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Nature of Business

QuestionAnswer
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.
Created by: 10rjenkins
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