MARKETING FLASHCARDS 1

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RISK

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considered an indicator of a treat; the possibility of loss, damage or any undesirable event; not the same as uncertainty

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BUSINESS RISKS

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risks specific to the type of business or organizational structure; generally greater when a business first begins operation; of great importance to entrepreneurs and business owners

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NATURAL RISKS

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risks associated with the environment, include volcanic eruptions, hurricanes, earthquakes, tornados, tsunamis, fires, etc.

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FINANCIAL RISKS

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risks specific to an entrepreneur's business; involve the financial state of a business

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ECONOMIC RISKS

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risks caused by changes in overall business conditions; result from a shift of the nation's economy

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POPULATION MIGRATION

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the mass movement of people who inhabit the same area, region or country

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CULTURAL DIVERSITY

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ethnic variety, as well as socioeconomic and gender variety in a group, society or institution

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FAMILY DEMOGRAPHICS

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the characteristics of families such as size, growth and financial status

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SERVICE INFLUX

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companies locally and internationally are required to provide more or better services

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GLOBAL COMPETITION

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organizations compete around the world; organizations sell products in foreign countries