Across
- 5. A contest between two or more businesses to win a customer's business and loyalty.
- 6. A business owned by two or more people.
- 9. A contract between a parent company and a franchisee to use the name and sell the goods or services of the parent company. Examples include fast food restaurants (Chick-fil-A) and gyms (Planet Fitness).
- 12. recognition The process in identifying new ways of meeting the “needs” or “wants” of customers.
- 13. A “good” or “service” that a customer MUST have in order to survive.
- 14. Tasks that business perform or provide for consumers, such as haircuts or car washes.
Down
- 1. A business that is considered a separate entity from the owners. The owners are called stockholders.
- 2. proprietorship A business owned by only one person.
- 3. A firm that sells “products” or “services” to customers to meet a “want” or “need”.
- 4. A product or service that a customer DESIRES but is not necessary to survive.
- 7. Money that remains after a business has paid for the “expenses” or “costs” of running the business.
- 8. type The legal structure of a business. Common business types are “Sole Proprietorship”, “Partnership”, “Franchise”, and “Corporation”.
- 10. A person or firm who “wants” or “needs” a “good” or “service”. Many times, the customer will also be the “consumer”.
- 11. Items that business sell that can be measured by quantity. The items can be both physical, such as computers, or digital, such as software.