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50 Cards in this Set
- Front
- Back
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what is the "product mix"
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all the products a co. makes or sells
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what are goods
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tangible products that our economic system produces to satisfy our wants
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what is product service planning
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developing the product service mix
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what are the steps of new product development
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Generate ideas, Screen ideas, make prototype, dev. new product, test market, introduce new product
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product line
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group of closely related products
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product item
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single specific model/brand/size of product
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product length/depth
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# of product items in a line
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deep mix vs. shallow mix
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many products in a line
few products in a line |
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product width/breadth
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# of product lines
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narrow mix vs. broad mix
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few product lines
many product lines |
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what is product consistancy
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the relationship of the items in a product line
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product life cycle
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the life of the product/service
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product mix strategy
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plan of action taken to select the product service mix
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market research
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collecting, recording, analyzing information
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market share
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a % of the total sales in a specific market
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what are the types of layouts
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right-angle grid, open, enclosed, landscaped
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steps in setting price
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determine pricing objectives, study costs,estimate demand, study competition, decide pricing strategy, set price
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cost oriented pricing
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carefully determine all costs asso. w/ carrying/selling a product then adding a price to get a selling price
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markup pricing
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add a % to the cost of products
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cost plus pricing
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check cost for individual products/services then adds markup
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demand oriented pricing
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price planners must estimate valueof products then set price
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Competition oriented pricing
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all prices based on competition
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promotional pricing
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putting an item at a low price to create sales
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loss leader
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putting items low intentionally to get customers
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special event pricing
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ex. back to school sales
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fixed pricing
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charge same price to all customers
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variable pricing
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encourages bargaining to satisfy customer and seller
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personal selling
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personalized communication
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public relations
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what a business does to create a good image
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publicity
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info provided to the public by the media
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steps of the selling process
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preapproach,approach,get needs, product presentation, overcome objections,close sale, suggestion selling, relationship selling
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primary/secondary circulation
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p- total # of copies sold
s- # of pass along readers |
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what is reach? Frequency?
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r- # of different people in a target audience exposed to a bus. msg.
f- the avg. # of people " " |
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bleed page, premium position, run of the paper
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b- pages w/ no border
pp-1st page or back cover r- appears where room is |
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what is cpm
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cost per 1000
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leadership styles
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autocratic, democratic, laissez-faire
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functions of manegment
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planning, organizing, directing, controlling (polc)
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staffing
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hiring employees
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job description
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written statement listing duties/responsibilities
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classified ads, private/public employment agencies
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c- job recruiting outside the business
private- charges money |
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screening
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1st step in hiring
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piece rate
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fixed amt. per unit
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commission
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% of sales
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wage
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fixed amt. per hour
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Equal Employment Act
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bans discrimination in hiring
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Americans w/ disabilities Act (ADA)
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bans discrimination for employees with disabilities
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Occupational safety and health act (OSHA)
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maintains safe working conditions
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Fair labor standards Act
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# of hours you can work
child labor laws |
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Family medical leave act
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50 employees
up to 3 mon. unpaid leave |
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risk management vs. business risk
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r- managing a business risk
b- a possibility of a business failure/loss |
