366 terms in Topic1
Entrepreneurs and Leaders
Recognizing potential future threats/opportunities and preparing responses.
Marketing and People
Entrepreneurs and Leaders
Obstacles preventing business creation: lack of capital, insufficient skills, risk aversion, family obligations, market
Marketing and People
Entrepreneurs and Leaders
Individual investor providing capital to startups in exchange for equity.
Marketing and People
Entrepreneurs and Leaders
Process of starting new business from concept to launch.
Marketing and People
Entrepreneurs and Leaders
Goals/targets business aims to achieve.
Marketing and People
Entrepreneurs and Leaders
Formal document detailing: business concept, market analysis, financial projections, operations plan, management structu
Marketing and People
Entrepreneurs and Leaders
Funds invested in business; financial resources.
Marketing and People
Entrepreneurs and Leaders
Personal qualities of successful entrepreneurs: vision, risk tolerance, determination, creativity, resilience, adaptabil
Marketing and People
Entrepreneurs and Leaders
Intense market competition making startup success difficult.
Marketing and People
Entrepreneurs and Leaders
Backup plan if primary plan fails.
Marketing and People
Entrepreneurs and Leaders
Business objective minimizing costs while maintaining quality.
Marketing and People
Entrepreneurs and Leaders
Generating novel ideas/solutions to problems.
Marketing and People
Entrepreneurs and Leaders
Business objective ensuring customers receive value and are content.
Marketing and People
Entrepreneurs and Leaders
Business moving into different products/markets beyond current focus.
Marketing and People
Entrepreneurs and Leaders
As a business produces more, the cost per unit falls — being bigger gives you cost advantages.
Marketing and People
Entrepreneurs and Leaders
Individual creating/running business, assuming financial risk for potential reward.
Marketing and People
Entrepreneurs and Leaders
See Characteristics (Entrepreneurial) above.
Marketing and People
Entrepreneurs and Leaders
Abilities supporting business success: business planning, financial management, marketing, leadership, problem-solving,
Marketing and People
Entrepreneurs and Leaders
Process of creating/running business ventures.
Marketing and People
Entrepreneurs and Leaders
Business ceasing operations; unable to continue.
Marketing and People
Entrepreneurs and Leaders
Money-based rewards motivating performance: salary increases, bonus, commission, profit share, pay rises.
Marketing and People
Entrepreneurs and Leaders
Drive to earn money/profit.
Marketing and People
Entrepreneurs and Leaders
Business model where franchisee operates business using franchisor's brand/systems for fee/royalty.
Marketing and People
Entrepreneurs and Leaders
Strategic goal to increase business size/revenue.
Marketing and People
Entrepreneurs and Leaders
Running business from home.
Marketing and People
Entrepreneurs and Leaders
Process of creating new business concepts.
Marketing and People
Entrepreneurs and Leaders
Desire to work for oneself, control own decisions, be own boss.
Marketing and People
Entrepreneurs and Leaders
Creating new products, services, processes, business models.
Marketing and People
Entrepreneurs and Leaders
Innovation/entrepreneurial activity within existing organization.
Marketing and People
Entrepreneurs and Leaders
Partnership between companies/individuals for specific project/business.
Marketing and People
Entrepreneurs and Leaders
(funding).
Marketing and People
Entrepreneurs and Leaders
(Economic).
Marketing and People
Entrepreneurs and Leaders
Business primarily providing income for owner rather than seeking growth/profit maximization.
Marketing and People
Entrepreneurs and Leaders
Legal structure protecting personal assets from business debts.
Marketing and People
Entrepreneurs and Leaders
Gap/need in market addressable by new business.
Marketing and People
Entrepreneurs and Leaders
Market where existing supply meets/exceeds demand; limited growth opportunity.
Marketing and People
Entrepreneurs and Leaders
Experienced entrepreneur/professional guiding startup founder.
Marketing and People
Entrepreneurs and Leaders
Concise statement of organization's purpose/values/long-term direction.
Marketing and People
Entrepreneurs and Leaders
Reasons individuals start businesses.
Marketing and People
Entrepreneurs and Leaders
Startup; newly created business venture.
Marketing and People
Entrepreneurs and Leaders
Non-monetary reasons for entrepreneurship: independence, ethical values, social impact, achievement, flexibility, family
Marketing and People
Entrepreneurs and Leaders
Benefit foregone by choosing one option over another.
Marketing and People
Entrepreneurs and Leaders
Tendency to expect positive outcomes; characteristic of entrepreneurs.
Marketing and People
Entrepreneurs and Leaders
Business structure of 2+ individuals owning jointly.
Marketing and People
Entrepreneurs and Leaders
Individual's accumulated money used for business capital.
Marketing and People
Entrepreneurs and Leaders
Company publicly traded on stock exchange.
