Business Unit 3

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  • Created by: anushka
  • Created on: 21-05-15 18:42
Market share
the percentage of total sales of one particular product that comes from an individual business
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Market penetration
the process of expanding market share so as to reach a larger number of customers
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Innovation
either a new product development or an improvement in the design of a existing product
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Supply chain
the sequence of processes which starts with acquiring the most basic inputs and ends with delivery of the product to the customer
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Investment
spending now that will generate income in the future
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Productiviy
output per unit of an input
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Structural change
occurs when some industries are declining while others are growing
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External costs
occur when production involves the use of degradation of resources which neither producers nor consumers pay for
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Single market
barriers to the movement of goods, services, people and capital have gradually been reduced within the EU
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Technology transfer
refers to the way in which countries with limited access to new technologies may acquire expertise when multinational companies locate their
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State owned enterprises
businesses that are run by the government
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Centrally planed economies
those in which all or most economic decisions were taken by governmentS
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Consumer profiles
the characteristics of customers within a market segment
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Market mapping
places competing producers or products on a grid that shows how the market perceives each in relation to two market characteristics
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Market positioning
defines products according to likely customer perceptions of their selling point
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Emerging markets
those that are not yet fully developed but have a group of middle class consumers that is large and prosperous enough to provide a market for developed country products
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Dumping
exporting at a price that is less than the true cost of production
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Infant industires
those with some prospect of profitability in the long run
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Global marketing
the marketing strategies used by the businesses when operating in global markets
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Other cards in this set

Card 2

Front

the process of expanding market share so as to reach a larger number of customers

Back

Market penetration

Card 3

Front

either a new product development or an improvement in the design of a existing product

Back

Preview of the back of card 3

Card 4

Front

the sequence of processes which starts with acquiring the most basic inputs and ends with delivery of the product to the customer

Back

Preview of the back of card 4

Card 5

Front

spending now that will generate income in the future

Back

Preview of the back of card 5
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