Marketing & Management Terms I
Terms
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- illustration
- the photograph, drawing, or other graphic elements used in an advertisement.
- inflation
- a period of rising prices.
- intermediaries
- businesses involved in sales transactions that move products from the manufacturer to the final user; also known as middlemen
- industrial market
- businesses that buy products to use in their operations; also called the business-to-business market (this can be abbreviated as b-to-b or b2b).
- imports
- goods and services purchased from other countries.
- indirect distribution
- sales of goods or services to the customer through one or more intermediaries.
- inventory management
- the process of buying and storing materials and products while controlling costs for ordering, shipping, handling, and storage.
- institutional advertising
- the process used to try to create a favorable image for a company and foster goodwill in the marketplace.
- infrastructure
- the physical development of a country, including its roads, ports, sanitation facilities, and utilities.
- inventory turnover
- the number of times the average inventory has been sold and replaced in a given period of time.
- insurance policy
- a contract between a business and and insurance company to cover a specific business risk.
- institutional promotion
- a promotion method used to create a favorable image for a business, help it advocate for change, or take a stand on trade or community issues.
- insulating
- a fabric finish that adds warmth or coolness.
- inventory
- all the goods stored by a business before they are sold.
- integrated distribution
- a distribution system in which manufacturers act as wholesaler and retailer for their own products.
- incentives
- products earned or given away through contests, sweepstakes, and rebates.
- internship
- an opportunity that offers students direct work experience and exposure to various aspects of a career, either with or without pay.
- interest
- the money paid for the use of money borrowed or invested.
- internet service providers (isps)
- companies that provide internet access for businesses, organizations, and individuals.
- income statement
- a summary of income and expenses during a specific period of time; also known as profit and loss statement.
- implied warranty
- a warranty that takes effect automatically by state law whenever a purchase is made.
- informal balance
- the placement of several small items with one large item within a display.
- internet
- a worldwide network of computer networks, allowing a free flow of information.
- insole
- the upper part of the sole of a shoe, to which the upper part of the shoe is attached.
- initiative
- the process of taking action and doing what needs to be done without being asked.
- invoice
- an itemized list of goods that includes prices, terms of sales, total, takes and fees, and amount due.
- industry
- a group of establishments primarily engaged in producing or handling the same product or group of products or in rendering the same services.
- installment accounts
- accounts that allow for payment over a period of time; also known as time payment accounts.
- intensive distribution
- sales involving the use of all suitable outlets to sell a product.