ACRONYMS
SBE (The Snack Shack)
What is Student-Based Enterprise?
Telephone solicitation to make a sale.
What is Telemarketing?
The graphic symbol for a company, brand or organization.
What is a logo?
A company's ownership or organization that is owned by a single person.
What is sole-proprietorship?
The United State Economic system.
What is Capitalism or Free Enterprise?
BBB
What is the Better Business Bureau?
The 4 P's of Marketing
What are Product, Price, Promotion and Place?
A catchy phrase or word that identifies a product of service, usually appears below the logo.
What is a tagline or slogan?
Ownership, interest or 'stake' in a company.
What is equity?
Income, excise, estimated and self-employment are all examples of this.
What are taxes?
SKU
What is Stock-Keeping Unit?
The activity for creating, communicating and delivering offerings that have value for the customer
What is Marketing?
One of the 4 P's that deals with commercials, billboards and ads.
What is Promotion?
Refers to the amount an owner considers the business worth.
What is valuation?
This is a plan (you did one) for a partnership and your future when one person wants out.
What is an exit plan (strategy)?
POP
What is Point-Of-Purchase?
The difference between an items' cost and the sales price.
What is Mark-up?
A sentence in an advertisement that captures the reader's attention and entices them to read the rest of the ad
What is a Headline?
The process of starting a business or other organization.
What is Entrepreneurship?
In Monopoly when the government has control of everything it's called a command economy and the economic system that controls certain countries is run this way.
What is Communism?
UPC
What is Universal Product Code?
S.W.O.T. - Used as a research tool, what does this stand for
What are Strengths, Weaknesses, Opportunities and Threats?
A name, term, design, symbol or combination of these elements that identifies a business or service and sets it apart from it's competitors.
What is a brand?
A new method, idea or product.
What is innovation?
It's a Law! Everything else being equal, more products will be demanded at a lower price than a higher price.
What is the Law of Demand?