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
2 of 19
Innovation
either a new product development or an improvement in the design of a existing product
3 of 19
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
8 of 19
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
10 of 19
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
12 of 19
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
19 of 19
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
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
Card 5
Front
spending now that will generate income in the future
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