Marketing Terminology

Study Notes

A constraint is a factor that limits or restricts something.
A consumer is a person who buys products and/or services.
Consumer confidence refers to people's confidence in the economy, making them willing to spend money.

A core activity is the main or most important thing that an organisation does.
Cost-cutting involves trying to reduce the amount of money spent by a business.
Delegation involves giving responsibility to someone at a lower level in the hierarchy to enable them to take decisions.

A credit card is a bank card that you can use to buy goods and services and pay for them later.
A debit card is a bank card that can be used to take money directly from your bank account when you pay for something.
A deficit is the amount by which money spent or owed is greater than money earned in a particular period of time.
Disposable income is income remaining after deduction of taxes and social security charges, available to be spent or saved as one wishes.
Diversification involves developing a wider range of products, interests, skills in order to be more successful or reduce risk.

Downsizing involves reducing the number of employees.
Downturn is the part of the economic cycle when prices or the value of stocks, shares, etc. fall.
E-commerce is business that is conducted on the internet.
Endorsements involve a statement made in an advertisement, usually by somebody famous or important, saying that they use and like a particular product.

An entrepreneur is someone who starts a company, arranges business deals and takes risks.
Equity is the capital that a company has from shares rather than from loans.
Executive is a person who has an important job as a manager of a company or organisation.
Export growth is an increase in the number of goods sold to other countries.

Fair trade is a movement which promotes fairer trading conditions for developing countries.
A feature is an important part of something.
Gap in the market is a business opportunity to make or sell something that is not yet available.

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