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BPT Part 2
Term | Definition |
---|---|
Management | the process of dealing w/ or controlling things/people |
Market analysis | the activity of gathering information about conditions that affect a market place |
Market position | the ability to influence consumer perception regarding a brand/product relative to competitors |
Marketing | the activity/business of promoting and selling products/services, including market research and advertising |
Marketing plan | the advertising strategy that a business will implement to sell it's product/service |
Niche | a market segment where certain products and services are in demand |
Operations | the fact/condition of functioning or being active |
Physical resources | tangible items that are used in the operation of the business |
Product | an article/substance that is manufactured/refined for sale |
Product development | a series of steps that includes the conceptualization, design, development, and marketing of goods/services |
Product promotion | the process of explaining the value of a product to potential and existing customers to educate, generate interest and spur purchase |
Profit | obtain a financial advantage/benefit, especially from an investment |
Resource | a stock/supply of money, materials, staff and other assets that can be drawn on by a person/organization in order to function effectively |
Return to Equity | the measure of a company's net income divided by it's shareholders' equity |
Return on investment | A performance measure used to evaluate the efficiency of an investment or compare the efficiency of several investments |
Risk management plan | the forecasting and evaluation of financial risks together w/ the identification of procedures to avoid/minimize their impact |
Royalty | a sum of money paid to a patentee for the use of a patent or to an author/composer for each copy of a book sold or for the each public performance of a work |
Sales volume | the number of units |