IGCSE Business Studies Key Terms 10

selling the same product to the whole market

no barriers exist that might prevent trade between different countries

dividing consumers in the market by geographic area

individuals/orgnisations identified by a business as the customer/consumer of their products

dividing the whole market into segments by consumer characteristics

developing products for  small segment of the market

all customers and consumers who are interested in buying a product and able to buy a product

the combination of internal and external factors that influence the operations of a business

markets for goods and services bought by the final consumer

the group of customers a business sells its products to

the final user of the product

an individual or business that buys goods and services from a business

a part of the whole market in which consumers have specific characteristics

markets for goods and services bought by other businesses to use in their production process