1.

GOODS AND SERVICES

The outputs offered by businesses to satisfy the demands of consumer
and industrial markets.
2. CONTINUAL FLOW OF NEW PRODUCTS
Takes place when the company innovates since the customer needs to
get something new in order to stay interested in a companys product
and this can be in the form of new features, new shapes, new products
and even a new price
3. VOICE OF CUSTOMER
Term used in business to describe the process of capturing a
customers requirements
A market research technique that produces a detailed set of customer
wants and needs
Studies on this typically consist of both qualitative and quantitative
research steps and they are generally conducted at the start of any
new product, process, or service design initiative in order to better
understand the customers wants and needs, and as the key input for
new product definition and the setting of detailed design specifications
4. RETURN ON INVESTMENT
The percentage of money gained or lost on an investment relative to
the amount of money invested
5. BREAKEVEN POINT
The point at which cost or expenses and revenue are equal
6. BUSINESS RATIONALE
Defines the fundamental reason or reasons why developing the
product will be beneficial to the business and it outlines a reasoned
step by step explanation
7. BUSINESS PLAN
Formal statement of a set of business goals, the reasons why they are
believed to be attainable, and the plan for reaching those goals, and it
may also contain background information about the organization or
team attempting to reach those goals
8. PRODUCT POSITIONING
The process by which marketers try to create an image or identity in
the minds of their target market for their product, brand or
organization
The objective of this is to ensure that the consumer remembers the
product or brand despite the noise created by the communication
clutter
9. SALES PROCESS
Systematic approach to selling a product or service and it includes all
aspects of sales and helps in creating standardized processes which
allow monitoring of processes and in enhancing sales
10.
SALES TOOLS
All factors that help in selling a product and these include consumer
schemes, advertising, printed leaflets, banners, etc.