Unit 10 CIE

4. the combination of internal and external factors that influence the operations of a business.
5. individuals or organisations identified by a business as the customers or consumers of their products.
7. when existing customers continually buy products from the same business
8. identifying customer wants and satisfying them profitably
9. markets for goods and services bought by other businesses to use in their production process.
11. where there is a very large number of sales of a product
13. a small usually specialised, segment of a much larger, market
14. markets forgoods and services bought by the final consumer.
15. dividing consumers in the market by factor such as age, gender, income, ethnic background and social class
17. an individual or business that buys goods and services from a business.

1. dividing consumers in the market by geographic area
2. communicating with customers to encourage them to become loyal to the business and its products
3. dividing the whole market into segments by consumer characteristics and then targeting different products to each segment.
6. dividing consumers fin the market by lifestyles, personalities and attitudes
10. no barriers exist that might prevent trade between different countries
12. the final user of a product.
16. all customers and consumers who are interested in buying a product and have the financial resources to do so.