Marketing
The sum of all activities involved in selling goods and services to satisfy consumer wants and needs
What is marketing?
Something that is popular for a short period of time
What is a fad?
Someone that makes a product.
What is a producer?
A deposit account that is held at a retail bank that earns interest
What is a savings account?
A financial institution that accepts deposits from the public and creates credit
What is a bank?
A specific group of consumers that will buy a product
What is a target market?
A person who takes risks and starts a venture to solve a problem or to take advantage of an opportunity
What is an entrepreneur?
The cycle is the natural rise and fall of economic growth occurs over time.
What is the business cycle?
A payment from a borrower to a lender
What is a loan?
A financial charge imposed upon a taxpayer by a governmental organization
What is tax?
This C of the marketing mix is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth.
What is competition in the marketing mix?
Something that has been modified or changed
What is an innovation?
A business that doesn’t look to make a profit, extra money goes to improving services.
What is a Not for Profit Business?
The cost required for something; the money spent on something
What are expenses?
A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something
What is profit?
Establishing an identity for a product that differentiates it from the competition
What is branding?
The chance of a possible loss of money or reputation that entrepreneurs take when starting a new venture
What is a risk?
A business owned by the Provincial or Federal Government.
What is a Crown Corporation?
A sustained increase in the general price level of goods and services in an economy over a period of time
What is inflation?
All of the shares into which ownership of the corporation is divided
What are stocks?
Also called a no name brand, this brand has the lowest cost because the labeling and packaging is cheaper and there is no promotion
What is a generic brand?
A business undertaking involving some risk, established with the expectation of gain or profit
What is a venture?
Trough, Recovery, Peak, Recession.
What are the 4 stages of the business cycle?
A system of money in general use in a particular country
What is currency?
A resource owned by a person or business that is owned that can be sold or converted to cash
What are assets?