Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
27 Cards in this Set
- Front
- Back
|
geographics
|
segmentation of a market based on where people live
|
|
|
marketing mix
|
combination of marketing decisions involving products, price, place, and promotion also called the Four P's
|
|
|
mass-marketing
|
using a single marketing plan to reach all of the customers
|
|
|
customer profile
|
picture of a prospective customers based on geographics, demographic, and psychographics
|
|
|
Federal Trade commission
|
An independent federal agency whose main goals are to protect consumers and to ensure a strong competitive market by enforcing a variety of consumer protection and antitrust laws. These laws guard against harmful business practices and protect the market from anti-competitive practices such as large mergers and price-fixing conspiracies.
|
|
|
finance
|
money management
|
|
|
management
|
the process of achieving company goals by effective use of resources
|
|
|
Baby boomers
|
people born in the 1980's and early 1990's
|
|
|
monopoly
|
exclusive control over a product or the means of producing it
|
|
|
entrepreneurship
|
abilities are needed to improve what we have and to create newgoods and services;one who brings together all the resources of land, labor, and capital that are needed to produce a better product or service; willing to assume the risk of success and failure.
|
|
|
inflation
|
rising prices
|
|
|
Capital
|
goods, such as equipment or processed materials, used in a production process; also, money needed to start and operate a business.
|
|
|
Demand
|
consumer willingness and ability to buy products
|
|
|
Supply
|
consumer willingness and ability to buy products
|
|
|
Marketing
|
an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
|
|
|
Demographics
|
The study of total size, sex, territorial distribution, age, composition, and other characteristics of human populations; the analysis of changes in the make-up of a population.
|
|
|
ethics
|
fuidelines for good behavior, based on knowing the difference between right and wrong and doing what is right
|
|
|
jargon
|
technical or specialized vocabulary used by members of a particular profession or industry.
|
|
|
horizontal organization
|
nontraditional business structure characterized by self-managing teams, organization by process rather than function, and customer orientation
|
|
|
form utility
|
value added by changing raw materials or putting parts together to make them more useful
|
|
|
family life cycle
|
evolution of the family through traditional stages-single, newly married, full nest, empty nest, and sole survivor.
|
|
|
communication
|
the process of exchanging information, ideas, and feelings
|
|
|
services
|
intangible products; usually a series of tasks performed for a customer.
|
|
|
retailers
|
businesses that buy goods from whole
|
|
|
channels
|
the avenues by which the message is delivered.
|
|
|
empathy
|
the ability of an individual to project his or her own personality into a situation and understand it; a quality deemed desirable in salespeople who must be able to see the product from the buyer's point of view.
|
|
|
Vertical Organization
|
traditional business structure characterized by three levels of management- top, middle, and supervisory level
|
