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38 Cards in this Set

  • Front
  • Back
Aspect of the marketing mix concerned with the most effective techniques for selling a product.
Promotional Mix
Combination of tools used to promote a product.
Process of establishing an identifiable product image in the minds of consumers.
Promotional tool consisting of paid, non personal communication used by an identified sponsor to inform an audience about a product.
Comparative Advertising
Advertising strategy that directly compares two or more products.
Advertising Media
Variety of communication devies for carrying a seller's message to potential customers.
Direct mail
Advertising medium in which messages are mailed directly to consumer's homes or places of business
Media Mix
Comination of advertising media chosen to carry a message about a product.
Service Operations
Activities producing intangible & tangible prodcuts, such as entertainment transportation, and education
Goods Production
Activities producing tangible products such as radios newspapers and text books
A products ability to satisfy a human want
Operations (production) Management
Systematic direction & control of the processes that transform reseources into finished products that create value for and provide benefits to customers.
Operations Process
Set of methods and technologies used in teh production of a good or service
Facet of a production plan that predicts futre demand
Amount of a product that a company can produce under normal working conditions
Process Layout
Spatial arrangement of production activites that groups equipment & people according to function
Operations Control
Process of monitoring production performane by comparing results with plans
Productions control activity for ensuring that production decisions are being implemented
Materials Management
Planning organizing and controling the flow of materials from design through distribution of finished goods
Measure of economic performance that compare how a system produces with the resources needed to produce it
A products fitness for use; its success in offering features that consumers want
Labor Productivity
Productivity ratio calculated by dividing total output by total labor inputs
Total Quality Management (TQM)
The sum of all activities involved in getting high quality products into the market place
Quality Ownership
Principal of total quality management that holds that qulity belongs to each person who creates it while performing a job
Comparative Product Analysis
Process by which a company analyzes a competitor product to identify desireable improvements
Value Added Analysis
Process of evaluating all work activites, materials flows, and paperwork to determine the value they add for customers
ISO 9000
Program Certifying that a factory laboratory or office has met the quality management standards of the international organization for standaradization
ISO 14000
Certification program attesting to the facet a factory laboratory or office has improved environmental performance
Management Advisory Services
Specialized account services to help managers resolve a variet of problems in finance, production, scheduling, and other areas.
Financial Statement
Any of several types of reports summarizing a company's financial status to aid in managerial decision making
Balance Sheet
Financial statement detailing a firm's assets, liabilities and owners equity
Current Asset
asset that can or will be converted into cash within the following year
measure of the money supply that includes only the most liquid forms of money
Demand deposit order instructing a bank to pay a given sum to a specified payee
Demand Deposit
bank account funds that may be withdrawn at anytime
Commercial Bank
Federal or state chartered financial institution accepting depostis that it uses to make loans and earn profits
Prime Rate
Interest rate availabe to a banks most credit worthy customers
Savings & Loan Associatoin
Financial institution accepting deposits & making loans primarily for home mortgages