political + economic systems
government in which citizens can influence laws of the government and are allowed certain rights and freedoms; includes presidential and parliamentary democracies
what is democratic government
specific group of customers a company attempts to aim their products at
what is target market
resources that can be used multiple times
occurs within an organization
what is Internal Communication
statement showing a strong belief in or dedication to something
what is an affirmation
economy based on competition, supply and demand, individual rights, and economic profit
what is market economy
activities performed to boost the sales of a product or service
promotion
resources used to create a good or service
what is Economic Resources
third section of a business plan; includes details concerning proposed organization, proposed product, and proposed marketing plan
what is Organization and Marketing Plan
study of individual economic units such as businesses and households
what is microeconomics
estimate of the adjustment necessary on the exchange rate so an exchange will be equivalent to each currency’s buying power
what is purchasing power parity (PPP)
the difference between the amounts of money it costs a company to manufacture a product compared to the cost they charge customers for it
what is mark up percentage
the scientific study of how governments, households or businesses deal with production, distribution and consumption of goods and services
economics
type of leadership that gives little or no direction; gives opinions only upon request and has no “in charge” position
what is Laissez Faire
person’s overall sense of worth or personal value
what is self esteem
integration of the world’s economy through increased international business
what is globalization
the four components of the marketing mix are all directly related and reliant on one another
what is interdependence
resources that can only be used once
what is a Nonrenewable Resources
type of management that trusts employees’ work ability, has a high workload and is confident
study of economies as a whole; the “Big Picture”
what is Macroeconomics
practice by which nations conduct relationships with one another
what is diplomacy
the re-sale of goods by retailers
what is wholesale
changes land into goods and services; also referred to as human resources
what is labor
type of leadership that involves the group and promotes a sense of teamwork
what is democratic
mental picture a person has of himself or herself
self image