Business Dictionary
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An alphabetical listing of General terms and items. |
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A small family-run business.
the branch of economics that studies national income and the economic systems of national economies.
A form of retailing in which consumers order products from a catalogue for delivery to their home.
The use of professional skills for identifying and achieving organizational objectives through the deployment of appropriate resources. The art of conducting and supervising a business.
A set of potential or real buyers or a place in which there is a demand for products or services. Actual or potential buyers of a product or service.
The study of a market to identify and quantify business opportunities.
Total volume purchased in a specific geographic area by a specific customer group in a specified time period under a specified marketing program.
Marketing activities designed to increase the overall size of a market through education and awareness.
An anticipated demand that results from a planned marketing expenditure.
The period of time that a substantial segment of the buying public is interested in purchasing a given product or service form.
A well-defined group of customers for which what you have to offer is particularly suitable.
If near term income is not critical and rapid market penetration for eventual market control is desired, then you set your prices very low.
Finding a market niche that emphasizes the strengths of a product or service in relation to the weaknesses of the competition.
A company's percentage share of total sales within a given market.
Choosing a marketing strategy in terms of competi tive strengths and marketplace realities.
Possessing the potential to be commercially viable.
One of the main management disciplines, encompassing all the strategic planning, operations, activities, and processes involved in achieving organizational objectives by delivering value to customers. Marketing management focuses on satisfying customer requirements by identifying needs and wants.
The set of product, place, promotion, price and pack aging variables, which a marketing manager controls and orchestrates to bring a product or service into the marketplace.
The systematic design, collection, analysis and reporting of data regarding a specific marketing situation.
The difference between the cost of a product or service and its selling price.
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Developed by Karl Marx and Friedrich Engels in the 19th century, Marxism refers to the idea that all evolving economies ultimately take the same course: Feudalism to capitalism and eventually ending up as a socialist or communist environment where economic and social classes no longer exist.
Selecting and developing a single offering for an entire market.
Normally raw or processed materials such as coal or steel that will become part of the purchaser's end product.
Goods bought and sold in a business. "Merchandise" or stock is a part of inventory.
An owner-operated business with few employees and less than $250,000 in annual sales.
Marketing to individuals or very small groups.
A person or company that performs functions or renders services involved in the purchase and/or sale of goods in their flow from producer to consumer.
Is an individual whose net worth is equivalent to or greater than one million dollars or one million British pounds. Individuals who quantify their worth in other currencies qualify as millionaires based on the exchange rate and their estimated value in dollars or pounds.
Mitigation of Global Warming refers to the actions taken by individuals or corporations to reduce the greenhouse gas emissions in order to minimize their effects on global climate change.
Monetary Reserve: A nation's assets in foreign currency and/or commodities like gold and silver, which are used to back up the national currency. Monetary reserves also provide a cushion for executing central banking functions like adding to the money supply and settling foreign exchange contracts in local currencies.
Is a loan used to purchase property, often referred to as a mortgage or a home loan.
Also known as network marketing. Rather than hiring sales staff, multilevel sales companies sell their products through thou sands of independent distributors. Multilevel sales companies offer dis tributors commissions on both retail sales and the sales of their "down-line" (the network of other distributors they sponsor).
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