Marketing

• Market segmentation is when a market is broken down into sub-groups/smaller groups in which the consumers have similar preferences.
• Marketing is the process by which companies create, communicate, deliver, and exchange offerings that have value for customers.
• Customer loyalty is when existing customers continue to buy products from the same business/firm.
• A customer relationship is communicating with customers to encourage them to become loyal to the business and its products.
• Market share is the percentage of the total market sales held by one business.
• Mass market is where there is a very large number of sales of a product. Mass market targets a large audience.
• A niche market is a small segment of a larger market. It is a market that is specialised and targeted at a specific group of consumers.