Business Management Final

Front 1

Promotion

Back 1

Aspect of the marketing mix concerned with the most effective techniques for selling a product.

Front 2

Promotional Mix

Back 2

Combination of tools used to promote a product.

Front 3

Positioning

Back 3

Process of establishing an identifiable product image in the minds of consumers.

Front 4

Advertising

Back 4

Promotional tool consisting of paid, non personal communication used by an identified sponsor to inform an audience about a product.

Front 5

Comparative Advertising

Back 5

Advertising strategy that directly compares two or more products.

Front 6

Advertising Media

Back 6

Variety of communication devies for carrying a seller's message to potential customers.

Front 7

Direct mail

Back 7

Advertising medium in which messages are mailed directly to consumer's homes or places of business

Front 8

Media Mix

Back 8

Comination of advertising media chosen to carry a message about a product.

Front 9

Service Operations

Back 9

Activities producing intangible & tangible prodcuts, such as entertainment transportation, and education

Front 10

Goods Production

Back 10

Activities producing tangible products such as radios newspapers and text books

Front 11

Utility

Back 11

A products ability to satisfy a human want

Front 12

Operations (production) Management

Back 12

Systematic direction & control of the processes that transform reseources into finished products that create value for and provide benefits to customers.

Front 13

Operations Process

Back 13

Set of methods and technologies used in teh production of a good or service

Front 14

Forecast

Back 14

Facet of a production plan that predicts futre demand

Front 15

Capacity

Back 15

Amount of a product that a company can produce under normal working conditions

Front 16

Process Layout

Back 16

Spatial arrangement of production activites that groups equipment & people according to function

Front 17

Operations Control

Back 17

Process of monitoring production performane by comparing results with plans

Front 18

Follow-up

Back 18

Productions control activity for ensuring that production decisions are being implemented

Front 19

Materials Management

Back 19

Planning organizing and controling the flow of materials from design through distribution of finished goods

Front 20

Productivity

Back 20

Measure of economic performance that compare how a system produces with the resources needed to produce it

Front 21

Quality

Back 21

A products fitness for use; its success in offering features that consumers want

Front 22

Labor Productivity

Back 22

Productivity ratio calculated by dividing total output by total labor inputs

Front 23

Total Quality Management (TQM)

Back 23

The sum of all activities involved in getting high quality products into the market place

Front 24

Quality Ownership

Back 24

Principal of total quality management that holds that qulity belongs to each person who creates it while performing a job

Front 25

Comparative Product Analysis

Back 25

Process by which a company analyzes a competitor product to identify desireable improvements

Front 26

Value Added Analysis

Back 26

Process of evaluating all work activites, materials flows, and paperwork to determine the value they add for customers

Front 27

ISO 9000

Back 27

Program Certifying that a factory laboratory or office has met the quality management standards of the international organization for standaradization

Front 28

ISO 14000

Back 28

Certification program attesting to the facet a factory laboratory or office has improved environmental performance

Front 29

Management Advisory Services

Back 29

Specialized account services to help managers resolve a variet of problems in finance, production, scheduling, and other areas.

Front 30

Financial Statement

Back 30

Any of several types of reports summarizing a company's financial status to aid in managerial decision making

Front 31

Balance Sheet

Back 31

Financial statement detailing a firm's assets, liabilities and owners equity

Front 32

Current Asset

Back 32

asset that can or will be converted into cash within the following year

Front 33

M-1

Back 33

measure of the money supply that includes only the most liquid forms of money

Front 34

check

Back 34

Demand deposit order instructing a bank to pay a given sum to a specified payee

Front 35

Demand Deposit

Back 35

bank account funds that may be withdrawn at anytime

Front 36

Commercial Bank

Back 36

Federal or state chartered financial institution accepting depostis that it uses to make loans and earn profits

Front 37

Prime Rate

Back 37

Interest rate availabe to a banks most credit worthy customers

Front 38

Savings & Loan Associatoin

Back 38

Financial institution accepting deposits & making loans primarily for home mortgages