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Resources (or inputs) - The elements that go into producing goods and services., Output - The finished products resulting from the transformation process., Adding value - The process of increasing the worth of resources by modifying them., Unique Selling Point (USP) - A feature of a product or service that allows it to be differentiated from other products., Demand - The amount of a product or service that consumers are willing and able to buy at any given price over a period of time., Market segmentation - The classification of customers or potential customers into groups or sub-groups, each of which responds differently to different products or marketing approaches., Market size - The volume of sales of a product or the value of sales of a product, Market growth - The percentage change in sales over a period of time, Profit - The difference between the revenue/income of a business and its total costs., Marketing Mix - Those elements of a business’s approach to marketing that enable it to satisfy and delight its customers – product, price, place, promotion,
HNC Business definition match up
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