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Entrepreneurship Vocabulary Flashcards | StudBud
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Entrepreneurship Vocabulary
Entrepreneurship Vocabulary
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1
prospecting
selling process
approch to developing new sales leads or customers
2
permit
license
legal document giving official permission to run a business
3
carrying capacity
idc
to understand the industry ability to support new growth
idk
4
shareholder
owners of the corporation
nonprofit
5
direct channel
web site
you will be the product
6
industrial parks
sets aside certain areas from industrial uses
manufacturers
7
profile
instagram
twitter
facebook
characteristics that identifies a type or category of person
8
team building
invloves activities designed to encourage teamworks
leader in the team
9
goodwill
an extremely valuable business asset
a business
franchise
store
10
selective distribution
wholesalers
agents
limited the number of sales outlet in an area
11
capacity
final contract
legal ability to enter into a binding agreement
12
trademark
a word, symbol, design, or color a business use
service mark
13
marketing position
market share
act of identifying a specific market niche for a product
14
bundle pricing
pricing technique which several complementary products sold
promotional pricing
15
complexity
uncertainty
number and diversity of contracts with which you deal
16
role model
nobody
leader
follower
person whose attitude and achievements they tried to emulate
17
suggestion selling
closing the sale
selling additional goods or services to customers
18
tariff
trade barrier
is kind of trade barrier
nothing
19
trade area
business consideration
region of the community from which you expect to draw custom
20
facade
face of the building
design features
21
shrinkage cost
cost associated with the loss of inventory items that broke
obsolescence cost
22
conceptual skills
idk
skills that enables a person to understand concepts an ideas
idc
23
strategic alliance
creating a partnership with another company
friendship
24
scarcity
something you dont need to survive
occurs when demand exceeds supply
intangible products
good or service that consumers are willing and able to buy
25
niche
small specialized market
idea versus opportunity
i dont care
i dont know
26
intensive distribution
placement of a product in all suitable sales outlet
transportation
27
business broker
someone whose job is to bring buyers and sellers together
Nothing
I dont Know
28
brand loyalty
clothes
tendency to buy a particular brand of product
shoes
29
time management
principals
process of allocating time effectively
30
foundation skills
communication skills
math skills
teamwork skilld
skills that are used when setting up and running a business
31
channel of distribution
a product takes from producers to final user or consumers
a direct channel
32
exclusive distribution
retailers
limit the number of outlet to one per area
33
lead time
gap in time between placing order and receiving delievery
non periodic reordering
34
mass marketing
trying to reach all customers with a single marketing plan
demographic
35
achiever
write your goals down on paper
set out to be the best at whatever you do
idk
person wuth a record of sucesses
36
usage rate
how quickly the inventory will be used in a given period
reordering
safety stocks
37
consideration
what is exchanged for the promise
contact to be binding
38
incentive
primarily industrial
the major industries that provides jobs
39
break-even point
break-even analysis
point which the gain from an economic activity equals cost
40
indirect channel
delivers the product to the customer
growth plan
to sell your game to a wholesaler
financial plan
41
solo properietorship
business owned and operated by one person
operated by 2 people
operated by a group
42
penetration pricing
build sales by charging a low intial price to keep cost low
one-price policy
43
target customers
talking to customers
most likely to buy his product and services
44
nonverbal communication
involving words
is communication not involving words
45
oilgopoly
product to keep
product to sell
market structure in which there just few competing firms
product to buy
46
partnership
operated by one person
unincorporated business with 2 or more owners
47
benefit
delvers to the customer
promotes the value of the product or service to the customer
48
feature
a characteristic of a product or sevice
just a product
just a service
49
preapproach
approach
customers that are intended to help achieve successful sales
50
discontinuance
business that has stopped operating with a loss to creditor
idea that has commercial values
idk
a business that is operating under a new name
