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Stack #4567426
| Question | Answer |
|---|---|
| Marketing-Information Management | The marketing function that involves gathering, accessing, evaluating, and distributing data about customer preferences to use in business decisions |
| Customer Relationship Management | A field combining marketing information management with customer service to create relationships through personal communications |
| Database Marketing | Creating and maintaining customer lists from various sources for targeted marketing |
| Data Mining | Analyzing large datasets to discover patterns and insights for business decisions |
| Market Research | Systematic gathering, recording, and analyzing data about problems relating to goods and services |
| Market Segmentation | Dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors |
| How individuals make decisions to spend their resources on consumption-related items | |
| Demographic Data | Statistical data about population characteristics such as age, gender, income, and education |
| Psychographic Data | Information about consumer attitudes, values, lifestyles, and interests |
| Positioning | Creating a distinct image and identity for a product in the consumer's mind |
| Branding | Creating a unique name and image for a product in the consumer's mind |
| Brand Equity | The commercial value derived from consumer perception of the brand name |
| Product/Service Management | |
| Product/Service Management | Obtaining, developing, maintaining and improving a product or service mix |
| Product Differentiation | Setting a product apart from competitors through unique features and benefits |
| Product Mix | The combination of product lines and individual products offered by a business |
| Product Lifecycle | The stages a product goes through from introduction through growth, maturity, and decline |
| Service Quality | The degree to which a service meets or exceeds customer expectations |
| Product Development | The process of creating new products or improving existing ones |
| New Product Introduction | The launch phase when a product is first made available to the market |
| Product Adaptation | Modifying products to suit different markets or customer segments |
| Promotion | |
| Promotion | Communicating information about goods, services, images or ideas to achieve a desired outcome |
| Advertising | Paid, impersonal communication of promotional messages through media channels |
| Sales Promotion | Short-term incentives to encourage customer purchases |
| Public Relations | Building and maintaining positive relationships between an organization and its public |
| Direct Marketing | Communicating directly with target customers to generate a response or transaction |
| Publicity | Non-paid promotion through media coverage |
| Integrated Marketing Communications | Coordinating all promotional activities to deliver a consistent, unified message |
| Promotional Mix | The combination of promotional tools used by a business |
| Promotional Strategy | The overall plan for communicating product information and persuading customers to purchase |
| Emotional Intelligence | |
| Emotional Intelligence | The ability to understand and control your own feelings and understand the feelings of others |
| Self-Awareness | Understanding your own emotions, strengths, weaknesses, and their effects |
| Self-Regulation | The ability to manage and control emotions appropriately |
| Empathy | Understanding and sharing the feelings of others |
| Social Skills | The ability to manage relationships and interact effectively with others |
| Leadership | The ability to guide and influence others toward achieving organizational goals |
| Motivation | The internal drive that directs behavior toward goals |
| Teamwork | Collaborative effort of a group to achieve a common goal |
| Conflict Resolution | The process of resolving disputes or disagreements |
| Negotiation | Discussion aimed at reaching an agreement |
| Adaptability | The ability to adjust to new conditions and changes |
| Channel Management | |
| Channel Management | The process of organizing and directing the flow of products through distribution channels |
| Channel of Distribution | The path a product takes from producer or manufacturer to final consumer |
| Wholesaler | A business that buys goods from producers and sells them to retailers |
| Retailer | A business that buys consumer goods and sells them to final customers |
| Direct Distribution | When a producer sells directly to consumers without intermediaries |
| Indirect Distribution | Distribution that uses intermediaries such as wholesalers and retailers |
| Distributor | An intermediary that stocks and sells products to retailers or end users |
| Channel Conflict | Disagreements among channel members about goals and roles |
| Vertical Integration | When a company owns multiple levels of its distribution channel |
| Supply Chain | The network of organizations involved in producing and delivering a product |
| Communications | |
| Communications | The exchange of information and ideas between two or more parties |
| Active Listening | Giving full attention to what someone is saying and providing feedback |
| Business Writing | Clear, professional written communication for business purposes |
| Nonverbal Communication | Communication without using words, such as body language and facial expressions |
| Written Communication | Communication through written words, including emails, reports, and letters |
| Verbal Communication | Communication through spoken words |
| Feedback | Information or reaction provided in response to an action or statement |
| Presentation Skills | The ability to effectively present information to an audience |
| Email Etiquette | Professional standards for email communication |
| Operations | |
| Operations | The day-to-day activities of a business including scheduling, logistics, and facilities management |
| Supply Chain Management | Managing the flow of goods and services from supplier to customer |
| Inventory Management | Managing product stock to ensure availability while minimizing excess |
| Quality Control | The process of ensuring products or services meet established standards |
| Logistics | The movement and storage of goods and services in a distribution channel |
| Process Improvement | Systematic approach to making workflows more effective and efficient |
| Lean Management | Methodology focused on minimizing waste while maximizing value |
| Operations Management | Planning, organizing, and supervising production and service operations |
| Professional Development | |
| Professional Development | Concepts and strategies used to explore, obtain, and develop in a career |
| Goal Setting | Establishing specific, measurable objectives to achieve |
| Time Management | Organizing and prioritizing tasks to use time effectively |
| Decision Making | Choosing among alternative courses of action |
| Problem Solving | The process of finding solutions to challenges or issues |
| Innovation | Introducing new ideas, methods, or products |
| Critical Thinking | Objective analysis and evaluation of information to form judgment |
| Professional Ethics | Moral principles that govern professional conduct |
