Unit 1 Vocabulary

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Across
  1. 2. A company’s revenue minus expenses.
  2. 4. Aligning business activities to customer needs means every action a company performs should match the goal of satisfying customers. (two words)
  3. 7. is the process of gathering qualitative and quantitative data about consumers’ needs and wants. (two words)
  4. 9. (the 4P’s of marketing) includes the element of product, promotion, price, and place. (two words)
  5. 10. Involves extensive research to produce products that are in demand within an economy. (two words)
  6. 12. several actions that must all work together for a business to successfully profit. (two words)
  7. 13. is a method of selling that involves analyzing customer wants and needs and aiming to fulfill them better than the competition. (two words)
Down
  1. 1. are anything that can be bought or sold.
  2. 3. refers to the aspect of making, selling, and providing products in exchange for money.
  3. 5. is the percentage of the market for a product or service that a company supplies. (two words)
  4. 6. The messages marketers send to customers to influence purchases.
  5. 8. a specific group of people a business focuses on selling their product to. (two words)
  6. 11. is the process or technique of planning, pricing, promoting, selling, and distributing a product or service.