Ch 7
An advantage to buying an existing business is that it may have built up______, or customer loyalty.
What is Goodwill?
I have the right to market this product in a particular area. Business ownership type.
Franchise
_____ are distributions of corporate profits to the shareholders
What are dividends?
A(n) _____ is a name, symbol, or special mark used to identify a business.
What is a trade mark?
The coordination of manufacturers, suppliers, and retailers working together to meet a customer need for a product or service
What is supply chain management?
A(n) ______ is a relationship that allows one party to act in a way that legally binds another party.
What is an agency?
As an entrepreneur, I am the only owner of this business. What type of business ownership am I?
What is a sole proprietorship?
_____ means that a corporation’s profits are taxed as corporate income and again as individual income
What is double Taxation?
A(n) _____ is an expert on determining the value of a business
What is a valuator?
Purchase decisions that are based on the desire to have a specific product or service
What are emotional buying decisions?
A(n) _____ is a wrong against people or organizations for which the law grants a remedy.
What is tort?
We have an agreement and it is legally binding.
What is a contract?
Ownership of a(n) _____ is in the form of shares of stock.
What is a corporation?
A(n) _____ occurs when a company buys a competing firm.
A nonpaid form of communication that calls attention to your business through media coverage
What is publicity?
A(n) _____ is the person who purchases a franchise agreement.
What is a franchisee?
What is intellectual property?
A(n) _____ is the grant of a property right to an inventor to exclude others from making, using, or selling his or her invention.
What is a patent?
Who launched Instagram in 2010?
Who is Kevin Systrom?
Purchase decisions that are based on the logical reasoning of customers
What are rational buying decisions?
_____ are distributions of corporate profits to the shareholders.
What are dividends?
I use this symbol to represent me and the body of work that I produce. What am I?
What is a trademark?
_____ are weekly or monthly payments made by the local owner to the franchise company.
What are Royalty Fees
Which classmate had the funniest WICR Wednesday poster?
Who is Elijah?
The act of establishing a favorable relationship. with customers and the general public
What is public relation?