| Career Development | The ongoing process of managing your career path |
| Financial Analysis | |
| Financial Analysis | The examination of financial statements to assess a company's performance |
| Balance Sheet | A financial statement showing assets, liabilities, and owner's equity |
| Income Statement | A financial statement showing revenues, expenses, and profits over a period |
| Cash Flow Statement | A statement showing when cash flows into and out of a business |
| Break-Even Analysis | The calculation of the point where revenue equals expenses |
| Financial Statements | Formal records of business financial activities |
| Profit Margin | The percentage of revenue that becomes profit |
| ROI (Return on Investment) | A measure of the profitability of an investment |
| Financial Ratio | Mathematical comparisons of financial statement accounts |
| Information Management | |
| Information Management | Understanding tools and systems needed to access, process, and maintain information |
| Information Systems | Hardware, software, data, and procedures for managing information |
| Data Security | Protecting sensitive business and customer information from unauthorized access |
| Database Management | Organizing and maintaining databases for efficient data access |
| Information Technology | The use of computers and software to manage information |
| Hardware | Physical computer equipment |
| Software | Programs and applications that run on computers |
| Business Records | Documents that record business transactions and activities |
| Economics | |
| Economics | The social science that studies production, distribution, and consumption of goods and services |
| Supply | The amount of goods producers are willing to produce and sell at given prices |
| Demand | The amount of goods consumers are willing and able to buy at given prices |
| Supply and Demand | The relationship between the quantity of a commodity available and the desire for it |
| Economic Systems | The way a society organizes production and distribution of goods and services |
| Capitalism | An economic system based on private ownership and free markets |
| Gross Domestic Product | The total value of goods and services produced within a country |
| Inflation | An increase in the general level of prices |
| Interest Rates | The cost of borrowing money |
| Economic Indicators | Statistics that indicate the health of an economy |
| Business Cycles | The recurring pattern of expansion and contraction in economic activity |
| Selling | |
| Selling | Determining client needs and wants and responding through personalized communication |
| Sales Process | The steps involved in making a sale from approach to follow-up |
| Customer Needs Assessment | Identifying what customers want and need |
| Sales Presentation | Demonstrating product features and benefits to potential customers |
| Objection Handling | Addressing customer concerns during the sales process |
| Sales Closing | The final step where the customer agrees to make a purchase |
| Relationship Selling | Building long-term relationships with customers |
| Consultative Selling | Understanding customer needs and offering solutions |
| Market Planning | |
| Market Planning | Developing strategies to enter and compete in target markets |
| Market Analysis | Examining market conditions, trends, and opportunities |
| Competitive Analysis | Examining competitors' strengths, weaknesses, strategies, and market position |
| Market Opportunity | Favorable conditions for entering or expanding in a market |
| Market Trends | Patterns of change in market conditions over time |
| Target Market Analysis | Studying the characteristics and behaviors of intended customers |
| Market Entry Strategies | Plans for entering new markets |
| Pricing | |
| Pricing | Determining the monetary value for a product or service |
| Pricing Strategy | The approach used to set prices for products or services |
| Cost-Plus Pricing | Setting price by adding a markup to product cost |
| Value-Based Pricing | Pricing products based on perceived customer value |
| Competitive Pricing | Setting prices based on competitor prices |
| Discount Strategy | Planned reductions in price to achieve specific goals |
| Price Elasticity | How sensitive demand is to changes in price |
| Customer Relations | |
| Customer Relations | Techniques and strategies used to foster positive, ongoing customer relationships |
| Customer Service | Assistance and advice provided to customers before, during, and after purchases |
| Customer Satisfaction | The degree to which customer expectations are met |
| Customer Loyalty | When customers consistently choose a brand over competitors |
| Complaint Resolution | The process of addressing and solving customer complaints |
| Customer Retention | Keeping existing customers engaged and continuing to buy |
| Service Recovery | Actions taken to restore customer satisfaction after a service failure |
| Business Law | |
| Business Law | The body of law governing commercial transactions and business operations |
| Sole Proprietorship | A business owned and operated by one person |
| Partnership | A business owned by two or more people |
| Corporation | A legal entity separate from its owners that provides limited liability |
| Contracts | Legally binding agreements between parties |
| Warranties | Guarantees about product quality or performance |
| Legal Liability | Legal responsibility for actions or damages |
| Human Resources Management | |
| Human Resources Management | Managing an organization's employees and their development |
| Employee Selection | The process of choosing qualified candidates for employment |
| Training | Providing employees with skills and knowledge for their jobs |
| Performance Management | Setting goals, providing feedback, and evaluating employee performance |
| Employee Relations | Managing relationships between employers and employees |
| Compensation | Payment and benefits provided to employees |
| Marketing | |
| Marketing | The process of planning, pricing, promoting, selling and distributing products |
| Marketing Concept | A business philosophy that prioritizes satisfying customer needs |
| Marketing Functions | Activities involved in marketing products and services |
| Target Market | The specific group of customers a business aims to reach |
| Market Positioning | How a brand is perceived relative to competitors |
| Strategic Management | |
| Strategic Management | The process of achieving company goals through effective use of resources |
| Management | The process of planning, organizing, leading, and controlling resources |
| Planning | Setting goals and determining how to achieve them |
| Organizing | Arranging resources and tasks to achieve objectives |
| Leading | Guiding and motivating employees toward goals |
| Controlling | Monitoring performance and making necessary adjustments |
| Business Strategy | Long-term plans for achieving competitive advantage |
| Entrepreneurship | |
| Entrepreneurship | Providing skills, time, and money to start or operate a new business |
| Entrepreneurial Mindset | Characteristics including opportunity recognition and risk-taking |
| Opportunity Recognition | Identifying unmet needs or market gaps |
| Risk Management | Identifying and mitigating potential business risks |
Created by:
khondakerr