Thursday, April 4, 2013

Definitons of key terms in business studies...

*Partnership - A effective form of credit line governing body in which two or more people - the calveners - duty collectively.

*Fixed Cost - Those costs, which, in the short run, do not vary with output.

*Marketing - The duty function that aims to link the vocation to the customer and aims to get the right product to the right typeset at the right time.

*Market Segment - A part of the foodstuff for a product do up of consumers manduction common characteristics. This segment can then be targeted with portion marketing strategies.

*Private Limited Company - An incorporated business that is owned by shareholders but does not have the legal right to offer shares for sale to the public.

*Strategy - A semipermanent plan of action, aiming to achieve a specific objective.

*Product phylogeny - Aiming to tuck marketing objectives by designing and developing smart products or by adapting and updating existing ones.

*Product druthers - Focusing on the design and quality of the product, often made in traditional ways, rather than on using market research to establish the products that are most likely to be successful in the market.

*Market Orientation - A business strategy focusing on the needs and wants of consumers and developing products to meet them.

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*Economic Growth - An increase in a nations GDP, afterwards adjusting for inflation - an increase in real GDP.

*Loan Capital - pay raised from external lenders such as bank and debenture holders.

*Profit Margin - The profit made as a proportion of sales revenue.

*Income Elastic - Measures the responsiveness of demand for a product following a change in consumers incomes.

* toll Elasticity of Demand - The responsiveness of demand following a change in the price of a product.

*Leasing - This reduces the cost of getting fixed assets...

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