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25 Cards in this Set
- Front
- Back
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Advertising |
Any paid form of non personal presentation and promotion of ideas, goods, or services by an identified sponsor. |
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Asset |
Property or items of value owned by a business. |
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Benefits |
Attributes of a product that will be an advantage for the customer |
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Brand extention strategy |
Using an existing successful brand name for an improved or new product in the product line |
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Business cycle |
Cycle that consists of alternating periods of expansion and contraction of the economy |
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Capital |
An economic system characterized by private ownership of businesses and competition in the marketplace |
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Channel management |
Handling activities involved in getting products through the different routes from the producers to the consumers |
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Co branding strategy |
Combining two or more brands to increase customer loyalty and sales for each individual brand |
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Corporation |
As defined by the US Supreme Court, is "an artificial being, invisible, intangible, and existing only in contemplation of the law." |
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Demand |
The amount or quantity of goods and services that consumers are willing and able to buy at various prices. |
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Discretionary income |
Remaining take home pay after life necessities are paid for |
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Disposable income |
Take home pay a person has available to dispose of, meaning spend. |
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Feature benefit selling |
Method of showing the major selling features of the product and how it benefits the customers |
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Franchise |
The right to do business using the brand and products of another business |
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Gross income |
Amount of income before subtracting taxes and other deductions |
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Liability |
Legal responsibility; a debt of the business or what it owes to others |
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Loss leaders |
Pricing an item much lower than the current market price or the cost of acquiring the product |
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Market share |
The proportion of the total market that a particular company holds. shown in a % |
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Market strategy |
Decision made about product, place, price, and promotion |
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Media |
The agencies, means or instruments used to convey advertising messages to the public |
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Monopoly |
A market structure with one business that has complete control of a markets entire supply of goods or services |
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Partnership |
Relationship between two or more people who join to create a business |
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Product line |
Group of closely related products within the product mix |
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Product mix |
All of the products and services that a business sells |
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Return on investment |
Ratio that shows the efficency of an investment by comparing the gains from the investment to its cost |
