COMPLETE EXAM REVIEW Notes 市场营销Word文档下载推荐.docx
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COMPLETE EXAM REVIEW Notes 市场营销Word文档下载推荐.docx
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3.Capital:
Thisincludesmachines,tools,buildings,orwhateverelseisusedintheproductofgoods.Itdoesnotincludemoney;
isusedtobuyfactorsofproduction.
4.Entrepreneurship:
peopleandpolicieswhichpromotenewventures
5.Knowledge:
askilledandeducatedworkforce
InformationTechnology(IT):
Technologythathelpscompanieschangebusinessbyallowingthemtousenewmethods.
Economics:
Thestudyofhowsocietychoosestoemployresourcestoproducegoodsandservicesanddistributethemforconsumptionamongcompetinggroupsandindividuals.
Macroeconomics:
Thepartofeconomicsthatlooksattheoperationofanation’seconomyasawhole.
Microeconomics:
Thepartofeconomicsthatlooksatthebehaviorofpeopleandorganizationsinaparticularmarkets.
AdamSmith:
Wrote“WealthofNations”in1776,whereheputforwardmanyoftheideasbehindthemodernfreemarketeconomicsystemknownasCapitalism.
Invisiblehand:
AphasecoinedbyAdamSmithtodescribetheprocessthatturnsself-directedgainintosocialandeconomicbenefitsforall.
Capitalism:
Aneconomicsysteminwhichallormostofthefactorsofproductionanddistributionareprivatelyownedandoperatedforprofit.
EquilibriumPrice:
Wherethedemandandsupplycurvesintersect.
MarketPrice:
Thepricedeterminedbythedemandandsupplycurves.
PerfectCompetition:
Themarketsituationinwhichtherearemanysellersinamarketandnosellerislargeenoughtodictatethepriceoftheproduct.
MonopolisticCompetition:
Themarketsituationinwhichalargenumberofsellersproducesproductsthatareverysimilarbutthatareperceivedbybuyersasdifferent.
Oligopoly:
Aformofcompetitioninwhichjustafewsellersdominatethemarket.
Monopoly:
Amarketinwhichthereisonlyonesellerforaproductorservice.
Socialism:
Aneconomicsystembasedonthepremisethatsome,ifnotmost,basicbusinessesshouldbeownedbythegovernmentsothatprofitscanbeevenlydistributedamongthepeople.
Mixedeconomy:
Economicsystemsinwhichsomeallocationofresourcesismadebythemarketandsomethegovernment.
GrossDomesticProduct(GDP):
Thetotalvalueofgoodsandservicesproducedinacountryinagivenyear.
Productivity:
Thetotaloutputofgoodsandservicesinagivenperioddividedbythetotalhoursoflabourrequiredtoprovidethem.
TheUnemploymentRate:
Thepercentageofthetotallabourforcethatactivelyseeksworkbutisunabletofindworkatagiventime.
Inflation:
Ageneralriseinthepricesofgoodsandservicesovertime.
Consumerpriceindexes(CPI):
Monthlystatisticsthatmeasurethepaceofinflationordeflation.
TheBusinessCycle---
Businesscycle:
Theperiodicrisesandfallsthatoccurineconomiesovertime.
Recession:
TwoormoreconsecutivequartersofdeclineintheGDP.
Depression:
Asevererecession.
Recovery:
Occurswheneconomystabilizesandstartstogrowagain.
BalanceofTrade:
Anation’sratioofexportstoimports.
StrategiesForReachingGlobalMarkets
-Exporting
Istheeasiestwaytogointernational.
-Licensing:
Aglobalstrategyinwhichafirm(thelicensor)allowsaforeigncompany(thelicensee)toproduceitsproductinexchangeforafee(aroyalty).
-Franchising:
isanarrangementwherebysomeoneisgiventherighttouseabusinessnameandsellaproductorservicewithinagiventerritory.
-ContractManufacturing:
Aforeigncountry’sproductionofprivatelabelgoodstowhichadomesticcompanythenattachesitsbrandnameortrademark;
alsocalledoutsourcing.
-JointVenture:
Apartnershipinwhichtwoormorecompanies(oftenfromdifferentcountries)jointoundertakeamajorproject.
-StrategicAlliance:
Along-termpartnershipbetweentwoormorecompaniesestablishedtohelpeachcompanybuildcompetitivemarketadvantage.
-ForeignDirectInvestment:
Thebuyingofpermanentpropertyandbusinessesinforeignnations.
-ForeignSubsidiary:
Acompanyownedinaforeigncountrybyanothercompany(calledtheparentcompany).
-MultiNationalCorporation:
Anorganizationthatmanufacturesandmarketsproductsinmanydifferentcountriesandhasmultinationalstockownershipandmultinationalmanagement.
ForcesEffectingGlobalization
Culture:
Thesetofvalues,beliefs,rules,andinstitutionsheldbyaspecificgroupofpeople.
Ethnocentricity:
Anattitudethatone’sowncultureissuperiortoallothers.
