| A | B |
|---|
| custom manuracturing | Building a specific and unique product to meet the needs of one customer |
| 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 or marketing products |
| board of directors | a group of people elected by shareholders to guide a corporation |
| sole proprietorship | A business owned by one person |
| 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 receives |
| franchise | A written contract granting permission to sell someone else's product or service in a prescribed manner, over a certain period of time, and in a specific area |
| franchisee | The person or group of peole who have received 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 perople 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 |
| expert influence | When group members recognize that the leader has special expertise in the area |
| human relations | The way people get along with each other |
| identity influence | Stems from personal trust and respect members have for the 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 taarget 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 |
| product | Anything offered to the target marked 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 ifrm 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 |
