| A | B |
|---|
| transit | _________________________ advertising is found inside trains, in subway stations, and at airports. |
| market research | _________________________ consists of gathering and studying information about consumers using surveys, sales figures, and the census. |
| demographics | Marketers use ____________________ to identify the population in terms of age, gender, income, and education. |
| place | One of the elements of the marketing mix is ____________________, or what kind of store to sell a product in and where to put it in the store. |
| retailer | A(n) ____________________ sells goods and services directly to the public in stores. |
| radio | Prime time for ____________________ ads is when people are driving to or from work. |
| directory | The phone book is the most common type of ____________________ advertising. |
| direct | ____________________ distribution consists of selling goods to the public without using intermediaries. |
| communications | ____________________ software makes it possible to send and receive fax memos. |
| liquidity | ____________________ is the ability to quickly turn an investment into cash. |
| financial plan | A(n) ____________________ is a way of keeping records of income and expenses. |
| financial forecast | An estimate of the future business climate is called a(n) ____________________. |
| start-up budget | The plan you create for your income and expenses from the time you start the business to when it makes a profit is called a(n) ____________________. |
| accounting | A system used for recording, classifying, summarizing, and interpreting financial data is called ____________________. |
| owner’s equity | ____________________ is equal to the total assets of the business minus the total liabilities. |
| liability | Any amount your business owes is a(n) ____________________, or a claim against your assets. |
| net income | If your business’s total revenue, or earnings, is greater than its total expenses, you have a(n) ____________________. |
| profit | ____________________ is the money left over after a business has paid all costs of producing its goods or services. |
| savings | ____________________ is money put aside for future use. |
| opportunity cost | Putting off buying something now to get something later is called the ____________________ of savings. |
| marketing | The process of creating, promoting, and presenting a product to meet the wants and needs of consumers is called ____________________. |
| break-even point | The amount of money a company has to make on a product to pay for its costs is called the ____________________. |
| product development | Generating ideas, test marketing a product, and evaluating customers’ responses are different steps in _________________________. |
| income statement | A report of net income or net loss over an accounting period. _________________________. |
| net loss | When a business’s expenses are greater than the revenue it is called a _________________________. |
| cash reserves | Savings kept on hand to pay operating expenses is called _________________________. |
| fiscal year | An accounting period is also called a/an _________________________. |
| financial manager | A person in charge of a business’s financial planning is called _________________________. |
| balance sheet | A report of assets, liabilities, and owner’s equity at any given time is called _________________________. |
| asset | An item of value your business owns is called a/an _________________________. |
| operating budget | _______________________tells you how much money you need to run your business over a long time |
| target market | ______________________ is a group that a product is marketed to, such as teenagers. |
| escape | ______________________Getting away from it all is very appealing; you can imagine adventures you cannot have; the idea of escape is pleasurable. |
| independence/individuality | _______________________Associates product with people who can think and act for themselves. Products are linked to individual decision-making. |
| lifestyle | ______________________Associates product with a particular style of living/way of doing things. |
| beauty appeal | ______________________Beauty attracts us; we are drawn to beautiful people, places, and things. |
| patriotism | ______________________the suggestion that purchasing this product shows your love of your country e.g. a company brags about its product being made in Canada and employing Canadian workers |
| unfinished comparison/claim | ______________________Use of phrases such as “Works better in poor driving conditions!” Works better than what? |
| humor | ______________________customers are attracted to products that divert the audience by giving viewers a reason to laugh or to be entertained by clever use of visuals or language |
| compliment the consumer | ______________________Advertisers flatter the consumer who is willing to purchase their product. By purchasing the product the consumer is recognized by the advertisers for making a good decision with their selection. |
| hidden fears | ______________________the suggestion that this product will protect the user from some danger e.g. a laundry detergent manufacturer suggests that you will be embarrassed when strangers see "ring around the collar" of your shirts or blouses |
| snob appeal | ______________________the suggestion that the use of the product makes the customer part of an elite group with a luxurious and glamorous life style e.g. a coffee manufacturer shows people dressed in formal gowns and tuxedos drinking their brand at an art gallery |
| peer approval | ______________________Associates product use with friendship/acceptance. Advertisers can also use this negatively, to make you worry that you’ll lose friends if you don’t use a certain product. |
| rebel | ______________________Associates products with behaviors or lifestyles that oppose society’s norms. |
| bandwagon | ______________________the suggestion that everybody is using the product and that you should too in order to be part of the group e.g. a credit card company quotes the number of millions of people who use their card |
| inteligence | ______________________Associates product with smart people who can’t be fooled. |
| plain folks | ______________________the suggestion that the product is a practical product of good value for ordinary people e.g. a cereal manufacturer shows an ordinary family sitting down to breakfast and enjoying their product |
| rhetorical question | ______________________This technique poses a question to the consumer that demands a response. A question is asked and the consumer is supposed to answer in such a way that affirms the product’s goodness. |
| celebrity endorsement | ______________________Associates product use with a well-known person. By purchasing this product we are led to believe that we will attain characteristics similar to the celebrity. |
| scientific/statistical claim | ______________________Provides some sort of scientific proof or experiment, very specific numbers, or an impressive sounding mystery ingredient |
| Nuture | ______________________Every time you see an animal or a child, the appeal is to your paternal or maternal instincts. Associates products with taking care of someone. |