ExchangeRate:
Thevalueofonenation’scurrencyrelativetothecurrenciesofothercountries.
WorldTradeOrganization(WTO):
TheinternationalorganizationthatreplacedtheGeneralAgreementonTariffsandTrade,andwasassignedthedutytomediatetradedisputesamongnations.
TheIMFandTheWorldBank
InternationalMonetaryFund(IMF):
Aninternationalbankthatmakesshort-termloanstocountriesexperiencingproblemswiththeirbalanceoftrade.
WorldBank:
AnautonomousUnitedNationsagencythatborrowsmoneyfromthemoreprosperouscountriesandlendsittotheless-developedcountriestodeveloptheirinfrastructure.
SoleProprietorship:
Abusinessthatisowned,andusuallymanaged,byoneperson.
AdvantagesofSoleProprietorships;
1.Easeofstartingandendingthebusiness
2.Beingyourownboss
3.PrideofOwnership
4.Leavingalegacy
5.Retentionofownershipprofits
6.Nospecialtaxes
DisadvantagesofSoleProprietorships;
1.UnlimitedLiability
2.LimitedFinancialResources
3.ManagementDifficulties
4.OverwhelmingTimeCommitment
5.Fewfringebenefits
6.LimitedGrowth
7.LimitedLifespan
Partnerships:
Alegalformofbusinesswithtwoormoreowners.
GeneralPartnership:
Apartnershipinwhichallownersshareintheoperatingthebusinessandinassumingliabilityforthebusinessesdebts.
LimitedPartnership:
Apartnershipwithoneormoregeneralpartnersandoneormorelimitedpartners.
GeneralPartner:
Anownerwhohasunlimitedliabilityandisactiveinmanagingthefirm.
LimitedPartner:
Anownerwhoinvestsmoneyinthebusinessbutdoesnothaveanymanagementresponsibilityorliabilityforlossesbeyondtheinvestment.
LimitedLiability:
Theresponsibilityofabusinessesownersforlossesuptotheamounttheyinvested;
limitedpartnersandshareholdershavelimitedliability.
PartnershipAgreements:
Legaldocumentthatspecifiestherightsandtheresponsibilitiesofeachpartner.
AdvantagesofPartnerships
1.MoreFinancialResources
2.Sharedmanagementandskillset
3.LongerSurvival
4.SharedRisk
5.Nospecialtaxes
DisadvantagesofPartnerships
2.DivisionofProfits
3.Disagreementsamongpartners
4.Difficulttoterminate
Corporations
Corporations:
Alegalentitywithauthoritytoactandhaveliabilityseparatefromit’sowners.
PublicCorporation:
Corporationthathastherighttoissuesharestothepublic,soit’ssharesmaybelistedonastockexchange.
AdvantagesofCorporations
1.Limitedliability
2.Moremoneytoinvest
3.Size
4.PerpetualLife
5.Easeofownershipchange
6.Easeofdrawingtalentedemployees
7.Separationofownershipfrommanagement
DisadvantagesofCorporations
1.Extensivepaperwork
2.Doubletaxation
3.Twotaxreturns
4.Size
5.Difficultyoftermination
6.PossibleconflictswithstockholdersandBoardofDirectors
7.Initialcost
Franchise:
Therighttouseaspecificbusiness’snameandsellit’sgoodsorservicesinagiventerritory.
FranchiseAgreement:
Anarrangementwherebysomeonewithagoodideaforabusinesssellstherightstousethebusinessnameandsellitsproductsinagiventerritory.
Acceptingthechallengeofstartingandrunningabusiness.
WhyPeopleBecomeEntrepreneurs
1.NewIdea,process,orproduct
2.Independence
3.Challenge
4.FamilyPattern
5.Profit
6.Immigrant
Whatdoesittake?
Mustbe…..
1.Self-directed
2.Determined
3.Action-oriented
4.Highlyenergetic
5.Tolerantofuncertainty
6.Abletolearnquickly
EntrepreneurialTeams:
Agroupofexperiencedpeoplefromdifferentareasofbusinesswhojointogethertoformamanagerialteamwiththeskillsneededtodevelop,make,andmarketanewproduct.
SmallBusiness:
Abusinessthatisindependentlyownedandoperated,isnotdominantinitsfield,andmeetscertainstandardsofsizeintermsofemployeesorannualrevenue.
CausesofSmallBusinessFailure
-poormarketresearch
-notestmarketing
-underpricingandoroverpricing
-underestimatingtimeitwilltaketobuildmarketshare
-tolittlestartupcapital
-tomuchdebt
-notunderstandingthebusinesscycle
-poortimemanagement
-poorfinancialmanagement
Increasingthechanceforbusinesssuccess
-Customersrequirealotofpersonalattention
-Ingrowthindustry
-Goodmarketingmanagement
-Goodfinancialmanagement
BusinessPlan:
1.CoverLetter
2.ExecutiveSummary
3.CompanyBackground
4.Managem
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