6th Six Weeks Flashcards

1
Q

Distribution strategy: the process of transferring goods from one place to another.

A

Transportation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Distribution strategy: the process of keeping goods for future use.

A

Storage

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Distribution strategy: the process of unpacking repacking, packaging, and moving goods.

A

Product Handling

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Distribution strategy: the process of ensuring the appropriate stock of goods is kept.

A

Inventory Control

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

The process of supplying goods to stores and other businesses that sell to customers.

A

Distribution

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

The business of and materials used for wrapping and protecting goods.

A

Packaging

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

A deduction in the retail price of a good for a retailer from a wholesaler.

A

Trade Discounts

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Storing goods that will later be sold or distributed.

A

Warehousing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Delivering goods to their desired destination, such as a customer or a retail location.

A

Shipping

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What happens to defective or damaged goods at the cost of the manufacturer.

A

Sales Returns

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Market research step: define issue, create research objectives, research questions.

A

Identify the Problem

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Market research step: determine information needed, research methods, determine responsible parties.

A

Develop the Research Plan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Market research step: review secondary data, collect primary data, determine suitable methods and techniques.

A

Conduct Research

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Market research step: format data and analysis, interpret results, create reports and recommendations.

A

Analyze and Report Findings

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Market research step: thought and planning, evaluation of options, course adjustment and execution.

A

Take Action

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Market research result: understand the general direction businesses are developing.

A

Identify Industry Trends

17
Q

Market research result: understand the willingness and ability of customers to purchase a good or service.

A

Analyze Demand

18
Q

Market research result: predict the outcome of moving goods to customers.

A

Forecast Sales

19
Q

Market research result: the ability to take business action with clarity based on accumulated information.

A

Make Decisions

20
Q

Market data gained through the business’s own research.

A

Primary Data

21
Q

Market data gained through other companies’ research

A

Secondary Data

22
Q

Statistical data relating to the population and particular groups within it.

A

Demographics

23
Q

Division into separate parts or sections.

A

Segementation

24
Q

A particular group of consumers at which a product or service is aimed.

A

Target Market

25
The functional or emotional desires of a target market.
Market Need
26
A condition where different economic firms seek to obtain a share of a limited market.
Competition
27
The existence of high startup costs or other obstacles that prevent new competitors from easily entering an industry or area of business.
Barriers to Entry
28
An imposition of rules by government, backed by the use of penalties that are intended specifically to modify the economic behavior of individuals and firms in the private sector.
Regulation
29
The manufacturing or technically productive enterprises in a particular field, country, region, or economy viewed collectively, or one of these individually.
Industry
30
A person or organization that buys goods or services from a store or business.
Customer
31
A framework for identifying and analyzing the internal and external factors that can have an impact on the viability of a project, product, place or person.
SWOT Analysis
32
SWOT Analysis: what an organization excels at and separates it from the competition.
Strengths
33
SWOT Analysis: what stops an organization from performing at its optimum level.
Weaknesses
34
SWOT Analysis: favorable external factors that an organization can use to give it a competitive advantage.
Opportunities
35
SWOT Analysis: factors that have the potential to harm an organization.
Threats