Marketing and People
Entrepreneurs and Leaders
Identifying/addressing business challenges creatively.
Marketing and People
Entrepreneurs and Leaders
Business objective making highest possible profit.
Marketing and People
Entrepreneurs and Leaders
Business objective earning sufficient profit while pursuing other goals.
Marketing and People
Entrepreneurs and Leaders
(see PLC).
Marketing and People
Entrepreneurs and Leaders
Laws/rules governing business operations: company law, employment law, environmental, health/safety, consumer protection
Marketing and People
Entrepreneurs and Leaders
Ability to recover from setbacks; persistence despite difficulties.
Marketing and People
Entrepreneurs and Leaders
Diversifying investments/activities reducing total risk.
Marketing and People
Entrepreneurs and Leaders
Willingness to accept probability of loss for potential gain.
Marketing and People
Entrepreneurs and Leaders
Business objective increasing sales volume/revenue (rather than profit).
Marketing and People
Entrepreneurs and Leaders
Working for oneself rather than employer.
Marketing and People
Entrepreneurs and Leaders
Creating business to address social/environmental problems; profit secondary to impact.
Marketing and People
Entrepreneurs and Leaders
Business goal benefiting society/environment beyond profit.
Marketing and People
Entrepreneurs and Leaders
Individual owning/operating business alone.
Marketing and People
Entrepreneurs and Leaders
Support/backing from established business/individual for new venture.
Marketing and People
Entrepreneurs and Leaders
Exchange where company shares are traded.
Marketing and People
Entrepreneurs and Leaders
Process of company offering shares publicly on stock exchange; becoming PLC.
Marketing and People
Entrepreneurs and Leaders
Achievement of business objectives; sustainable profitable operation.
Marketing and People
Entrepreneurs and Leaders
Assistance for entrepreneurs: funding, mentoring, advice, networks, training, incubators.
Marketing and People
Entrepreneurs and Leaders
Accepting less of one thing to gain more of another.
Marketing and People
Entrepreneurs and Leaders
Business conditions where outcomes unpredictable; probabilities unknown.
Marketing and People
Entrepreneurs and Leaders
Legal responsibility for all business debts with no limit.
Marketing and People
Entrepreneurs and Leaders
Investment in early-stage businesses with growth potential.
Marketing and People
Entrepreneurs and Leaders
Clear picture of future desired state; long-term direction.
Marketing and People
Entrepreneurs and Leaders
Amount customers owe for goods/services already delivered.
Marketing and People
Entrepreneurs and Leaders
(see Business Angel in 1.5).
Marketing and People
Entrepreneurs and Leaders
Borrowing to purchase specific assets (equipment, vehicles, property).
Marketing and People
Entrepreneurs and Leaders
Money borrowed from bank to be repaid with interest over agreed period.
Marketing and People
Entrepreneurs and Leaders
Starting/growing business with minimal external funding; relying on: personal savings, revenue reinvestment, free resour
Marketing and People
Entrepreneurs and Leaders
Assets used long-term in business operations: machinery, vehicles, buildings, computers.
Marketing and People
Entrepreneurs and Leaders
Raising capital through small contributions from many people, typically via online platforms.
Marketing and People
Entrepreneurs and Leaders
Raising capital through borrowing; must repay with interest.
Marketing and People
Entrepreneurs and Leaders
Reduction in asset value over time due to use, wear, age, obsolescence.
Marketing and People
Entrepreneurs and Leaders
Percentage applied to future cash flows to calculate present value.
Marketing and People
Entrepreneurs and Leaders
Distribution of profits to shareholders.
Marketing and People
Entrepreneurs and Leaders
Raising capital through selling ownership shares.
Marketing and People
Entrepreneurs and Leaders
Capital raised from outside sources: banks (loans), investors (equity), governments (grants), organizations (crowd fundi
Marketing and People
Entrepreneurs and Leaders
Capital from family members for business.
Marketing and People
Entrepreneurs and Leaders
Long-term business assets lasting >1 year: property, equipment, vehicles, technology.
Marketing and People
Entrepreneurs and Leaders
(Stock Market - see 1.5).
Marketing and People
Entrepreneurs and Leaders
Capital from friends for business.
Marketing and People
Entrepreneurs and Leaders
Providing financial resources for business.
Marketing and People
Entrepreneurs and Leaders
UK government bonds; low-risk investment paying interest.
Marketing and People
Entrepreneurs and Leaders
Non-repayable funding from government for specified purposes: research, training, regional development, environmental in
Marketing and People
Entrepreneurs and Leaders
Arrangement to use asset while paying for it in installments.
Marketing and People
Entrepreneurs and Leaders
Funding outside formal banking system: family, friends, saving groups, private investors.
Marketing and People
Entrepreneurs and Leaders
Cost of borrowing; paid by borrower to lender.
