MARKETING QUIZS 1

CREDIT UNION

• a member-only cooperative created by labor unions or groups of employees

• a financial institution that offers loans to anyone

• a type of bank that is owned by shareholders

• a government agency that regulates financial markets

RISK

• The possibility of loss, damage or any undesirable event; not the same as uncertainty

• A guaranteed outcome with no chance of loss

• An opportunity for profit without any potential downsides

• A measure of how likely an event is to occur

BUSINESS RISKS

• 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

• risks that are common across all businesses regardless of their structure

• risks that arise from external factors such as market fluctuations and economic downturns

• risks that are only relevant to large corporations and not to small businesses

NATURAL RISKS

What are risks associated with the environment?

• Volcanic eruptions

• Cyber attacks

• Economic recession

• Political instability

FINANCIAL RISKS

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

• risks related to market competition and consumer preferences

• risks associated with operational inefficiencies and management decisions

• risks stemming from regulatory changes and compliance issues

STATISTICS

• collection, organization and analysis of numerical data

• a method for collecting qualitative data

• a technique for random sampling

• a way to visualize data through graphs

WHOLESALERS

• buyers of large quantities of a product; store merchandise and resell to other businesses

• individuals who purchase products for personal use

• retailers who sell directly to consumers

• manufacturers who produce goods for sale

MEAN

• average or sum of units divided by the total number of units

• the middle value in a data set

• the most frequently occurring value in a data set

• the difference between the highest and lowest values in a data set

ECONOMIC RISKS

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

• risks associated with individual business decisions and strategies

• risks arising from technological advancements and innovations

• risks linked to environmental factors and natural disasters

INTERMEDIARIES

• Businesses that manufacture products

• Businesses that sell products directly to consumers

• Businesses in the channel progressing products from the manufacturer to the final customer

• Businesses that provide customer service for products