Bus.3.1

11 flashcards · Other · by Michael Katsikas

1. Brand

   a name, symbol or logo that identifies or differentiates the product or business in the eyes of the consumers

2. Could be measured by an increase in volume or value of output

   Business growth

3. Business strategies

   Strategies which can be used by a business to give a competitive advantage over its competitors

4. Competitive advantage

   A set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition

5. Company growth

   The expansion of a business through increased sales, market share, distribution, product range, or customer base

6. A business that consists of different types of businesses which are unrelated to each other but part of the whole group

   Conglomerate

7. Groups who attempt to influence decisions in order to achieve a declared objective

   Pressure groups

8. Businesses which buy in bulk from a manufacturer or other supplier and then sell stock on in smaller quantities to retailers

   Wholeselers

9. Research and development

   The process of scientific and technological research and then development of the findings of that research before a product is launched

10. Chain of command

    The path (or chain) down which orders (or commands) are passed. In a company, this goes from the Board of Directors down to other workers in the organisation.

11. A named product which consumers see as being different from other products and which they can associate and identify with

    Brand