Role
Non-personal promotion paid by companies to promote ideas, goods, or services
Advertising
Compensation structure that pays employees a percentage based on sales
Commission
Estimate of income and expenditure for a set period of time
Budget
Selling products and services directly to consumers
Business to Consumer (B2C)
Selling products to a retailer rather than the end user
Business-to-Business (B2B)
Resale of products between consumers
Consumer to Consumer (C2C)
Number of homes or individuals exposed to an advertisement or message
Audience
Record of economic transactions between a country and the rest of the world
Balance of Payment (BOP)
Difference in value between a nation's exports and imports
Balance of Trade
Business-to-consumer marketing; selling goods and services to individuals
B2C
Demographic cohort born between 1946 and 1964, associated with rejecting traditional values
Baby Boomers
Intentionally advertising a low-priced product to attract customers, then switching to a higher-priced or lower-quality product
Bait and Switch
High net worth person who provides capital for start-up businesses
Angel Investor
Diagram showing product markets, factor markets, households, and firms
Circular Flow Chart
Printed, paid presentation of ideas, goods, or services in an outdoor space
Billboard Advertising
Impression of a business based on various factors
Company Image
Unannounced visits by a salesperson to prospects
Cold-calling
Segmenting customers based on desired benefits
Benefits Sought
First face-to-face contact with the customer
Approach
Final step in the sales process when contracts are signed and goods/services are exchanged
Close the Sale
Managers make decisions individually without considering others
Autocratic Management Style
Document that transfers ownership of an asset from seller to buyer
Bill of Sale
Business-to-business marketing; selling goods and services to organizations
B2B
Economic system blending market economies with planned economies
Command
Amount of money added to wages based on good performance
Bonus