Across
- 3. ___ marketing: Breaking the market into segments and then directing your marketing efforts at one segment
- 5. __ price: The amount that you going to sell the product and service for (It must include production cost, overheads and profit)
- 6. __ process: Is a process that has a beginning and a middle, but almost never has and end because businesses are always working to modify, improve and perfect their products as well as the way in which they are presented to customers. A range of processes that aim to discover unfulfilled customer wants and produce and market products that satisfy these wants
- 7. -even: The number of products that you need to sell to cover all the expenses of the business
- 8. __ costs: like rent, salaries, electricity and insurance stay the same regardless of how many items you sell
- 9. __ group: The group of people the business expects to purchase its products Feasibility study An analysis you use to determine the appeal of a business idea and how likely it is to succeed
- 10. __ advantage: When you have something special that your competitors do not have
- 12. __ profit: It is the difference between the selling price and the production cost and overheads Profit = selling price – (production cost + overhead costs)
- 14. Explanation
- 16. __ costs: Is the cost of the materials/ingredients needed to produce the product
- 17. Break-even-____: The number of items that must be made and sold to cover all of a business’s expenses/production cost
- 20. Is a fixed amount paid each month to an employee regardless of the number of hours worked
- 22. Any person or business that lends an entrepreneur money to start a business
- 24. Feedback from consumers using questionnaires, online forms or telephone calls
Down
- 1. Refers to the money used to start a business
- 2. __ price: The cost to make one product
- 4. __testing: The process of introducing a product or service to consumers and finding out what they think of it
- 5. A plan to archive a long-term goal
- 11. ___ segmen:t A group of customers with common needs and interests, who differ from other groups and who will respond similarly to a marketing action
- 13. __ costs: • Rent of the premises • Electricity and water • Maintenance and replacing equipment • Cleaning costs • Administrative costs • Transport and delivery • Faulty or damaged goods
- 15. __ costs: The costs of the wages you pay to people who work for you to make the product
- 18. __ costs: These costs vary or change during the production process like direct material costs/ingredients/raw materials, maintenance or replacement of equipment Fixed costs
- 19. An amount paid to an employee every week according to the number of hours worked
- 21. ___ identification: Is a method of gathering information to help you find out what gaps exist within your target market
- 23. __ costs/ primary costs: Adding all the cost of a product by adding the costs of the resources that went into making the product