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| A theoretical construct designed to assess a person's perceived control over his or her own behavior. |
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| a corporation consisting of a number of subsidiary companies or divisions in a variety of unrelated industries, usually as a result of merger or acquisition. |
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| Vertical mergers or vertical integration happens when the acquiring firm buys buyers or sellers of goods and services to the company. In other words, a vertical merger is usually between a manufacturer and a supplier. It is a merger between two companies that produce different products or services along the supp |
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| Horizontal mergers are often a type of non-financial merger. In other words, a horizontal merger is undertaken for reason that have little to do with money, at least directly. |
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| the act or process of combining two or more businesses into one business |
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| Middlemen - They facilitate the movement of products from the producer to the consumer. They must add value to be effective. |
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| Multipreneurship is a general term used to describe individuals who pursue multiple upwardly entrepreneurial and/or lifestyle business ownership initiatives. |
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| Turning Products into finished goods |
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| Providing Products at the right time |
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| Offering products at the right place |
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| Providing Credit, cashing checking, delivering products |
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| Offering helpful information |
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| Providing fast, friendly personalized service |
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| Business to Business selling |
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| Business to Consumer selling |
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| a supply chain management technique in which the retailer does not keep goods in stock, but instead transfers customer orders and shipment details to either the manufacturer or a wholesaler, who then ships the goods directly to the customer. |
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| a jobber or wholesaler who makes calls carrying goods on a truck, thereby being able to take and deliver orders on the same call. |
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| Cash and Carry Wholesaler |
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| a system of wholesale trading whereby goods are paid for in full at the time of purchase and taken away by the purchaser. |
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| a jobber or wholesaler who makes calls carrying goods on a truck, thereby being able to take and deliver orders on the same call. |
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| a person who buys and sells goods or assets for others. |
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| Full Service Merchant Wholesaler |
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| a wholesaler offering a complete range of services including buying, selling, storage, transporting, sorting, financing, providing market feedback and risk-taking |
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| Limited Service Merchant Wholesalers |
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| a wholesaler providing less than the full range of services of some other wholesalers but attempting to compensate for this by offering lower prices |
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| Multi-level marketing (MLM) is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of the other salespeople that they recruit |
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| Customer communications and product distribution are supported by a combination of digital and traditional channels at different points in the buying cycle. |
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| a large store, typically one of a chain, that specializes in a particular type of discounted merchandise and becomes the dominant retailer in that category. |
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| grant a license to (someone or something) to permit the use of something or to allow an activity to take place. |
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| Entering foreign markets by joining with foreign companies to produce or market a product or service. |
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| Market cannibalization refers to a situation where a new product "eats" up the sales and demand of an existing product. This can negatively affect both the sales volume and market share of the existing product. Market cannibalization occurs when a new product intrudes on the existing market for the older product, rather than expanding the company's market base. |
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| Advertising in video games and in video game marketing is a long-standing practice in the video game industry. Various methods have been used to integrate advertising into video games to advertise products, organizations or viewpoints. |
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| Marketing buzz or simply buzz — a term used in word-of-mouth marketing — is the interaction of consumers and users of a product or service which serves to amplify the original marketing message, a vague but positive association, excitement, or anticipation about a product or service. |
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| Allows manufacturers to maintain more control over the way their products are sold and discourages price competition among sellers of the products by distributing their products only to those wholesalers and retailers who follow the manufacturer's guidelines. |
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| Luxury goods only found in one place. |
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| Goods distributed everywhere - easy to aquire, high demand ie gas station items |
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| Limited Liability Partnership |
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| A limited liability partnership is a partnership in which some or all partners have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence. |
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| A limited partnership is a form of partnership similar to a general partnership, except that in addition to one or more general partners, there are one or more limited partners. It is a partnership in which only one partner is required to be a general partner. |
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| In the commercial and legal parlance of most countries, a general partnership, refers to an association of persons or an unincorporated company with the following major features: Created by agreement, proof of existence and estoppel. |
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| Limited Liability Company |
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| A limited liability company is a flexible form of enterprise that blends elements of partnership and corporate structures. An LLC is not a corporation; it is a legal form of company that provides limited liability to its owners in the vast majority of United States jurisdictions. |
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| Penetration pricing is the pricing technique of setting a relatively low initial entry price, often lower than the eventual market price, to attract new customers. The strategy works on the expectation that customers will switch to the new brand because of the lower price. |
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| Green marketing is the marketing of products that are presumed to be environmentally safe. Thus green marketing incorporates a broad range of activities, including product modification, changes to the production process, packaging changes, as well as modifying advertising. |
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| Environmental scanning is one essential component of the global environmental analysis. Environmental monitoring, environmental forecasting and environmental assessment complete the global environmental analysis. |
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| research that gathers and analyzes information about the moving of good or services from producer to consumer |
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| a combination of factors that can be controlled by a company to influence consumers to purchase its products. |
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| Dividing consumers into groups based on selected demographics, so that different groups can be treated differently. |
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| Geographic segmentation is the use of Analytics to categorize a site’s web traffic by the physical locations from which it originated. |
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| psychographic segmentation |
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| A breakdown of customers according to different characteristics. |
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| Mass customization, in marketing, manufacturing, call centres and management, is the use of flexible computer-aided manufacturing systems to produce custom output. Those systems combine the low unit costs of mass production processes with the flexibility of individual customization. |
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| A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise towards. A well-defined target market is the first element to a marketing strategy. |
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| Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs, and then designing and implementing strategies to target their needs and desires using media channels and other touch-points that best allow to reach them. |
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| designate (a product or service) with the brands of joint manufacturers or sponsors. |
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| an instance of using an established brand name or trademark on new products, so as to increase sales. |
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| A product line extension is the use of an established product’s brand name for a new item in the same product category. |
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| the promotion of a particular product or company by means of advertising and distinctive design. |
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| a combination of two things, esp. companies, into one. |
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| C corporation refers to any corporation that, under United States federal income tax law, is taxed separately from its owners. A C corporation is distinguished from an S corporation, which generally is not taxed separately. Most major companies are treated as C corporations for U.S. |
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| An S corporation, for United States federal income tax purposes, is a corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. In general, S corporations do not pay any federal income taxes. |
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| an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, e.g., providing a broadcasting service or acting as an agent for a company's products. |
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| the activity or profession of producing advertisements for commercial products or services. |
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| a large store stocking many varieties of goods in different departments. |
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| Capitalizing on the convenience & location, Necessity items. Think gas stations, CVS |
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| Sells goods at less than the average retail price |
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| An outlet store or factory outlet is a brick and mortar or online retail store in which manufacturers sell their stock directly to the public. |
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| a store that sells only one kind of merchandise |
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| a large self-service store selling foods and household goods. |
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| A big-box store is a physically large retail establishment, usually part of a chain. The term sometimes also refers, by extension, to the company that operates the store. |
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| an organization that operates from a large out-of-town store and sells goods in bulk at discounted prices to business and private customers who must first become club members. |
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| Types of Business Ownership |
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Definition
The sole proprietorship
The partnership
The corporation
The limited liability company |
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| business that is owned, and usually managed, by a single individual. ADVANTAGES: Ease of formation, retention of control, pride of ownership, retention of profits, possible tax advantage |
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| a voluntary agreement under which two or more people act as co owners of a business. ADVANTAGES: Ability to pool financial resources, share responsibilities, capitalize on complimentary skills, ease of formation, possible tax advantage |
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