Economics: Inflation and Competition

The rivalry between companies to attract customers.

The process of creating new ideas, products, or methods.

To encourage or stimulate an action or process.

To be at the forefront in a particular area.

Individuals who purchase goods and services.

An increase in the production of goods and services in a country.

The state of being successful or thriving, especially in financial terms.

Products that are not essential but are desirable for their quality or status.

Tools and machines that improve efficiency or productivity.

Goods that are newly created or introduced in the market.

To increase or improve something.

To become greater in size, amount, or degree.

To recognize or determine the nature of something.

Products and activities available for sale.

The process of gathering, analyzing, and interpreting information about a market.

To support or actively encourage a cause, venture, or aim.

Methods or ways of doing something.

To give information to someone.

To stimulate interest or enthusiasm in doing something.

The desire of consumers to purchase goods and services.

Personal interaction between the salesperson and the customer.

Products that are not consumed quickly and last over time.

How easily a product can be seen or accessed by consumers.

The requirement for certain goods or services within a market.

The tastes and choices that consumers exhibit when selecting products.

Methods employed by salespersons to convert leads into sales.

A paid form of communication that promotes products or services.

Specific strategies used to gather data and insights.

The stages a product goes through from development to withdrawal.