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40 Cards in this Set
- Front
- Back
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Premium
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Item given free or at low cost with the purchase of a specified good or service. It has a company's branding on the item.
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Stagflation
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Is the situation in which an economy has both high unemployment and a rising price level
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Cannibalizing
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Is when one product takes the sales from another offering in a product line
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Piggybacking
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In transportation, putting one load on top of another is called ____
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Differentiation
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The practice of making one product distinguishable from others is called product ______
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Marketplace
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A place where a product is sold to buyers is called the ____
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Interest
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Money paid for the use of borrowed money is called ____
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Depression
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A prolonged recession
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Prestige
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An artificially high price on an item or service to suggest high quality
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Product Bundling
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_____ _____ is when two or more complementary items are packed together
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Consumers
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People who use goods and services to satisfy their personal needs and wants
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Aptitudes
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What do you call the abilites needed for a certain job?
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Unlimited liability
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Requirements that all business owners are responsible for paying all debts
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Product Life Cycle
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The stages through which goods and services move from the time they are introduced until they are taken off the market
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Market share
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What term references to an organization's portion of the total industry sales in a specific market?
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Product line
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A group of related product items
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Product mix
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The particular assortment of products that a business offers
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Advertisin
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Any paid form of non-personal presentation of ideas, goods or services
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Natural resources
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Items that are found in nature that is used to produce goods or service
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Business cycles
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Periods of economic fluctuations or periods of economic ups and downs
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Marketing research
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The gathering of data needed to handle a specific marketing problem or situation
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Positioning
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The consumers' perception of a good or service relative to competitors is the product's ____
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Fixed and Variable
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What are the two classifications of operating expenses
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Inventory
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phicAll the stock (products) in a business
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Unions
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To obtain higher wages, more fringe benefits, and improved working conditions, workers can form a labor ____
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Assets
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Another name for the capital of a business or anything a company owns of value
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Geographic
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Grouping consumers according to where they are located is known as _____segmentation
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Entrepreneurs
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People who take risks to earn money and make profits by taking risk of owning and operating a business are called _____
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Break-even point
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The number of unit sales required to cover the fixed and variable costs of a business is called ____-_____ ______
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Speculative
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If a business invests in the stock market it is taking this type of risk
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Stockholders
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Owners of a corporation
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Balance sheet
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A report that tells the financial status of a business
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Corporation
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You have limited liability when you invest in this type of business
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Publicity
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Business information that is provided to the public by the media or other sources at no cost to the business is called what?
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Standard of Living
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A measurement of how well the people in a nation are doing
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Print
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Magazine ads are ____ media
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GDP
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The final, total value of all goods and services produced in an economy in a year's time is called _____
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Form, time, information, place, possesion
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Name the five types of utilities
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Breach of contract
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The failure to fulfill the terms of a contract for either party is called _____ of _____
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Empathy
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The ability to put yourself in the place of another person
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