Business Key Terms 0.0 / 5 ? Business StudiesallGCSEAll boards Created by: livvibusbyCreated on: 29-04-14 16:00 Good Tangible (Something you can touch) 1 of 10 Service Intangible (Eg. Taxi service) 2 of 10 Aim Long term goal 3 of 10 Repeat Purchase Where a customer comes back to your service. 4 of 10 Market A place where buyers & sellers meet. The sellers much have something to offer for a transaction to happen. 5 of 10 Product Portfolio The range of products offered to appeal to different market segments. 6 of 10 Market Mapping Identifying target customers and potential gaps in the market. 7 of 10 Substitute Goods An alternative to your product or service which a customer may chose over what your business offers. 8 of 10 Competition Where Firms in the same market that competes with one another to to gain customers for their products or service. 9 of 10 Market Share The percentage of all the sales within a market that are held by one brand or company. 10 of 10
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