Marketing and People
Entrepreneurs and Leaders
Capital raised from within organization: owner's capital, retained profits, asset sales.
Marketing and People
Entrepreneurs and Leaders
Purchasing assets expecting future returns: financial (stocks, bonds), physical (equipment, property), business (equity
Marketing and People
Entrepreneurs and Leaders
Selling unpaid invoices to factor at discount to get immediate cash.
Marketing and People
Entrepreneurs and Leaders
(Economic - already covered).
Marketing and People
Entrepreneurs and Leaders
Arrangement to use asset for set period paying regular fees.
Marketing and People
Entrepreneurs and Leaders
Legal structure where business is separate legal entity from owners.
Marketing and People
Entrepreneurs and Leaders
Conditions/restrictions imposed by lender in loan agreement.
Marketing and People
Entrepreneurs and Leaders
Borrowing arrangement; money provided to be repaid with interest.
Marketing and People
Entrepreneurs and Leaders
Typical interest rates, fees, terms offered in financial market for different types of borrowing.
Marketing and People
Entrepreneurs and Leaders
Financial institutions providing: corporate finance, investment services, advisory to businesses.
Marketing and People
Entrepreneurs and Leaders
Small loans to individuals/micro-businesses often in developing countries.
Marketing and People
Entrepreneurs and Leaders
Long-term loans for property purchase.
Marketing and People
Entrepreneurs and Leaders
Money actually entering minus leaving business.
Marketing and People
Entrepreneurs and Leaders
Long-term business assets held >12 months.
Marketing and People
Entrepreneurs and Leaders
Public method of selling company shares on stock exchange.
Marketing and People
Entrepreneurs and Leaders
Arrangement allowing account to go negative to agreed limit.
Marketing and People
Entrepreneurs and Leaders
Money invested by owner/shareholders in business.
Marketing and People
Entrepreneurs and Leaders
(Peer-to-Peer).
Marketing and People
Entrepreneurs and Leaders
Funding structure for partnerships; capital from partners, loans against personal assets.
Marketing and People
Entrepreneurs and Leaders
(see P2P Lending).
Marketing and People
Entrepreneurs and Leaders
Class of shares with priority over ordinary shares for dividends/asset distribution.
Marketing and People
Entrepreneurs and Leaders
Investment in private (non-public) companies by PE firms.
Marketing and People
Entrepreneurs and Leaders
Sale of shares/securities to limited number of investors privately rather than public offering.
Marketing and People
Entrepreneurs and Leaders
Plowing back company profits into business rather than distributing to shareholders.
Marketing and People
Entrepreneurs and Leaders
Real estate asset; valuable collateral for loans.
Marketing and People
Entrepreneurs and Leaders
Formal document issued by company offering securities.
Marketing and People
Entrepreneurs and Leaders
Money owed to company by customers for goods/services delivered.
Marketing and People
Entrepreneurs and Leaders
Profits kept in business rather than distributed to shareholders.
Marketing and People
Entrepreneurs and Leaders
Profit made on investment relative to cost.
Marketing and People
Entrepreneurs and Leaders
Selling business assets for cash.
Marketing and People
Entrepreneurs and Leaders
Loan backed by collateral (asset) lender can claim if unpaid.
Marketing and People
Entrepreneurs and Leaders
Financial instruments representing value: stocks, bonds, derivatives.
Marketing and People
Entrepreneurs and Leaders
Initial capital to develop business idea to viable stage.
Marketing and People
Entrepreneurs and Leaders
Equity finance from investors purchasing company shares.
Marketing and People
Entrepreneurs and Leaders
Individual/organization owning shares in company.
Marketing and People
Entrepreneurs and Leaders
Units of ownership in company.
Marketing and People
Entrepreneurs and Leaders
Borrowing for immediate needs, repaid <1 year.
Marketing and People
Entrepreneurs and Leaders
Loan with favorable terms: low/no interest, long repayment period, flexible conditions.
Marketing and People
Entrepreneurs and Leaders
Market where company shares are traded.
Marketing and People
Entrepreneurs and Leaders
Loan repaid only after senior debt in bankruptcy.
Marketing and People
Entrepreneurs and Leaders
Excess money beyond operational needs.
Marketing and People
Entrepreneurs and Leaders
Large loan arranged by group of lenders reducing individual risk.
Marketing and People
Entrepreneurs and Leaders
Fixed-term loan repaid in regular installments over set period.
Marketing and People
Entrepreneurs and Leaders
Arrangement to purchase goods/services on credit; payment due later (typically 30-90 days).
Marketing and People
Entrepreneurs and Leaders
Loan without collateral backing.
Marketing and People
Entrepreneurs and Leaders
Determining business/asset worth.
Marketing and People
Entrepreneurs and Leaders
Security giving right (not obligation) to buy company shares at set price within period.
