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Nature of Business

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Question
Answer
Business   Individuals or organizations trying to make a profit by providing products that satisfy peoples needs.  
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Product   A good or service with tangible and intangible characteristics that provide satisfaction and benefits.  
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Her definition of product   A good or service with characteristics/attributes that meet or provide consumers needs.  
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Management   Focus on employees, coordinates employees actions, organizing people for efficiency, motivates employees toward business goals  
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Marketing   Focus on satisfying customers, determines what products people want, determines the price, determines distribution, determines promotion.  
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Finance   Primary responsibility of owners, obtaining money, using money efficiently, accountants, stock brokers, bankers  
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Marketing Mix   Planned mix of the controllable elements of a product's marketing plan commonly termed as 4P's: product, price, place, and promotion.  
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Created by: 10rjenkins
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