Term
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Definition
| Short, specific written statement of the reason a business exists and what it wants to achieve |
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Term
| Autorcratic Management Style |
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Definition
| Leader makes decisions without reference to anyone else |
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Term
| Democratic Management Style |
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Definition
| Encourages decision making from different perspectives leadership may be emphasized throughout the organization |
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Term
| LAISSEZ-FAIRE Management STYLE |
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Definition
| Let it be the leadership responsibilities are shared by all |
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Term
| Paternalistic Management Style |
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Definition
| Leader acts as a father figure |
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Term
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Definition
| The ability to motivate individuals and groups to accomplish important goals |
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Term
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Definition
| way people get along with each other |
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Term
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Definition
| Enables a person to affect the actions of others |
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Term
| Ethical Business Practices |
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Definition
| Ensure that appropriate standards of conduct are maintained by everyone who is a part of or affected by the business |
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Term
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Definition
| The important principles that will guide decisions and actions in the company |
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Term
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Definition
| Everything a business offers to satisfy a customers needs |
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Term
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Definition
| Activities that are consumed at the same time they are produced |
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Term
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Definition
| The money a customer must pay for a product or service |
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Term
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Definition
| the amount added to the cost of a product to set the selling price |
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Term
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Definition
| reduction from the original selling price |
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Term
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Definition
| the location and methods used to make a product or service available to the target market |
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Term
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Definition
| the route a product follows to make a product available to the target market |
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Term
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Definition
| the businesses that take part in a channel |
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Term
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Definition
| Any form of communication used to inform, persuade, or remind |
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Term
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Definition
| A companys plan that identifies how it will use marketing to achieve its goals |
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Term
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Definition
| blending of product, place (distribution), price, and promotion |
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Term
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Definition
| Considers the needs of customers when developing a marketing mix |
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Term
| Consumer Decision-Making Process |
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Definition
| Specific sequence of steps consumers follow to make a purchase |
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Term
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Definition
| Carefully designed studies involving consumers |
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Term
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Definition
| The reasons consumers decide what products and services to purchase |
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Term
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Definition
| A specific group of consumers who have similar wants and needs |
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Term
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Definition
| Everyday opportunities to connect with customers and reinforce their brands |
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