| A | B |
|---|
| Custom Manufacturing | Building a specific and unique product to meet the needs of one consumer |
| Extractor | A business that grows products or takes raw materials from nature |
| Marketer | A business involved with moving goods from producers to consumers |
| Manufacturer | A business that takes an extractor's products or raw materials and changes them into a form that consumers can use |
| Mass Production | A large number of identical products are assembled using a continuous, efficient procedure |
| Processing | Changing the form of materials so they can be consumed or used to manufacture other products |
| Service Business | A business that does things for you instead of making marketing products |
| Board Of Directors | A group of people elected by shareholders to guide a corporation |
| Certificate of Incorporation | A document, generally issued by a state government, giving permission to start a corporation |
| Cooperative | A business that is owned by the members it serves and is managed in their interest |
| Corporation | A business made up of a number of owners but authorized by law to act as a single person |
| Dividend | the part of the profits of a corporation that each shareholder recieves |
| Franchise | A written contract granting permission to sell someone elses product or service in a prescribed manner, over a certain period of time, and in a specified area |
| Franchisee | the person or group of people who have received a permission from a parent company to sell its products or services |
| Franchisor | The parent company that grants permission to a person or group to sell its products or services |
| Municipal Corporation | An organization that provides services for citizens with revenue from their taxes and that does not have earning a profit as a goal |
| Partnership | An association of two or more people operating a business as co-owners and sharing profits or losses according to a written agreement |
| Shareholder | A person who owns stock in a corporation |
| Sole Proprietorship | A business owned by one person |
| Expert Influence | When group members recognize that the leader has special expertise in the area |
| Human Relations | The way people get along with eachother |
| Identity Influence | Stems from personal trust and respect members have for a leader |
| Leadership | The ability to influence individual and groups to accomplish important goals |
| Leadership Style | The way a manager treats and directs employees |
| Mixed Management | The combined use of strategic and tactical management |
| Position Influence | The ability to get others to accomplish tasks because of the position the leader holds |
| Reward Influence | Results from the leader's ability to give or withhold rewards |
| Strategic Management | A leadership style where managers are less directive and involve employees in decision making |
| Tactical Management | A leadership style where the manager is more directive and controlling |
| Buying Motives | The reasons for making a purchase |
| Channel of Distribution | The path that a product travels from producer to consumer |
| Direct Channel of Distribution | the process through which goods are bought by the consumer directly from the producer |
| Indirect Channel of Distribution | The process through which goods move through one or more middle firms between the producer and the consumer |
| Marketing Concept | Considering the needs of customers when planning, pricing, distributing, and promoting a product or service |
| Marketing Functions | Groups of marketing activities. |
| Marketing Mix | A combination of marketing elements designed to meet the needs of a target market |
| Marketing Strategy | A two step process for successfully planning and marketing products and services |
| Place | The locations where products are sold and the ways they are made available to customers |
| Price | What customers pay and the method of payment |
| Product | Anything offered to the target market to satisfy their needs |
| Promotion | The methods used to communicate information to customers in order to encourage purchases and to increase their satisfaction |
| Retailer | A business firm that sells directly to the consumer |
| Target Market | A clearly identified group of consumers with needs that the business wants to satisfy |
| Wholesaler | A middle firm that assists with distribution activities between businesses |
