Term
| What is the most basic definition of Marketing? |
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Definition
it is :
- Find best Prices
- Identify product features
- Question sellers
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Definition
- Product
- Price
- place
- Promotions
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Term
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Definition
- Production
- Sales
- Marketing concept
- Customer Relationships
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Term
| What was so great about the Sales Era? |
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Definition
| There was unlimited market space |
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Term
What 3 factors make-up the marketing concept?
HINT: Orientations |
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Definition
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Term
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Definition
| Customer Relationship Management |
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Term
| What are the 3 main responsibilities of a CRM? |
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Definition
Their main responsibilities are all devoted to the customer to:
- Learn
- Satisfy
- Enhance satisfaction to maintain and build customer loyalty
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Term
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Definition
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Definition
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Term
| What are the stages of Product Line Cycles? |
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Definition
- Introduction
- Growth
- Maturity
- Decline
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Term
| What are 2 major markets in business? |
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Definition
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Term
| What does the consumer market consist of? |
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Definition
| All individuals who want goods or services for use, consumption, or resources |
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Term
| What does a B2B consist of? |
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Definition
Individual or organizations that are want to buy goods and services to produce more goods and services
-OR-
Financial Audit |
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Term
| Who is responsible for preparing financial statements for financial managers? |
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Definition
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Term
| What are 3 specific ways a firm can fall financially? |
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Definition
1. Under capitalization
2. Poor cash-flow control
3. Poor expense Control |
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Term
| What is the purpose of internal audits? |
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Definition
| Help accountant statements be more reliable and accurate |
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Term
| Whom is responsible for planning for Long-Term assets? |
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Definition
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Term
| What type of forecast is based on predicted revenues & expenses for the next 12 months? |
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Definition
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Term
| What do financial controls do? |
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Definition
| They identify variances in financial plans and take corrective action to fix them |
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Term
| What does "Time Value of Money" refer to? |
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Definition
| Money is more valuable now than later |
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Term
| What budget would all supplies, salaries, rent, travel and advertisement fall under? |
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Definition
| Operating (Master) Budget |
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Term
| If a firm compares incurred expenses to the predicted expense report, what is the firm doing? |
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Definition
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Term
| What is capital expenditure? |
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Definition
| they are major Long-Term investments |
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Term
| What type of financing raises funds through forms of borrowing? |
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Definition
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Term
| If a firm decides to raise funds via sales of stock; what is this called? |
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Definition
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Term
| What Need is there for Day-by-Day managing/ |
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Definition
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Term
| What are the 3 types of budgets? |
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Definition
1. Capital Budget
2. Cash Budget
3. Operating (Master) Budget |
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Term
| What does the capital budget monitor? |
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Definition
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Term
| What does the Cash Budget monitor? |
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Definition
| A particular time of in and out cash-flow |
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Term
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Definition
| It is transforming Assets to cash |
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Term
| What is it when a firm uses leverage? |
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Definition
| They borrow money to run firm |
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Term
| What do Cash-flow statements show? |
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Definition
| Where the money is spent internally and externally at a firm |
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Term
| How do we find Return on Sales? |
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Definition
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Term
| How do we find the Return on Equity? |
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Definition
| Net Income (AFTER TAXES)/ Owner's Equity |
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Term
| What is on an Income Statement? |
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Definition
1. Revenues
2. Cost of goods sold
3. Gross Profit
4. Operating Expenses
5.Net Income after taxes |
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Term
| What do Financial Statements indicate? |
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Definition
- A firms Health and Stability
- Key factors in management decision making
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Term
| What type of document summarizes a firm's transaction of a year? |
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Definition
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Term
| What type of Document shows what is owed on a CERTAIN DAY? |
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Definition
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Term
| What is an Income Statement? |
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Definition
| A document that shows a firm's revenue over a specific time period |
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Term
