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Chapter 3 Definitions

Management, Communication and Marketing

AB
COST BENEFITA term used to describe the relationship between the cost of taking some action as opposed to the benefit derived from taking that action
LEGISLATIONA law or body of laws , which are created by parliament
GENERIC MARKETThe ‘general’ market for a product. Generic markets can be broken up into smaller submarkets or niche markets
RIBBON DEVELOPMENTThe development of villages and towns along geographical features such as rivers or roads.
TARGET MARKETThe specific group of consumers within the general population that a good or a service is marketed at.
VERBALAny communication given in spoken form
CFCChloroflourocarbon. A chemical gas used in the production of packaging material which is harmful to the environment
ECONOMIES OF LARGE SCALE PRODUCTIONThe advantages accruing to an organisation as it expands and becomes larger


Teacher: Mr Ryan

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