Marketing and People
Entrepreneurs and Leaders
The process of creating and launching a new business venture from the initial idea through to becoming operational.
Marketing and People
Entrepreneurs and Leaders
The moral position or set of values that guides a business's decision-making, particularly regarding issues such as the
Marketing and People
Entrepreneurs and Leaders
A business objective focused on the physical, mental, and financial wellbeing of employees beyond minimum legal requirem
Marketing and People
Entrepreneurs and Leaders
A business structure where the company is a separate legal entity from its owners, shareholders have limited liability,
Marketing and People
Entrepreneurs and Leaders
A business that primarily operates via the internet, selling products or services online rather than through physical pr
Marketing and People
Entrepreneurs and Leaders
A short-term business objective focused on generating enough revenue to cover costs and continue operating, particularly
Marketing and People
Entrepreneurs and Leaders
A situation where the percentage change in quantity demanded is greater than the percentage change in price (PED > 1 in
Marketing and People
Entrepreneurs and Leaders
A situation where the percentage change in quantity demanded is less than the percentage change in price (PED < 1 in abs
Marketing and People
Managing People
Leadership style combining authority with caring/benevolence toward employees.
Marketing and People
Managing People
Employee working fewer hours than standard full-time (typically <35 hours/week).
Marketing and People
Managing People
Remuneration employees receive: salary (fixed annual), wages (hourly), bonus, commission, benefits.
Marketing and People
Managing People
List of employees and their salaries/wages.
Marketing and People
Managing People
Compensation varying based on individual/team performance measures.
Marketing and People
Managing People
Payment system paying per unit produced/completed work.
Marketing and People
Managing People
Arrangement where employees receive portion of company profits.
Marketing and People
Managing People
Formal credentials demonstrating knowledge/skills: degrees, diplomas, certifications, licenses.
Marketing and People
Managing People
Process of finding and hiring new employees.
Marketing and People
Managing People
Expenses associated with hiring: advertising, agency fees, interview time, training.
Marketing and People
Managing People
Combined process of attracting and choosing best candidates.
Marketing and People
Managing People
Termination of employment because job no longer needed (not employee fault).
Marketing and People
Managing People
Keeping valuable employees in organization.
Marketing and People
Managing People
Recognition for performance/contribution: pay, bonus, promotion, praise, development.
Marketing and People
Managing People
Protection of employees from harm: health/safety regulations, training, equipment, hazard elimination.
Marketing and People
Managing People
Fixed annual payment to employee divided into regular (usually monthly) payments.
Marketing and People
Managing People
Process of choosing best candidate(s) from applicants.
Marketing and People
Managing People
Employment arrangement working different time periods (early, late, night shifts).
Marketing and People
Managing People
Ability to perform specific tasks/activities effectively learned through training/experience.
Marketing and People
Managing People
Employee with advanced technical abilities requiring significant training/experience.
Marketing and People
Managing People
Business with primarily social/environmental objectives rather than profit maximization.
Marketing and People
Managing People
Company obligations to employees beyond legal minimum: fair wages, safe conditions, development, consultation.
Marketing and People
Managing People
Transferable interpersonal/communication abilities: teamwork, communication, problem-solving, leadership, adaptability.
Marketing and People
Managing People
Number of subordinates reporting directly to one manager.
Marketing and People
Managing People
Viewing employees as valuable resources generating return on investment.
Marketing and People
Managing People
Treating employees as expenses to minimize.
Marketing and People
Managing People
Piecework system with single rate per unit (no variation).
Marketing and People
Managing People
Management position overseeing daily operations/team.
Marketing and People
Managing People
Organization with many hierarchy levels; narrow span of control.
Marketing and People
Managing People
Strategic process identifying, developing, retaining high-potential employees.
Marketing and People
Managing People
Activities/approaches improving team cohesion, communication, trust.
Marketing and People
Managing People
Employees working together toward shared goals.
Marketing and People
Managing People
Employee hired for fixed period (project duration, seasonal, covering absence).
Marketing and People
Managing People
Ending of employment relationship.
Marketing and People
Managing People
Organization representing employee interests in negotiations with employers.
Marketing and People
Managing People
Systematic development of employee knowledge and skills.
Marketing and People
Managing People
Expense of developing employee skills: trainer fees, course fees, time away from work, materials.
Marketing and People
Managing People
Termination of employment without fair/legal process.
Marketing and People
Managing People
Employee without specialized training; performs basic tasks.
Marketing and People
Managing People
Hourly payment to employee (or daily/piecework).
Marketing and People
Managing People
Representative group of employees discussing workplace matters with management.
Marketing and People
Managing People
Physical/environmental factors affecting employees: hours, safety, environment, tools/equipment.
Marketing and People
Managing People
Employment agreement with no guaranteed hours; employee available as needed.
