Study Guide

Commercial activity that seeks profit by providing goods and services to others in exchange for money.

The study of the population in terms of age, gender, height, income, education, etc..

A group of consumers who share common wants & needs & who have the ability to purchase a product.

Physical Products

Process of creating, promoting, & presenting a product to meet the wants & needs of consumers.

Gathering and studying data about the buy habits of consumers .

A person who recognizes a business opportunity and organizes, manages, and assumes the risks of starting a new business

The duty to do what is the best for the good of society.

Taking a company and it's employees in a direction based on a vision.

Contest between businesses to win customers.

Businesses use this to promote these products & services

When business only make enough money to pay off their expenses, they end up not making a profit.

A person who uses goods or services.

When a business finds out their consumer's demographics they know who their _______ is.

Offering a product in a limited Market for a limited time.

The money left over after a business has paid the cost of providing goods and services to others in exchange for money.

Shipping products to a location to be sold is called _____.

Tasks that business perform for consumers.

Building customer loyalty through goods customer relations