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Terms in this set (105)
Any organisation that uses resources to meet the needs of customers by providing a product or service that they demand. They identify the needs of consumers or other firms. They then purchase resources, which are the inputs of the business or factors of production, to produce output. The 'outputs' of a business are the goods and services that satisfy consumers' needs, usually with the aim of making a profit.
The decision-making of senior management about setting and achieving strategic objectives - broadly defined targets that a business much reach to achieve its overall aim.
Profit maximisation
Profit satisficing
Increasing market share
Corporate social responsibility (CSR)
Maximising short-term sales revenue
Maximising shareholder value
A type of financial or banking service targeted at individuals and groups that would otherwise have no means of accessing credit. The aim of microfinance is to allow impoverished groups and individuals the opportunity to become self-sufficient.
It is believed small amounts of microcredit will facilitate large improvements in the standard of living of those most in need.
The process or set of processes that links the producers, customers, and end users to the marketer through information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyses the results, and communicates the findings and their implications.