Principles of Business, Marketing & Finance (Final Exam Review 1)

To give up an individual idea, or part of an idea, so that the group can come to a solution:

Cooperative efforts by individual team members to achieve a goal:

Something that cannot be touched.

Motivators or change factors from outside the business:

A document describing business and marketing objectives and the strategies and tactics to achieve them.

A working model of a new product for testing purposes:

The minimum price set by the government for certain goods and services that it thinks are being priced too low:

The process of controlling and making decisions about a business:

Pricing an item much lower than the current market price or the cost of acquiring the product:

Retailers that sell products through websites:

The strategy for using the elements of product, price, place and promotion:

Introduction of a new product to a small portion of the target market to learn how it will sell:

A business that sells materials, supplies, or services to an organization that creates products.

_____________ deals with money matters related to running a business.

____________ involves making a product or providing a service.

The process of recruiting, hiring, training, evaluating and compensating employees:

The businesses, people, and activities involved in the production of products and delivering them to end users:

A specific group of customers whose needs a company focuses on satisfying:

A check written for an amount greater than the balance on an account:

When individuals involved in a conflict come together to discuss a compromise: