click below
click below
Normal Size Small Size show me how
Nature of Business
Question | Answer |
---|---|
Business | Individuals or organizations trying to make a profit by providing products that satisfy peoples needs. |
Product | A good or service with tangible and intangible characteristics that provide satisfaction and benefits. |
Her definition of product | A good or service with characteristics/attributes that meet or provide consumers needs. |
Management | Focus on employees, coordinates employees actions, organizing people for efficiency, motivates employees toward business goals |
Marketing | Focus on satisfying customers, determines what products people want, determines the price, determines distribution, determines promotion. |
Finance | Primary responsibility of owners, obtaining money, using money efficiently, accountants, stock brokers, bankers |
Marketing Mix | Planned mix of the controllable elements of a product's marketing plan commonly termed as 4P's: product, price, place, and promotion. |