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38 Cards in this Set
- Front
- Back
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Promotion
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Aspect of the marketing mix concerned with the most effective techniques for selling a product.
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Promotional Mix
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Combination of tools used to promote a product.
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Positioning
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Process of establishing an identifiable product image in the minds of consumers.
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Advertising
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Promotional tool consisting of paid, non personal communication used by an identified sponsor to inform an audience about a product.
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Comparative Advertising
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Advertising strategy that directly compares two or more products.
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Advertising Media
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Variety of communication devies for carrying a seller's message to potential customers.
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Direct mail
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Advertising medium in which messages are mailed directly to consumer's homes or places of business
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Media Mix
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Comination of advertising media chosen to carry a message about a product.
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Service Operations
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Activities producing intangible & tangible prodcuts, such as entertainment transportation, and education
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Goods Production
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Activities producing tangible products such as radios newspapers and text books
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Utility
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A products ability to satisfy a human want
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Operations (production) Management
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Systematic direction & control of the processes that transform reseources into finished products that create value for and provide benefits to customers.
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Operations Process
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Set of methods and technologies used in teh production of a good or service
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Forecast
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Facet of a production plan that predicts futre demand
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Capacity
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Amount of a product that a company can produce under normal working conditions
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Process Layout
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Spatial arrangement of production activites that groups equipment & people according to function
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Operations Control
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Process of monitoring production performane by comparing results with plans
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Follow-up
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Productions control activity for ensuring that production decisions are being implemented
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Materials Management
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Planning organizing and controling the flow of materials from design through distribution of finished goods
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Productivity
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Measure of economic performance that compare how a system produces with the resources needed to produce it
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Quality
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A products fitness for use; its success in offering features that consumers want
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Labor Productivity
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Productivity ratio calculated by dividing total output by total labor inputs
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Total Quality Management (TQM)
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The sum of all activities involved in getting high quality products into the market place
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Quality Ownership
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Principal of total quality management that holds that qulity belongs to each person who creates it while performing a job
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Comparative Product Analysis
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Process by which a company analyzes a competitor product to identify desireable improvements
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Value Added Analysis
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Process of evaluating all work activites, materials flows, and paperwork to determine the value they add for customers
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ISO 9000
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Program Certifying that a factory laboratory or office has met the quality management standards of the international organization for standaradization
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ISO 14000
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Certification program attesting to the facet a factory laboratory or office has improved environmental performance
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Management Advisory Services
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Specialized account services to help managers resolve a variet of problems in finance, production, scheduling, and other areas.
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Financial Statement
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Any of several types of reports summarizing a company's financial status to aid in managerial decision making
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Balance Sheet
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Financial statement detailing a firm's assets, liabilities and owners equity
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Current Asset
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asset that can or will be converted into cash within the following year
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M-1
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measure of the money supply that includes only the most liquid forms of money
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check
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Demand deposit order instructing a bank to pay a given sum to a specified payee
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Demand Deposit
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bank account funds that may be withdrawn at anytime
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Commercial Bank
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Federal or state chartered financial institution accepting depostis that it uses to make loans and earn profits
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Prime Rate
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Interest rate availabe to a banks most credit worthy customers
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Savings & Loan Associatoin
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Financial institution accepting deposits & making loans primarily for home mortgages
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