definitions

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  • Created by: xxemilyxx
  • Created on: 31-05-14 14:27
Product portfolio
The range of products a business sells
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Channels of distribution
How the goods get from the producer to the consumer
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Marketing strategy
The 4 Ps - considering them all
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Design mix
Function, appearance, cost triangle
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Benchmarking
Trying to equal the quality standards set by another company
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Sales of goods act
Products must be fit for purpose and as described
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Credit control
Chasing up creditors who owe you money
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Margin of safety
Actual sales minus break-even sales
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Export subsidy
Money from the government given to companies to make exporting easier
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Resource depletion
e.g using up all the coal and oil in the world
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Decentralised
Lots of delegation, the boss trusts many subordinates
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Centralised
Not much delegation, the boss is in control
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Stock market flotation
Becoming a PLC, selling shares in your business to raise large amounts of finance
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Equity
Funds raised through selling shares in your business, often called share capital
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Brand
A clear identity to separate a product from its competitors
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Flat rate
Paid hourly - no incentive to work harder
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Piece rate
Paid according to production - may cause lower quality products
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plc
Public limited company -shares are on the stock exchange. Limited liability
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Ltc
Private limited company - shares only sold if all the shareholders agree. Limited liability
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Sole trader
easy to set up. Unlimited liability, long hours
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Other cards in this set

Card 2

Front

How the goods get from the producer to the consumer

Back

Channels of distribution

Card 3

Front

The 4 Ps - considering them all

Back

Preview of the back of card 3

Card 4

Front

Function, appearance, cost triangle

Back

Preview of the back of card 4

Card 5

Front

Trying to equal the quality standards set by another company

Back

Preview of the back of card 5
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