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___________ is identifying customer needs and satisfying them profitably.
Marketing
__________ is the first step in satisfying customer needs.
Market Research
___________where a business focuses on the design and manufacture of the product itself rather than the needs of customers.
Product oriented
_________ where a business focuses on the needs of consumers when developing products
Market oriented
_______ is a proportion of sales in a total market that a business or product enjoys.
Market Share
_________ are very large markets in which products with mass appeal are marketed
Mass markets
_________ is a smaller market, usually within a large market or industry.
Niche Market
Once a business has attracted a customer, it is important to retain their ________so that they continue to make purchases in the future
loyalty
Markets are __________- they are changing all the time
dynamic
