Business Key Words

HideShow resource information
  • Created by: twomoodz
  • Created on: 13-04-18 13:37
Price
The amount of money the customer is willing to pay for a product
1 of 14
Cost
Money that the business pays out e.g. wages, money paid to suppliers
2 of 14
Industrial Goods
These are goods bought by a company and used in the making or providing of other goods and services. e.g. machinery
3 of 14
Consumer Goods
These are produced for the use of the public. e.g. iphone
4 of 14
B2B - Business 2 Business
Exchange of products and services between businesses.
5 of 14
Durable Goods
These last for a long time. Most Capital Goods are durable, as well as many consumer goods.
6 of 14
Non-Durable Goods
These products do not last long, this doesn't mean they break easily
7 of 14
Good
Goods are items that are tangible, such as pens, salt, shoes, hats and folders.
8 of 14
Service
Services are activities provided by other people, such as doctors, lawn care workers, dentists, barbers, waiters, or online servers.
9 of 14
Tangible Goods
Tangible goods are physical products defined by the ability to be touched.
10 of 14
Intangible Goods
Intangible goods are physical products defined by the ability to be touched.
11 of 14
Market Segmentation
This means dividing customers within a market into smaller groups with common needs or wants, then finding a product or service that fulfils their needs or wants.
12 of 14
Market Share
The share of the total market that is owned by a particular business, product or brand.
13 of 14
Prototype
It is a sample of a new product that needs to be tested
14 of 14

Other cards in this set

Card 2

Front

Money that the business pays out e.g. wages, money paid to suppliers

Back

Cost

Card 3

Front

These are goods bought by a company and used in the making or providing of other goods and services. e.g. machinery

Back

Preview of the back of card 3

Card 4

Front

These are produced for the use of the public. e.g. iphone

Back

Preview of the back of card 4

Card 5

Front

Exchange of products and services between businesses.

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all - resources »