Production
All of the physical and mental work needed to produce goods or services is called this.
What is labour?
An accountant would be considered this type of labour because it requires extensive academic training.
What is professional labour?
A CEO is this type of level of management.
What is upper-level management?
This consists of a brand name, logo, and slogan.
What is branding?
This is the formula used by advertisers to make effective commercials.
What is the AIDA formula?
These are the two types of capital.
What are liquid capital and non-liquid capital?
This is the most common form of compensation where employees get a predictable amount of money every two weeks.
What is salary?
This type of leadership style is very controlling and doesn't seek opinions or consensus.
What is autocratic leadership?
This graph describes the change in consumer demand over time.
What is the product lifecycle?
This marketing tool contains four elements: demographics, psychographics, geographics, and product use stats.
What are consumer profiles?
This type of inventory system coordinate suppliers, factory and storage so that goods are available when they are needed.
What is a just-in-time inventory system?
When an employee voluntarily leaves a company most companies will sit down and do this in order to get feedback on the way a company runs.
What is an exit interview?
This level of management interprets the direction from the CEO, COO, or CFO.
What is middle management?
The pricing strategy matrix contains these four pricing strategies.
What are marketing skimming, penetration pricing, economy pricing, and premium pricing?
This is the percentage that one company’s product takes of the total dollars spent by consumers on products within a specific market category.
What is market share?
These are the four steps of the production process.
What are purchasing, processing, quality control, and grading?
This person is responsible for coordinating all activities involving the company’s employees.
Who is the Human Resources Manager?
This form of leadership is good when you have many experienced employees who need little direction.
What is laissez-faire leadership?
An example of this distribution strategy is when you buy apples from Loblaws.
What is a conventional distribution strategy?
This is the term used for companies that compete to earn your money, but which are unrelated in the products they offer.
What is indirect competition?
These are the 6 types of natural resources.
What are agriculture, water, fuel/energy, fish/ trapping, mining, and logging/forestry?
These are the three main responsibilities of the human resources manager.
What are hiring, training, and departures/dismissal/ and retirements?
These are the four jobs of a manager.
What are planning, organizing, leading, and controlling?
When businesses group customers based on similar characteristics based on their consumer profile information they are creating this.
What is a consumer segment?
These are the 4 P's of the marketing mix.
What are price, promotion, place, and product?