the companies that manufacture these products
- 25. promotion are things such as coupons, contest and sales on certain products at stores to gain attention
- 26. Unique selling proposition is what businesses develop or a product that is unique and that no other competitors have because it’s unique so then consumers don’t need to decide what’s better over two of the same products from different companies
- 27. cost- Landed cost takes into account shipping costs and the currency exchange as well as the tariff rates.
Down
- 1. loyalty- Customer loyalty when a customer stick to buying a certain product and is very important to businesses because even little percent in customer retention results in major increases in profit
- 2. share- The percentage that one company’s product takes of the total dollars spent by consumers on products within a specific market category
- 3. Reputation is good reviews or service from a business which instead of an actual profit or value creates a good name for the business and good service or product can spread by word of mouth
- 4. - Methods where a business holds onto its customers in spite of competition
- 5. Competition is the fight between two businesses for who can make the better product or better prices.
- 6. a measure of the profit responsiveness by seg- ment to different levels of marketing investment
- 8. Research and development is a team apart of a business that focuses on improving products and finding ways to make them better
- 11. a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something
- 14. marketing- The consumer develops a strong relationship with the product or the retailer and will not consider any other brand
- 16. where one company provides a product or service for a small market and by doing so keeps competitors out of the market
- 17. services- activities performed to support the sale of a product or other service
- 20. making some activity easier or more comfortable and is the main reason people shop on the internet
- 22. non sustainable are things like promotion, placement, quality, benefits, price and or design
- 24. taxes placed on goods being imported into a country in order to protect the local industries from too much foriegn competition