Marketing and People
Managing People
Training that takes place while the employee is performing their normal work duties, typically under the guidance of a m
Marketing and People
Managing People
Training that takes place away from the normal work environment, in a dedicated training centre, college, or external ve
Marketing and People
Managing People
Frederick Taylor's theory that worker productivity can be maximised by scientifically analysing tasks, selecting the bes
Marketing and People
Managing People
Elton Mayo's theory that social factors and group dynamics are the primary drivers of worker motivation, rather than pay
Marketing and People
Managing People
Abraham Maslow's motivational theory proposing that human needs exist in a hierarchy of five levels: physiological, safe
Marketing and People
Managing People
Management refers to the process of planning, organising, and controlling resources to achieve objectives. Leadership re
Marketing and People
Managing People
Achieving maximum output from a given level of inputs; producing goods or services at minimum cost without sacrificing q
Marketing and People
Market (Demand & Supply)
Paid promotional communication affecting consumer demand by raising awareness, creating desire, or persuading purchase.
Marketing and People
Market (Demand & Supply)
Products that are purchased and used together.
Marketing and People
Market (Demand & Supply)
Money available to consumers to spend on products/services.
Marketing and People
Market (Demand & Supply)
Quantity of a product consumers are willing and able to buy at different prices in a given time period.
Marketing and People
Market (Demand & Supply)
Graphical representation showing relationship between price and quantity demanded.
Marketing and People
Market (Demand & Supply)
Population characteristics (age, gender, income, education, family size) affecting demand.
Marketing and People
Market (Demand & Supply)
Unexpected, sudden events affecting supply or demand.
Marketing and People
Market (Demand & Supply)
Consumer preferences and desires for certain products changing over time.
Marketing and People
Market (Demand & Supply)
Measure of how demand changes when consumer income changes.
Marketing and People
Market (Demand & Supply)
Taxes on products paid by producers (e.g., excise duty, VAT).
Marketing and People
Market (Demand & Supply)
Interaction of supply and demand determining prices and quantities of goods/services traded.
Marketing and People
Market (Demand & Supply)
Point where quantity supplied equals quantity demanded at a particular price.
Marketing and People
Market (Demand & Supply)
Technological advances increasing productivity and efficiency.
Marketing and People
Market (Demand & Supply)
Monetary value of a product/service.
Marketing and People
Market (Demand & Supply)
Effects of price movements on supply, demand, and market equilibrium.
Marketing and People
Market (Demand & Supply)
Measure of how sensitive quantity demanded is to price changes.
Marketing and People
Market (Demand & Supply)
Understanding what PED values mean for business: If PED = -0.5 (inelastic), 10% price rise → only 5% demand fall (revenu
Marketing and People
Market (Demand & Supply)
Fluctuation in demand for products at specific times of year.
Marketing and People
Market (Demand & Supply)
Situation where quantity demanded exceeds quantity supplied at a given price.
Marketing and People
Market (Demand & Supply)
Social media influence on consumer preferences and demand.
Marketing and People
Market (Demand & Supply)
Government financial support to producers reducing production costs.
Marketing and People
Market (Demand & Supply)
Quantity of a product producers are willing and able to provide at different prices in a given time period.
Marketing and People
Market (Demand & Supply)
Graph showing supply curve (upward-sloping) and demand curve (downward-sloping) intersecting at equilibrium point.
Marketing and People
Market (Demand & Supply)
Graphical representation showing relationship between price and quantity supplied.
Marketing and People
Market (Demand & Supply)
Products that can replace each other in satisfying customer needs.
Marketing and People
Market (Demand & Supply)
Paid communication promoting products/brands to target audiences through media.
Marketing and People
Market (Demand & Supply)
Visual appeal and appearance of a product.
Marketing and People
Market (Demand & Supply)
A tool for managing your product portfolio — which products to invest in, maintain, or drop.
Marketing and People
Market (Demand & Supply)
Plan for creating, building, and managing a brand identity.
Marketing and People
Market (Demand & Supply)
Setting prices at similar levels to competitors.
Marketing and People
Market (Demand & Supply)
Production cost considerations in design.
Marketing and People
Market (Demand & Supply)
Pricing strategy adding fixed markup percentage to unit production costs.
Marketing and People
Market (Demand & Supply)
Three key elements of product design: **Function** (what it does), **Aesthetics** (how it looks), **Cost** (price to pro
Marketing and People
Market (Demand & Supply)
Making products distinctly different from competitors through unique features, quality, design, service, or brand.
Marketing and People
Market (Demand & Supply)
Path product takes from producer to consumer.
Marketing and People
Market (Demand & Supply)
Creating brands that connect with customers' emotions and values rather than just product features.
Marketing and People
Market (Demand & Supply)
Ensuring products are produced ethically: fair wages, safe conditions, environmental protection, no exploitation.
