exam
Business 100f with Scott at Central Michigan University
About this deck
By: nicollette gutzwiller
Textbook:
BUSN (with Review Cards and Printed Access Card)
Created: 2010-12-04
Size: 41 flashcards
Views: 42
Textbook:
BUSN (with Review Cards and Printed Access Card)Created: 2010-12-04
Size: 41 flashcards
Views: 42
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Pure Goods
products that do not include any services
Pure Services
products that do not include any goods
Product Features
the specific characteristics of a production
Product Life Cycle
A pattern of sales and profits that typically changes over time.
Channel of Distribution
the network of organizations and processes that links producers to consumers
Physical Distribution
the actual physical movement of products along the distrivtion pathway
Direct Channel
A distribution process that links the producer and the customer with no intermediaries
Channel Intermediaries
distribution organizations-informally called middle men-that facilitate the movement of products from the producer to the consumer
Retailers
distributors that sell products directly to the ultimate users, typically in small quantities, that are stored and merchandised on the premises.
Common Stock
The basic form of ownership in a corporation
bond
A long-term debt instrument issued by a corporation or government entity
Maturity Date
The date when a bond will come due
Coupon Rate
The interest paid on a bond expressed as a percentage of the bond's per value.
Market Order
An order telling a broker to buy or sell a specific security at the best currently available price
Limit Orders
An order to a broker to buy a specific stock only if its price is below a certain level, or to sell a specific stock only if its price is above a certain level
Utility
The ability of goods and services to satisfy consumer "wants"
Marketing Concept
A business philosophy that makes customer satisfaction-now and in the future-the central focus of the entire organization
Marketing Plan
A formal document that defines marketing objectives andd the specific strategies for achieving those objectives
Demographic Segmentation
Dividing the market into smaller groups based on measurable characteristics about people such as age, income, ethnicity, and gender
Geographic Segmentation
Dividing the market into smaller groups based on where consumers live. This process can incorporate countries, cities, or population density as key factors.
Psychographic Segmentation
Dividing the market into smaller groups based on consumers attitudes, interests, walues, and lifestyles.
Behavioral Segmentation
Dividing the market based on how people behave toward various products. This category includes both the benfits that consumers seek from products and how sinsumers use the products.
Product
Anything that an organixationoffers to satisfy consumers needs and wants, including both goods and services.
Wholesalers
Distributors that buy products from producers and sell them to other businesses or nonfinal users such as hospitals, nonprofits, and the government.
Wheel of retailing
A classic distribution theory that suggests that retail firms and retail categoties become more upscale as they go through their life cycles.
Supply chain
All organizations, processes, and activites involved in the flow of goods from their raw materials to the final consumer.
Planning
Determining organizational goals and action plans for how to achieve those goals
Organizing
Determining a structure for both individual jobs and the overall organization
Leading
directing and motivating people to achieve organizational goals
Controlling
checking performance and making adjustments as needed
Mission
The definition of an organization's purpose, values, and core goals, which provide the framework for all other plans
Organization Chart
A visual representaion of the company's formal strucutre
Span of Control
Span of management, refers to the number of people that a manager supervises
Internal Recruitment
The process of seeking employees who are currently within the firm to fill open positions
External Recruitment
the process of seeking new emplyees from outside the firm
Hardware
The physical tools and equipment used to collect, store,organize, and process data and to distribute information
Software
Programs that provide instructions to a computer so that it can perform a desired task
System Software
Software that performs the critical functions necessary to operate the computer at the most basic level
Applications software
software that helps a user perform a desired task
databases
A file consisting of related data organized according to a logical system and stored on a hard drive or some other computer-accessible media
Data
raw, unprocessed facts and figures
About this deck
By: nicollette gutzwiller
Textbook: BUSN (with Review Cards and Printed Access Card)
Created: 2010-12-04
Size: 41 flashcards
Views: 42
Textbook:
BUSN (with Review Cards and Printed Access Card)Created: 2010-12-04
Size: 41 flashcards
Views: 42
About StudyBlue
STUDYBLUE makes things that make you better at school.
Things like online flashcards with photos and audio.
Things like personalized quizzes and friendly reminders about when (and what) to study next.
Think of it as a digital backpack™: access to all of your study materials online and on your phone.
STUDYBLUE exists to make studying efficient and effective for every student, for free. Join us.
“I have used this website for three exams, and I see a huge difference in my test results.”
Naj
Naj