COMPLETE EXAM REVIEW Notes 市场营销Word文档下载推荐.docx

1、3. Capital: This includes machines, tools, buildings, or whatever else is used in the product of goods. It does not include money; is used to buy factors of production.4. Entrepreneurship: people and policies which promote new ventures5. Knowledge: a skilled and educated work forceInformation Techno

2、logy （IT）: Technology that helps companies change business by allowing them to use new methods.Economics: The study of how society chooses to employ resources to produce goods and services and distribute them for consumption among competing groups and individuals.Macroeconomics: The part of economic

3、s that looks at the operation of a nations economy as a whole. Microeconomics: The part of economics that looks at the behavior of people and organizations in a particular markets.Adam Smith: Wrote “Wealth of Nations” in 1776, where he put forward many of the ideas behind the modern free market econ

4、omic system known as Capitalism.Invisible hand: A phase coined by Adam Smith to describe the process that turns self-directed gain into social and economic benefits for all.Capitalism: An economic system in which all or most of the factors of production and distribution are privately owned and opera

5、ted for profit.Equilibrium Price: Where the demand and supply curves intersect.Market Price: The price determined by the demand and supply curves. Perfect Competition: The market situation in which there are many sellers in a market and no seller is large enough to dictate the price of the product.M

6、onopolistic Competition: The market situation in which a large number of sellers produces products that are very similar but that are perceived by buyers as different.Oligopoly: A form of competition in which just a few sellers dominate the market.Monopoly: A market in which there is only one seller

7、 for a product or service. Socialism: An economic system based on the premise that some, if not most, basic businesses should be owned by the government so that profits can be evenly distributed among the people.Mixed economy: Economic systems in which some allocation of resources is made by the mar

8、ket and some the government.Gross Domestic Product （GDP）: The total value of goods and services produced in a country in a given year.Productivity: The total output of goods and services in a given period divided by the total hours of labour required to provide them.The Unemployment Rate: The percen

9、tage of the total labour force that actively seeks work but is unable to find work at a given time.Inflation: A general rise in the prices of goods and services over time.Consumer price indexes （CPI）: Monthly statistics that measure the pace of inflation or deflation. The Business Cycle-Business cyc

10、le: The periodic rises and falls that occur in economies over time.Recession: Two or more consecutive quarters of decline in the GDP.Depression: A severe recession.Recovery: Occurs when economy stabilizes and starts to grow again.Balance of Trade: A nations ratio of exports to imports.Strategies For

11、 Reaching Global Markets-Exporting Is the easiest way to go international.-Licensing: A global strategy in which a firm （the licensor） allows a foreign company （the licensee） to produce its product in exchange for a fee （a royalty）.-Franchising: is an arrangement whereby someone is given the right t

12、o use a business name and sell a product or service within a given territory.-Contract Manufacturing: A foreign countrys production of private label goods to which a domestic company then attaches its brand name or trademark; also called outsourcing.-Joint Venture: A partnership in which two or more

13、 companies （often from different countries） join to undertake a major project.-Strategic Alliance: A long-term partnership between two or more companies established to help each company build competitive market advantage.-Foreign Direct Investment: The buying of permanent property and businesses in

14、foreign nations.-Foreign Subsidiary: A company owned in a foreign country by another company （called the parent company）.-Multi National Corporation: An organization that manufactures and markets products in many different countries and has multi national stock ownership and multinational management

15、.Forces Effecting GlobalizationCulture: The set of values, beliefs, rules, and institutions held by a specific group of people.Ethnocentricity: An attitude that ones own culture is superior to all others.Exchange Rate: The value of one nations currency relative to the currencies of other countries.W

16、orld Trade Organization （WTO）: The international organization that replaced the General Agreement on Tariffs and Trade, and was assigned the duty to mediate trade disputes among nations.The IMF and The World BankInternational Monetary Fund （IMF）: An international bank that makes short-term loans to

17、countries experiencing problems with their balance of trade.World Bank: An autonomous United Nations agency that borrows money from the more prosperous countries and lends it to the less-developed countries to develop their infrastructure.Sole Proprietorship: A business that is owned, and usually ma

18、naged, by one person.Advantages of Sole Proprietorships;1. Ease of starting and ending the business2. Being your own boss3. Pride of Ownership4. Leaving a legacy5. Retention of ownership profits6. No special taxesDisadvantages of Sole Proprietorships;1. Unlimited Liability2. Limited Financial Resour

19、ces3. Management Difficulties4. Overwhelming Time Commitment5. Few fringe benefits6. Limited Growth7. Limited LifespanPartnerships: A legal form of business with two or more owners.General Partnership: A partnership in which all owners share in the operating the business and in assuming liability fo

20、r the businesses debts.Limited Partnership: A partnership with one or more general partners and one or more limited partners. General Partner: An owner who has unlimited liability and is active in managing the firm.Limited Partner: An owner who invests money in the business but does not have any man

21、agement responsibility or liability for losses beyond the investment.Limited Liability: The responsibility of a businesses owners for losses up to the amount they invested; limited partners and shareholders have limited liability.Partnership Agreements: Legal document that specifies the rights and t

22、he responsibilities of each partner.Advantages of Partnerships1. More Financial Resources2. Shared management and skill set3. Longer Survival4. Shared Risk5. No special taxesDisadvantages of Partnerships2. Division of Profits3. Disagreements among partners4. Difficult to terminateCorporations Corpor

23、ations: A legal entity with authority to act and have liability separate from its owners.Public Corporation: Corporation that has the right to issue shares to the public, so its shares may be listed on a stock exchange.Advantages of Corporations1. Limited liability2. More money to invest3. Size4. Pe

24、rpetual Life5. Ease of ownership change6. Ease of drawing talented employees7. Separation of ownership from managementDisadvantages of Corporations1. Extensive paperwork2. Double taxation3. Two tax returns4. Size5. Difficulty of termination6. Possible conflicts with stockholders and Board of Directo

25、rs7. Initial costFranchise: The right to use a specific businesss name and sell its goods or services in a given territory.Franchise Agreement: An arrangement whereby someone with a good idea for a business sells the rights to use the business name and sell its products in a given territory. Accepti

26、ng the challenge of starting and running a business.Why People Become Entrepreneurs1. New Idea, process, or product2. Independence3. Challenge4. Family Pattern5. Profit 6. ImmigrantWhat does it take? Must be.1. Self-directed2. Determined3. Action-oriented4. Highly energetic5. Tolerant of uncertainty

27、6. Able to learn quicklyEntrepreneurial Teams: A group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop, make, and market a new product.Small Business: A business that is independently owned and operated, is not domi

28、nant in its field, and meets certain standards of size in terms of employees or annual revenue.Causes of Small Business Failure- poor market research- no test marketing- under pricing and or overpricing- underestimating time it will take to build market share- to little startup capital- to much debt

29、- not understanding the business cycle- poor time management- poor financial managementIncreasing the chance for business success- Customers require a lot of personal attention- In growth industry- Good marketing management- Good financial managementBusiness Plan:1. Cover Letter2. Executive Summary3. Company Background4. Managem