Marketing and People
Market (Demand & Supply)
Methods to extend product life cycle in maturity/decline stages. **Product extension:** modify product (new features, fl
Marketing and People
Market (Demand & Supply)
Changing consumer preferences for styles, designs, and products.
Marketing and People
Market (Demand & Supply)
What a product does; its purpose and how well it performs its intended task.
Marketing and People
Market (Demand & Supply)
Global marketing strategy adapted to local markets.
Marketing and People
Market (Demand & Supply)
Sorting products by quality, size, or standards.
Marketing and People
Market (Demand & Supply)
Marketing strategy targeting small, specific segments with specialized needs.
Marketing and People
Market (Demand & Supply)
Selling and delivering products via internet/e-commerce.
Marketing and People
Market (Demand & Supply)
Websites (Confused.com, MoneySuperMarket) comparing prices of competitors.
Marketing and People
Market (Demand & Supply)
Method for setting prices to achieve business objectives.
Marketing and People
Market (Demand & Supply)
Process of developing product features, appearance, and function to meet customer needs and competitive requirements.
Marketing and People
Market (Demand & Supply)
Stages product goes through: **Introduction** (new, few competitors, high price, low sales), **Growth** (increasing sale
Marketing and People
Market (Demand & Supply)
Strategies to extend product life beyond maturity stage.
Marketing and People
Market (Demand & Supply)
Business approach prioritizing what company can produce.
Marketing and People
Market (Demand & Supply)
Range of all products/brands a company offers.
Marketing and People
Market (Demand & Supply)
Communication activities persuading customers to buy.
Marketing and People
Market (Demand & Supply)
Setting prices using psychological principles to influence perception.
Marketing and People
Market (Demand & Supply)
Using social platforms (Facebook, Instagram, Twitter, TikTok) for promotion, customer engagement, brand building.
Marketing and People
Market (Demand & Supply)
Business pays to be associated with events, teams, individuals, or causes.
Marketing and People
Market (Demand & Supply)
Designing and producing products minimizing environmental impact: reduced materials, recyclable packaging, ethical sourc
Marketing and People
Market (Demand & Supply)
Marketing content designed to spread rapidly through social sharing, creating massive reach with minimal cost.
Marketing and People
Market (Demand & Supply)
Designing products and processes to reduce waste: less packaging, recyclable materials, efficient production, design for
Marketing and People
Market (Demand & Supply)
Rate of employees being absent from work (illness, personal issues, disengagement).
Marketing and People
Market (Demand & Supply)
Strategies to reduce employee absences: monitoring absence patterns, addressing underlying causes, disciplinary procedur
Marketing and People
Market (Demand & Supply)
Leadership style where leader makes decisions with little/no employee input.
Marketing and People
Market (Demand & Supply)
Lump sum additional payment to employees based on performance, company profits, or achievements.
Marketing and People
Market (Demand & Supply)
Structure where decision-making is concentrated at senior management level.
Marketing and People
Market (Demand & Supply)
Line of authority showing who reports to whom in an organization.
Marketing and People
Market (Demand & Supply)
Negotiation between employer and employee representatives (unions) regarding wages, conditions, benefits.
Marketing and People
Market (Demand & Supply)
Payment to employees based on sales achieved (percentage of sales value).
Marketing and People
Market (Demand & Supply)
Management seeking employee input on decisions affecting them.
Marketing and People
Market (Demand & Supply)
Structure where decision-making is distributed to lower management/staff levels.
Marketing and People
Market (Demand & Supply)
Assigning tasks/responsibility to employees with appropriate authority.
Marketing and People
Market (Demand & Supply)
Leadership style seeking employee input in decisions.
Marketing and People
Market (Demand & Supply)
Termination of employment due to employee misconduct or poor performance.
Marketing and People
Market (Demand & Supply)
Reducing workforce size to cut costs or restructure.
Marketing and People
Market (Demand & Supply)
Productivity of employees measured by: output per hour worked, cost per unit produced, turnaround time.
Marketing and People
Market (Demand & Supply)
Giving employees authority and responsibility to make decisions affecting their work.
Marketing and People
Market (Demand & Supply)
Legal agreement between employer and employee outlining: job role, salary, hours, rights, responsibilities, conditions.
Marketing and People
Market (Demand & Supply)
Interaction and agreement between employer and employee.
Marketing and People
Market (Demand & Supply)
Hiring new employees from outside the organization through: job advertisements, recruitment agencies, universities, netw
Marketing and People
Market (Demand & Supply)
Organization with few hierarchy levels; many employees report to one manager.
Marketing and People
Market (Demand & Supply)
Employment arrangement allowing employees to vary working hours around core times.
Marketing and People
Market (Demand & Supply)
Employment practices using varied staffing arrangements.
Marketing and People
Market (Demand & Supply)
Small group (8-12) of target customers/employees discussing topics under moderation.
