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unit 3

this is for unit three in marketing lol

Sole Proprietor A type of business owned by one person. Characteristics include easy start-up, owners keep all profits, and make all important decisions.
Partnership A type of business owned by two or more people. A legal agreement between owners is necessary. Advantages included pooled skills, pooled capital and divided
Corporation A separate legal entity owned by its stockholder and established through an application for a business charter in the state in which they do business Characteristics include easy access to capital through stock sales and legal protection for stock owners
Manufacturer A business that produces finished goods using raw materials and sells the products to wholesale or retail markets.
Service Industry A business that provides labor for which they are paid rather than producing physical goods. Some examples are mechanics, hair-stylists, or accountants.
Franchise A written contract granting permission to sell someone else's product in a prescribed manner in a specific territory.
Customers The actual or prospective purchaser of products or services
Consumers The ultimate user or consumer of goods, ideas, and services
Tangible capable of being perceived especially by the sense of touch, something you can touch
Intangible Intangible- NOT something you can touch
Created by: izzymenendez



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