Ch 36 - Key term 0.0 / 5 ? Business Studies-IGCSENone Created by: a f.vCreated on: 10-12-14 11:59 Market A set of arrangements which allows buyers and sellers to communicate and trade in goods and services 1 of 7 Market share The proportion of sales in the total market that a business of product enjoys 2 of 7 Marketing Identifying customer needs and satisfying them profitably 3 of 7 Marketing mix The key elements in a firm's marketing strategy, commonly known as the 4ps - Product, Price, Promotion and Place. 4 of 7 Market orientation Where a business focuses on the needs of consumers when developing products 5 of 7 Marketing strategies A set of plans designed to achieve marketing objectives 6 of 7 Product orientation Where a business focuses on the design and manufacture of the product itself rather than the needs of customers 7 of 7
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