| What do cash-flow statements indicate? |
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Definition
| A cash flow statement highlights the cash going in and going out of a firm |
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Term
| What is the most fundamental equation to find assets? |
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Definition
| Assets = Liabilities+ Owners Equity |
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Term
| What are the 3 types of assets? |
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Definition
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Term
| What type of Asset has Liquidity of a year? |
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Definition
| Current Assets are the product of inventory of a firm that is short-term and easily converted into cash |
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Term
| What type of asset is a building or the land a firm owns considered? |
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Definition
It is a Fixed Asset:
Long-Term
Relatively permanent |
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Term
| What is an Intangible Asset? |
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Definition
| It is something that hold value, but doesn't have a physical form, Long-Term |
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Term
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Definition
| An Asset is anything that holds value and is an Economic Resource |
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Term
| What is Integrated Marketing Communication used for? |
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Definition
| To combine marketing and Promotions |
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Term
| Where might you see b2b and b2c? |
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Definition
B2B:
Would be in a trade show
B2C:
Would be coupons |
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Term
| How much was spent on advertising last year? |
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Definition
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Term
| What is it called when you are Face-to-Face with a customer for presentation and promotion of a product? |
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Definition
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Term
| What are the steps to decision making in a B2C? |
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Definition
- Follow-up
- Close Sale
- Make Presentation
- Ask Questions
- Approach
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Term
What is the Product Cycle?
&
What are the Stages? |
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Definition
It is the life of a product
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- Intro
- Grow
- Mature
- Decline
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Term
| What is the clear difference between publicity and advertisement? |
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Definition
| Publicity is the causation of advertisement and Publicity is to give notice to a product, person, or an event that is not specifically requested |
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Term
| What is the definition of a trademark? |
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Definition
| It is a Legally protected symbol that no other company may use |
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Term
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Definition
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Term
| What do Loyalties invoke in consumers? |
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Definition
| A degree to which consumers further business with that firm |
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Term
What helps P2C?
&
What is it called? |
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Definition
Intermediaries
&
Channel of Distributions |
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Term
| What is a Perfect promotion? |
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Definition
| When a customer NEEDS your Product |
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Term
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Definition
- Product
- Price
- Place
- Promotions
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Term
What is Primary Data?
&
What is Secondary Data? |
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Definition
| Primary Data is information that has not been previously collected; while, secondary is already collected and organized. |
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Term
| What are the steps a consumer should take to make a purchase on a product? |
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Definition
- Problem Recognition
- Information Search
- Alternative Evaluation
- Purchase Decision
- Post-Purchase Evaluation
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Term
| What is the single term that describes the 4 P's? |
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Definition
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Term
What is a CRM?
&
What are they responsible for? |
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Definition
Customer Relations Manager
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They focus on Customer Loyalty |
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Term
Who would have a Capital Account?
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Definition
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Term
| What are accumulated funds of a firm's profitable earnings? |
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Definition
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Term
| How do Corporations Treat the owner? |
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Definition
- Record owner's claims to funds
- Record owners retained earnings
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Term
| We had this term previously so what is a product line? |
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Definition
| A Product Line is a group of items that are physically alike, or intended for a similar market |
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Term
What is the definition of "Total Product Offer"?
&
What are the components? |
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Definition
It is Everything that consumers evaluate before ans when deciding to buy something
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[image]
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Term
What are value enhancers?
&
Why use them? |
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Definition
- Brand
- Pricing
- Advertisement
- packaging
&
To create a unique and attractive image |
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Term
| Who do Wholesalers sell to? |
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Definition
- Retailers
- Manufacturers
- Any B2B
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Term
What are Agents/ brokers?
&
Who do they sell to? |
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Definition
It is a combination of buyers and sellers together that assist in negotiations
&
Trick Question!!! they don't sell to any person but they assist in the event. |
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Term
| What is the idea behind the marketing concept? |
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Definition
| Customer's needs are addressed and met |
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Term
| What elements of the marketing concept are mutually beneficial to the buyer and seller? |
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Definition
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