Finance
First step in accounting cycle
Collecting all source documents
an individual or group who buys products
What is a customer?
Divides market on the basis of its physical and social characteristics.
Ex. gender, education, age, and family life cycle.
Demographics
A tax on imports.
What are tarifs?
An analysis of a company's strengths, weaknesses, opportunities, and threats
What is a SWOT analysis
the ease with which an asset, or security, can be converted into ready cash without affecting its market price.
What is liquidity?
The specific group of customers whose needs a company will focus on satisfying
What is Target Market?
A private residence that has been turned into an owner-operated commercial inn, usually with only four or five guest rooms, and in which breakfast is included with the cost of the room.
Bed and Breakfast (B&B) -
when their losses are limited to the amount of money that they have invested in the business
What is limited liability?
Business activities conducted via the Internet
E-Commerce
the total amount of money being transferred into and out of a business, especially as affecting liquidity.
What is Cash flow?
A condition in which there are not enough resources to meet needs
What is Scarcity
leaders try to give the least possible guidance to subordinates, and try to achieve control through less obvious means. They believe that people excel when they are left alone to respond to their responsibilities and obligations in their own ways.
Lassiez Faire
A market that has a large number of buyers and sellers of identical products characterizes...
Perfect Competition
..... refers to the total number of product lines a company offers to its customers. For example, your company may sell multiple lines of products. ... Or your product lines may be vastly different, such as diapers and razors.
Product Mix
a financial services company or corporate division that engages in advisory-based financial transactions on behalf of individuals, corporations, and governments.
What is an Investment Bank?
Handles activities involved in getting products from producers to customers
What is Channel Management
A pricing strategy in which the price of rooms is adjusted based on consumer demand, rising in periods of peak demand and falling in the "slow season."
Yield management
Rick works for Sugar Sweets, a procedure of chocolate-cream pies. It is his job finds vendors that sell the best-quality pie containers at the best price for the company, order the correct quantity, and makes sure they are delivered to the company on a timely basis. What business activity is he performing?
Purchasing
A situation in which a group of competitors gets together and sets the price for a specific product; they then all agree to sell that product for the same price
What is Price fixing?
a way of spreading out cost over time
(Hint: Think about accounting, The answer is not Depreciation)
Amortization
1. Awareness of need or problem
2. Information search
3. Evaluation of options
4. Decision to buy
5. Purchase
6. Post-purchase evaluation
Are all apart of the...
Consumer decision-making process
An up-and-coming international hotel chain invited a popular
syndicated television show host to stay at one of its hotels for a night and then share her experiences with her viewing audience and blog readers. The hotel chain asked the talk show host to act as a(n) ________ in its word-of-mouth marketing campaign.
Influencer
A legal contract between a buyer and seller that describes the quantity, price, and products ordered, terms of payment, and delivery that is transmitted electronically over the Internet.
Electronic Purchase Order
the Threat of new market players, the threat of substitute products, power of customers, power of suppliers, and industry rivalry which determines the competitive intensity and attractiveness of a market are all apart of _____ 5 _____
Porter's 5 forces