Chapter 34

Markets are __________- they are changing all the time

_______ is a proportion of sales in a total market that a business or product enjoys.

__________ is the first step in satisfying customer needs.

___________where a business focuses on the design and manufacture of the product itself rather than the needs of customers.

_________ where a business focuses on the needs of consumers when developing products

Once a business has attracted a customer, it is important to retain their ________so that they continue to make purchases in the future

___________ is identifying customer needs and satisfying them profitably.

_________ are very large markets in which products with mass appeal are marketed

_________ is a smaller market, usually within a large market or industry.