is the unique name of a product that distinguishes it from other brands.

is the physical container or wrapping for a product. It is also used for promotion and selling appeal.

is a term that is used to describe all the activities which go into marketing a product or service. These activities are often summarized as the four Ps – product, price, place, and promotion.

describes the stages a product will pass through from its introduction, through its growth until it is mature, and then finally its decline.

is the group of people who are selected to respond to a market research exercise.

is a financial plan for the marketing of a product or product range for some specified period of time.

is the process of gathering, analyzing, and interpreting information about a market.

is identifying customer wants and satisfying them profitably.

is when existing customers continually buy products from the same business.

is a small, usually specialized, segment of a much larger market.

buys goods or services for personal use (not to re-sell).

is the percentage of total market sales held by one brand or business.

is an identifiable sub-group of a whole market in which consumers have similar characteristics or preferences.

is when messages are sent through established channels using professional language.

is when employment is ended against the will of the employee, usually for not working in accordance with the employment contract.

is an introduction given to a new employee, explaining the business’s activities, customs, and procedures and introducing them to their fellow workers.

is the process of identifying that the business needs to employ someone up to the point at which applications have arrived at the business.

means giving a subordinate the authority to perform particular tasks

is the structure in an organization that allows instructions to be passed down from senior management to lower levels of management.

refers to a diagram that outlines the internal management structure

is payment relating to the number of sales made.

is the reason why employees want to work hard and work effectively for the business.

is any person or group with a direct interest in the performance and activities of a business.

are payments made to shareholders from the profits (after tax) of a company? They are the return to shareholders for investing in the company.

is a business based upon the use of the brand names, promotional logos, and trading methods of an existing successful business. The franchisee buys the license to operate this business from the franchisor.

is a business in the public sector that is owned and controlled by the state (government).

are businesses owned by shareholders but they can sell shares to the public and their shares are tradeable on the Stock Exchange.

are the owners of a limited company. They buy shares that represent part-ownership of the company.

means that the liability of shareholders in a company is limited to only the amount they invested.

is when one business merges with or takes over a business in a completely different industry. This is also known as Diversification.

occurs when there is a decline in the importance of the secondary, manufacturing sector of industry in a country.

is the next best alternative given up by choosing another item?

Factors of production

is the difference between the selling price of a product and the cost of bought-in materials and components.