Marketing Essentials - Ch 5
Based on the 2009 text (the orange book).
Terms in this set (19)
Free Enterprise System
encourages individuals to start and operate their own businesses in a competitive system without government involvement
owning the rights to an item or idea
identifies a good or service and that cannot be used by anyone but the owner
involves anything that is authorized by an individual such as writings, music, and artwork.
a free enterprise system that attracts new customers and keeps old ones
focuses on the sale price of the product
businesses choose to compete on the basis of factors that are not related to price
exclusive control over a product or the means of producing it
potential for loss or failure
the money earned from conducting business after all costs and expenses have been paid
amount of goods producers are willing to make and sell
refers to consumer willingness and ability to buy products
the amount of product being supplied is equal to the amount being demanded
a business that sells its products only in its own country
sells its product in more than one country
seeks to make a profit from its operations
functions like a business but uses money it makes to fund the cause identified in its charter
government financed agencies
businesses not associated with government agencies.
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OTHER SETS BY THIS CREATOR
Marketing Essentials - Ch 38
Marketing Essentials - Ch 37
Marketing Essentials - Ch 36
Marketing Essentials - Ch 35
THIS SET IS OFTEN IN FOLDERS WITH...
Marketing Essentials - Ch 2
Marketing Essentials - Ch 4
Marketing Essentials - Ch 12
Marketing Essentials - Ch 3