World of Business Final Exam Study Guide

World of Business Final Exam Study Guide - World of...

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World of Business Final Exam Study Guide 360 Degree Review 401K A savings plan that allows you to deposit pretax dollars and whose earnings compound tax free until withdrawal, when the money is taxed at ordinary income tax rates (684) Abraham Maslow Had a theory of motivation based on unmet human needs from basic physiological needs to safety, social, and esteem needs to self-actualization needs (303) Accountant’s Duties Accounting The recording, classifying, summarizing, and interpreting of financial events and transactions to provide management and other interested parties the information they need to make good decisions (548) Advertising Expenditures Affirmative Action Employment activities designed to “right past wrongs” by increasing opportunities for minorities and women (353) Annual Report A yearly statement of the financial condition, progress, and expectations of an organization (550) Benefit Segmentation Dividing the market by determining which benefits of the product to talk about (412) Bookkeeping The recording of business transactions (553)
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Brand A name, symbol, or design (or combination thereof) that identifies the goods or services of one seller or group of sellers and distinguishes them form the goods ans services of competitors (438) Brand Loyalty The degree to which customers are satisfied, like the brand, and are committed to further purchase (439) Brand Name The part of the brand consisting of a word, letter, or group of words or letters comprising a name that differentiates a seller’s goods or services from those of competitors (403) Break-even Analysis The process used to determine profitability at various levels of sales (449) Broker Marketing intermediaries who bring buyers and sellers together and assist in negotiating an exchange but don’t take title to the goods (460) Cafeteria-style Benefit Plan Fringe benefits plan that allows employees to choose the benefits they want up to a certain dollar amount (346) Cashless Bonus Category Killer Store Sells a huge variety of the same type of product in order to dominate that category of goods (469) Certified Public Accountant An accountant who passes a series of examinations established by the American Institute of Certified Public Accountants (550) Channel of Distribution A whole set of marketing intermediaries, such as wholesalers and retailers that join together to transport and store goods in their path (or channel) from producers to consumers (460) Coaching
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Commission Pay Pay based on some percentage of sales, often used to compensate salespeople, commission plans resemble piecework systems (345) Competitive Benchmarking Compressed Workweek Work schedule that allows an employee to work a full number of hours per week but in fewer days (349) Concept Testing Taking a product idea to consumers to test their reactions (442) Products that the consumer wants to purchase frequently and with a minimum of effort (434) Copyright A document that protects a creator’s rights to materials such as books, articles, photos,
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World of Business Final Exam Study Guide - World of...

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