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Criado por lucy.merrell
mais de 10 anos atrás
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Questão | Responda |
Added value | the difference bewteen what the business pays it's suppliers and the price that it is avaliable to charge for the product/service, the increased worth that a business created for a product |
Blue skies thinking | a techniques of creative thinking where participunts are encouraged to think of as many ideas or a problem |
boston matrix | a model which analyses a product protfolio according to the growth rate of the whole maket of a product within that market; a product is placed in one of four categories - star, cash cows, problem child or dog. |
brand | a named product which customers see as being different from other products and which they can associate or identify with. |
brand image | the idea/impression/vision that customers have in their minds about the brand. |
calculated risk | the probability of a negative event occuring. |
companies | business whose shareholders have limited liability. |
competivite advantage | An advantage that a business has that enables it to perform better than it's rivals in the market and which is both distinctive and defeensible. |
consumer | The person who ultimatley uses (or consumes) a product. |
copyright | legal ownership of material such as books, music, films which prevents these being copied by others. |
coroporation tax | a tax on the profits of limited companies. |
creative thinking | coming up with new and unique ideas |
customer | Any person or organisation which buys or is supplied with a product by a business |
customer loyalty | the willingness of uyers to make repeated purchases of a product or a form a business. |
customer needs | The wants and desires of buyers of a product or the customers of a business |
deliberate creativity | the intentional creation of new ideas through recongnised and accepted technique |
downsides | the disadvantages of a course of action, including what can go wrong. |
driven | keen and motivated |
enterprize | A wilingmess by an individual or a business to take risks, show initiative and undertake new ventures. |
entrepeeneur | a person who runs and owns their own business and takes risks. |
extension strateguy | a method used to increase the life of a product and prevent it falling into decline. |
financial objectives | aims expressed in money terms such as making a profit, earning income or building wealth. |
focus group | In market research, a group of people brought together to answer questions abd discuss a product, band or issue. |
franchise | the right given by one business to another to sell goods or services using it's name. |
franchisee | a business that agrees to manacture, distribute or provide a branded product under license by a franchisor |
franchisor | the business that gives franchisees the right to sell it's product, in return for a fixed sum of money or a royalty product |
gap in the market | an orignial idea which fills a gap in the market |
goods | something you can touch |
HM revenue & customs | the government authorites in the uk responsible for collecting tax. |
income tax | a tax on the value of income earned by workers; this inlcudes sole traders who have to pay income tax on their net earnings. |
innovation | the process of transforming invetions into products that can be sold to customers. |
invention | the discovery of new processesses and potential new products typically after a period of research. |
lateral thinking | thinking diffrently to try and find new and unexpected ideas. |
limited liability | when shareholders of a company are not personally liable for the debts of the company ; the most they can loose is the value of their investment in the shares of the company. |
Market map | a diagram that shows the range of possible positions for two features of a product, such as low to high price and low to high quality. Also called precerptual map or positioning map |
markets | where buyers and sellers meet to exchange goods and services. |
marketing | the management process that is responsible for anticipating , identifying and satisfying customer needs profitably. |
marketing mix | the combination of factors which help the business to take into account customer needs when selling a product also known as the 4p's price, product, place and promotion. |
market research | You need to find out customers wants and needs through primary and secoundary research. |
market segment | part of a market that contains a group of buyers with similar buying habits, such as age or income. |
mind map | a diagram that shows new ideas or anything you want it too, |
national insurance contributions | a tax on the earning of workers which are paid by the employers on the wages of their workers; employees and sole traders have to pay national insurance contributions on their earnings. |
non-financial objectives | goals for a business which aren't related to money but to personal satisfaction |
patent | right of ownership of an invention or process when it is registerd with the government. |
sole trader | the only owner of a business which has unlimited liability. |
unlimited liability | a legal obligation on the owner of a business to settle (pay of) debts of the business. In law, there is no distinction between what the business owes and owns and what the business owner owes and owns. |
value added tax | a tax on the value of sales; it is paid by business to government. |
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