Marketing and People
Market (Demand & Supply)
Marketing and People
Market (Demand & Supply)
Various arrangements allowing employees flexibility: part-time, flexible hours, job-sharing, homeworking, compressed wee
Marketing and People
Market (Demand & Supply)
Structured, planned training programs: induction, on-the-job, off-the-job, apprenticeships, courses.
Marketing and People
Market (Demand & Supply)
Main purpose and responsibilities of a job role.
Marketing and People
Market (Demand & Supply)
Marketing and People
Market (Demand & Supply)
Formal process for employees to raise complaints about treatment, conditions, or management.
Marketing and People
Market (Demand & Supply)
Arrangement of positions/people by authority level.
Marketing and People
Market (Demand & Supply)
Employment arrangement where employees work from home (full-time or part-time).
Marketing and People
Market (Demand & Supply)
Department managing: recruitment, training, compensation, performance, employee relations, legal compliance.
Marketing and People
Market (Demand & Supply)
Use of technology in HR: HR systems (payroll, records), recruitment tools, training platforms, performance monitoring, e
Marketing and People
Market (Demand & Supply)
Initial training for new employees.
Marketing and People
Market (Demand & Supply)
Power/influence held due to: expertise, respect, personality rather than official position.
Marketing and People
Market (Demand & Supply)
Learning through: mentoring, shadowing, observation, experience, peer learning.
Marketing and People
Market (Demand & Supply)
Marketing and People
Market (Demand & Supply)
Examination of products to ensure they meet standards before delivery to customers.
Marketing and People
Market (Demand & Supply)
Quality of being honest, principled, consistent in values and actions.
Marketing and People
Market (Demand & Supply)
Marketing and People
Market (Demand & Supply)
Cost of borrowing money; paid to lenders.
Marketing and People
Market (Demand & Supply)
Hiring new employees from existing workforce through: internal advertisement, promotion, transfer.
Marketing and People
Market (Demand & Supply)
Face-to-face or video conversation between interviewer and job candidate assessing: qualifications, skills, personality,
Marketing and People
Market (Demand & Supply)
Subjective judgment in interviews affecting fairness.
Marketing and People
Market (Demand & Supply)
Expanding job scope horizontally; adding more tasks at same level.
Marketing and People
Market (Demand & Supply)
Enhancing job vertically; adding responsibility, autonomy, challenge.
Marketing and People
Market (Demand & Supply)
Systematically moving employees between different roles/departments.
Marketing and People
Market (Demand & Supply)
Two part-time employees splitting one full-time position.
Marketing and People
Market (Demand & Supply)
Leadership style giving employees maximum freedom and minimal direction.
Marketing and People
Market (Demand & Supply)
Workforce; people employed to do work.
Marketing and People
Market (Demand & Supply)
Expenses related to employees: wages, salaries, benefits, training, recruitment, compliance.
Marketing and People
Market (Demand & Supply)
Business/process requiring large workforce relative to capital/technology.
Marketing and People
Market (Demand & Supply)
Output produced per unit of labor (typically per employee per hour).
Marketing and People
Market (Demand & Supply)
Rate of employees leaving organization.
Marketing and People
Market (Demand & Supply)
Marketing and People
Market (Demand & Supply)
Renting equipment/property rather than buying.
Marketing and People
Market (Demand & Supply)
Directing and inspiring people toward goals.
Marketing and People
Market (Demand & Supply)
Approach to directing and influencing people.
Marketing and People
Market (Demand & Supply)
Acquisition of knowledge and skills through: training, experience, observation, practice.
Marketing and People
Market (Demand & Supply)
Laws regulating employment: employment contracts, minimum wage, working hours, health/safety, discrimination, data prote
Marketing and People
Market (Demand & Supply)
Management structure where authority flows down line from senior to junior levels.
Marketing and People
Market (Demand & Supply)
Running/controlling business operations achieving objectives.
Marketing and People
Market (Demand & Supply)
Approach to directing employees.
Marketing and People
Market (Demand & Supply)
Manufacturing large quantities of identical products using standardized processes.
Marketing and People
Market (Demand & Supply)
Organization structure combining functional and project-based reporting.
Marketing and People
Market (Demand & Supply)
Experienced person (mentor) guiding less-experienced person (mentee) on job, career, development.
Marketing and People
Market (Demand & Supply)
Drive/willingness of employees to work toward goals with effort/commitment.
Marketing and People
Market (Demand & Supply)
Frameworks explaining what drives employee behavior/performance.
Marketing and People
Market (Demand & Supply)
Factors causing genuine satisfaction and motivation in work.
Marketing and People
Market (Demand & Supply)
Training employees to perform multiple different job roles.
