Marketing 51-60 Flashcards
Aptitudes
The abilities needed for certain jobs
Consumers
People who use goods and services to satisfy their personal needs and wants
Unlimited liability
Requirement that business owners are responsible for paying all debts
Product life cycle
The stages through which goods and services move from the time they are introduced until they are taken off the market
Market share
An organizations portion of the total industry sales in a specific market
Product line
A group of related product items
Product mix
The particular assortment of products that a business offers
Advertising
Any paid form of a non-personal presentation of ideas, goods and services
Natural resources
Items that are found in nature that are used to produce goods and services
Business cycles
Periods if economic fluctuations or periods of economic ups and downs
