department responsible for creating products which meet consumer wants and needs, guiding products through the product life cycle and understanding consumers through marketing research
Business Characteristics Vocabulary

Flashcard
•
Business
•
10th Grade
•
Hard
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23 questions
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1.
FLASHCARD QUESTION
Front
Back
Marketing
2.
FLASHCARD QUESTION
Front
department responsible for producing goods and services in the most efficient and cost-effective manner
Back
Production
3.
FLASHCARD QUESTION
Front
marketing theory stating the stages experienced by products and services from their introduction to their decline; consists of four stages: introduction, growth, maturity, decline
Back
Product Life Cycle
4.
FLASHCARD QUESTION
Front
pyramid expressing the needs of people in levels: basic needs, safety, belongingness, love, esteem and self-actualization
Back
Maslow's Hierarchy of Needs
5.
FLASHCARD QUESTION
Front
businesses which change raw or processed goods into finished goods
Back
Producers
6.
FLASHCARD QUESTION
Front
department responsible for managing the use of company funds, obtaining needed funds and creating a financial plan
Back
Finance
7.
FLASHCARD QUESTION
Front
debts or obligations of a business
Back
Liabilities
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