Marketing
Provide the 7 elements of the marketing mix
Product, price, place, promotion, physical evidence, process, people,
______ payment based on sales performance, often used in sales roles.
_________ involves raising small amounts of money from a large number of individuals, typically via online platforms.
Commission
Crowdfunding
This production method involves creating a single, unique product from start to finish to meet specific customer requirements.
job production
This tool helps managers prioritize stakeholders based on their level of power and their level of interest.
Stakeholder matrix
Stakeholder analysis
This marketing strategy involves setting a high price for a new, unique product to "skim" the top of the market.
price skimming
3 items under current assets
Debtors, stock, cash
This specific ratio measures how much profit a company generates with the money shareholders and lenders have invested.
ROCE
the formula for calculating the Break-even Point in units
fixed costs / price - variable cost per unit
In a Decision Tree, this is represented by a circle and shows where different outcomes may occur.
Node.
Chance or probability node
This is the process of splitting a large market into distinct groups of consumers with similar characteristics or needs.
Market Segmentation
the process of producing one-off, bespoke items tailored to meet specific customer requirements.
Customization
This ratio measures a firm's ability to pay its short-term debts using its most liquid assets, excluding inventory.
Acid test ratio - quick ratio
This is the difference between the actual output of a business and its break-even level of output.
margin of safety
List the five levels of Maslow
Physiological Needs
Safety Needs
Social (Love and Belonging) Needs
Esteem Needs
Self-Actualization
This sampling method involves selecting a group of people that represents the population as a whole in terms of specific proportions (e.g., age or gender).
Quota Sampling
facilities that house servers, storage, and networking equipment.
data centers
This is the name for the final amount of money left at the end of a month in a cash flow forecast, which becomes the starting point for the next month.
Closing balance
This term refers to the "lean production" approach of continuous, small incremental improvements made by all employees.
Kaizen
In the Ansoff Matrix, this strategy involves selling new products to existing markets.
product development
_______ is a product sold below cost to attract customers, with the expectation that they will purchase other profitable items.
loss leader
Formula to calculate COGS
(Opening Stock + Purchases) - closing stock
This term describes the relocation of a business's operations to another country to reduce costs.
Offshoring
This term describes the growth of a business through the use of its own resources, such as reinvesting profits.
Internal / Organic Growth