Concentrating effort on one thing or a few related activities so that they can be done well is called:
Specialization of labor
100
Not relying on others for the things you need to survive is called:
self-sufficient
100
The business function that creates or obtains products or services for sale is called:
Production
100
The ongoing activities designed to support the primary function of a business and keep it operating efficiently is called:
Operations
100
Anything offered to a market by the business to satisfy needs, including physical products, services, and ideas is called:
Product
200
The prospective customers a business wants to serve and the location of those customers is called:
Market
200
A location where people bring products to be conveniently exchanged is called:
Central market
200
The use of currency as a recognized medium of exchange iis called:
money system
200
Locations and methods used to make the product available to customers is called:
Distribution
200
This focuses on developing loyal customers who continue to purchase from the business for a long period of time is called:
Relationship marketing
300
The creation and maintenance of satisfying exchange relationships is called:
Marketing
300
Includes the methods used and information communicated to encourage customers to purchase and to increase their satisfaction is called:
Promotion
300
Using the needs of customers as the primary focus during the planning, production, pricing, distribution, and promotion of a product or service is called:
Marketing Concept
300
This involves developing, implementing, and evaluating the plans and activities of a business is called:
Management
300
The business function that plans and manages financial resources and maintains records and information related to a business's finances is called:
Accounting and finance
400
The actual amount customers pay and the methods of increasing the value of the product to the customers is called:
Price
400
Exchanging products or services with others by agreeing on their values is known as:
Bartering
400
Offering products produced or manufactured by others for sale to customers is called:
Merchandising
400
An approach to customer service that gives employees the authority to solve many customer problems is called:
Employee empowerment
400
The blending of the four marketing elements by the business is called:
Marketing mix
500
Name the 4 P's of marketing.
Product, Place (Distribution), Price, and Promotion
500
The PRODUCTION ERA happened in what decade of the 1900's?
1900s-1920s
500
The MARKETING CONCEPT ERA happened in what decade of the 1900s?
1970s-Today
500
The SALE ERA happened in what decade of the 1900s?
1930s-1940s
500
The MARKETING DEPARTMENT ERA happened in what decade of the 1900s?