Business Concepts Flashcard

Front

What is a Mission Statement?

Back

A concise statement defining the purpose and goals of a business.

Front

What are Illustrated Logos?

Back

Logos that incorporate pictorial elements or images with text.

Front

What are Abstract Graphic Logos?

Back

Logos that use non-representational shapes and patterns

Front

What is a Perceptual Map?

Back

A visual representation of consumer perceptions of brands.

Front

What is Cost-Based Pricing?

Back

Pricing determined by adding a markup to production costs

Front

What is Sales Forecasting?

Back

The process of estimating future sales and revenue

Front

What are Unit Sales?

Back

The number of individual products sold

Front

What is Revenue?

Back

The total amount of money earned from sales before expenses

Front

What is the difference between revenue and the cost of goods sold (COGS) called?

Back

Gross Profit

Front

What is the term for the amount of money remaining after all expenses, including taxes, have been deducted from revenue?

Back

Net Profit