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Glossary of Business Unit II

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4 kinds of businesses
marketers, service, extractors, manufacturers
3 types of manufacturing
custom, processing, mass
7 activities businesses perform
get ideas, raise capital, buying goods, human resources, market, produce goods, keep records
managers are responsible for coordinating:
capital, human, natural
5 things managers focus on
planning, organizing, staffing, leading, controlling
3 business organizations
franchise, cooperatives, nonprofit corporations
5 ways of leadership
understanding, judgement, confidence, honesty, courage
5 relationship skills
self understnding, understanding others, communications,team building, job satisfaction
5 kinds of influence skills
position, reward, expert, identity,formal vs informal
kinds of leadership characteristics
strategic, mixed, tactical
4 marketing elements or the 4 P's
PRODUCT, place, price, promotion
8 marketing functions for and exchange to occur
buying, selling, transporting, storing, financing, researching, insuring, pricing
4 important differences that have to be considered in developing an effective channel of distribution
quantity, assortment, location, the time
steps to be an effective seller
preapproach, approach, demonstration, questioning, close, follow-up

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