Marketing
Process of dividing a market into distinct groups of buyers?
Market Segmentation
When business is not doing something necessary or required
Negligence
Process of keeping financial records
Accounting
Rivalry between or among businesses that offer similar types of goods/services
Direct Competition
Form of business by which the owner (franchisor) of a product obtains distribution through affiliated dealers (franchisees)
Franchise
Term for the combination of product, price, place, and promotion
Marketing Mix
Purposeful deception to secure unfair/unlawful gain
Fraud
What financial statement shows a company's revenue and expenses over a period of time?
Income Statement
Type of market structure where the market is controlled by one supplier with no substitutes
Monopoly
The union of two companies to form a single new business
Merger
Selling things in large amounts to other businesses rather than individual customers
Wholesale
Sales technique to suggest a higher priced product than the one customer originally requests
Up-Selling
The movement of money in or out of a business, project, or product in a specific time
Cashflow
What economic concept involves cost of the next best alternative?
Opportunity Cost
Term for assessing risks and planning strategies before starting a business?
Feasibility analysis
What is it called when satisfied customers recommend a product or service to others?
Word-of-mouth publicity
Return of part of the price a customer pays for a good or service by the manufacturer
Rebate
Balance Sheet
Best time for producers to sell, characterized by large demand, small supply and high prices
Seller's Market
group of individuals elected by shareholders and charged with overseeing the firm's actions
Board of Directors
Act that helps businesses protect their workers and reduce the number of workplace deaths, injuries and illnesses
OSHA
The ability to identify, assess, and influence one's own feelings and those of others
Emotional Intelligence
Money that is owed to a business, they are an asset without physical presence
Accounts Recievable
Market structure with few sellers and industry leaders determine prices
Oligopoly
Relationship between shareholders, the board of directors, and other top managers in the corporation.
Corporate governance