Marketing and People
Market (Demand & Supply)
Motivation methods not involving money: recognition, development opportunities, autonomy, flexible working, interesting
Marketing and People
Marketing Mix and Strategy
Pricing strategy setting a high initial price when launching a new product, then gradually reducing it over time as comp
Marketing and People
Marketing Mix and Strategy
Pricing strategy setting a deliberately low initial price to gain market share quickly, then raising the price once the
Marketing and People
Marketing Mix and Strategy
Pricing strategy setting prices very low — often below cost — with the deliberate intent of driving competitors out of t
Marketing and People
Marketing Mix and Strategy
The using up of natural resources (e.g. fossil fuels, rare minerals, forests) faster than they can be replenished, often
Marketing and People
Marketing Mix and Strategy
Business-to-Business marketing — promoting products or services sold from one business to another rather than to individ
Marketing and People
Marketing Mix and Strategy
Business-to-Consumer marketing — promoting products or services directly to individual end consumers.
Marketing and People
Marketing Mix and Strategy
The study of how individuals make decisions to spend their available resources (time, money, effort) on consumption-rela
Marketing and People
Meeting Customer Needs
The process of increasing the worth or usefulness of a product or service beyond its basic function, allowing businesses
Marketing and People
Meeting Customer Needs
A form of paid communication used to promote products, services, or brands to target audiences through various media (TV
Marketing and People
Meeting Customer Needs
Systematic errors that distort research results, causing them to deviate from the true picture.
Marketing and People
Meeting Customer Needs
The identity and reputation of a product or company, comprising name, logo, design, values, and customer perception.
Marketing and People
Meeting Customer Needs
The rivalry between businesses offering similar products/services to the same market.
Marketing and People
Meeting Customer Needs
Something a business does better than its rivals that makes customers choose it over others.
Marketing and People
Meeting Customer Needs
The tendency of consumers to repeatedly purchase from the same business and resist switching to competitors.
Marketing and People
Meeting Customer Needs
Statistical characteristics of human populations including age, gender, income, education, occupation, family size, ethn
Marketing and People
Meeting Customer Needs
A market that is constantly changing due to innovation, new competitors, changing consumer preferences, or technological
Marketing and People
Meeting Customer Needs
Use of Information and Communication Technology to gather and analyze market data.
Marketing and People
Meeting Customer Needs
Market research process to discover what customers require (needs - essential products) and desire (wants - preferred pr
Marketing and People
Meeting Customer Needs
Introduction of new ideas, products, services, or ways of doing business that create value.
Marketing and People
Meeting Customer Needs
Expansion of total market size measured by sales value or units sold.
Marketing and People
Meeting Customer Needs
Visual representation showing competitors' positions based on two chosen characteristics (e.g., price vs quality, luxury
Marketing and People
Meeting Customer Needs
Business approach prioritizing customer needs and wants above all else.
Marketing and People
Meeting Customer Needs
Strategy of placing a product/brand in consumers' minds relative to competitors.
Marketing and People
Meeting Customer Needs
Division of a market into distinct groups of consumers with similar characteristics, needs, or behaviors.
Marketing and People
Meeting Customer Needs
Large segment of the population willing to buy a standardized product.
Marketing and People
Meeting Customer Needs
Small segment of consumers with specific, often specialist needs underserved by mass-market competitors.
Marketing and People
Meeting Customer Needs
Selling products to consumers via internet/e-commerce platforms rather than physical stores.
Marketing and People
Meeting Customer Needs
Original data collected directly from sources for a specific purpose.
Marketing and People
Meeting Customer Needs
Non-numerical primary research focusing on understanding reasons, motivations, experiences.
Marketing and People
Meeting Customer Needs
Numerical primary research measuring how many, how often, attitudes using numbers.
Marketing and People
Meeting Customer Needs
Strategy of making a product distinct and different from competitors through features, quality, design, service, or bran
Marketing and People
Meeting Customer Needs
Business approach prioritizing what the company wants to make/sell based on production capability.
Marketing and People
Meeting Customer Needs
Non-numerical information providing description, understanding, and context.
Marketing and People
Meeting Customer Needs
Numerical information that can be measured and analyzed statistically.
Marketing and People
Meeting Customer Needs
Probability of a known or identifiable event occurring with measurable consequences.
Marketing and People
Meeting Customer Needs
Number of units/people selected for research study.
Marketing and People
Meeting Customer Needs
Existing data previously collected by others for different purposes, now analyzed for new purposes.
Marketing and People
Meeting Customer Needs
Using social media platforms to gather customer opinions, preferences, feedback, and behaviors.
Marketing and People
Meeting Customer Needs
Situation where outcomes cannot be predicted with certainty because variables are unknown or unmeasurable.
Marketing and People
Meeting Customer Needs
Distinctive feature(s) or benefit(s) of a product/service that differentiates it from competitors and appeals to target
Marketing and People