Term
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Definition
| the process of planning and making the final decision |
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Term
| 5 functions of management |
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Definition
| planning, organizing, staffing, directing and controlling |
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Term
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Definition
| What managers must be able to do if thy want employees to understand the bussiness goals and be productive |
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Term
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Definition
| the part of a brand that can be spoken |
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Term
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Definition
| manufacturer, individual, family, and private |
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Term
| 3 stages of brand loyalty |
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Definition
| recognition, price, and preference |
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Term
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Definition
| when two compaines join forces example: pretzel m&ms |
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Term
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Definition
| body of knowledge that relates to producing and using goods and services that satisfy human wants |
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Term
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Definition
| form, place, time, possession |
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Term
| Consumer price index (CPI) |
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Definition
| a measure of the average change in prices of consumer goods and servies typically purchased by ppl living in urban areas |
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Term
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Definition
| a business that takes over a market and allows no competition |
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Term
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Definition
| providing info to consumers that will assist them in making a decision to purchase a product or service |
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Term
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Definition
| type of promotional message that aims to persuade customers to buy a particular product or service |
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Term
| how does promotion help economy grow |
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Definition
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Term
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Definition
| blend of personal selling, publicity, elements of advertisment, and sales promotion |
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Term
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Definition
| a procedure designed to identify solutions to a specific marketing promblem through the use of scientific problem solving |
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Term
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Definition
| a group of people who are not bias |
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Term
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Definition
| the most popular data collection method |
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Term
| difference between internal data and external data |
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Definition
internal: within a business
external: somewhere else |
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Term
| 4 categories of research objectives |
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Definition
1. to explore current situation (EXPLORATORY research)
2. to define the current situation (DESCRIPTIVE research)
3. to test the situation (CASUAL reseach)
4. to predict future situations (PREDICTIVE research) |
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Term
| AMA definition of marking |
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Definition
| the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and servies to create exchanges that satisfy indivual and organziational objectives |
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Term
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Definition
| product place price promotion |
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Term
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Definition
| gas, computer paper, chairs |
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Term
| what is the average cost of marketing as a percentage f the selling porcent |
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Definition
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Term
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Definition
| how well people gett along when working together |
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Term
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Definition
| a dynamic of being mutually and physically responsible to and sharing a common set of principles with many others |
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Term
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Definition
| authoritarian, democratic, and laissez-faire |
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Term
| poor human relation skills |
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Definition
| the primary reason people lose/leave their job |
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Term
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Definition
| mgt style that provides only general guidence to employees |
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Term
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Definition
| a business' obligation to weigh the consequences to all stakeholders before making decisions |
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Term
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Definition
| the expectations and behaviors of a business that set it apart from its competitiors through improvments in quality, value, or delivery |
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Term
| true of false: most business experts believe that companies have social responsibility to their competition |
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Definition
| false, the do not believe this |
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Term
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Definition
| the standards that help determine what is good, right, and proper |
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Term
| what are 3 ways a business can change its products to gain competitive advantage |
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Definition
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Term
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Definition
| any person affected by a business; employee, boss, manager |
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