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Circumstances at the time of the loan request

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Circumstances at the time of the loan request, including potential for growth, amount of competition, location, form of ownership, & insurance Consumer pretest Procedure in which a panel of consumers evaluate an ad before its release Contingency fund Extra money that is saved & used only when absolutely necessary, such as for unforeseen biz expenses Cooperative advertising An arrangement in which advertising costs are divided between 2 or more parties Corporate venture A new venture started inside a larger corporation
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Disposable income Money people have to spend after paying for necessary expenses Diversification Process of investing in products/biz w/ which an existing biz is not currently involved Due diligence Investigation & analysis a prudent investigator does before making biz decisions Elastic demand Situations in which a change in price creates a change in demand Emotional buying motive Feeling a buyer associates w/ a product, such as recognition or prestige Employee complaint procedure Formal procedure for handling employee complaints, usually in writing & distributed to employees Employee stock option plan (ESOP) Source of financing in which a company gives its employees the opportunity to buy a portion of the biz; to raise money w/ an ESOP, a biz must have at least 25 employees & revenues of $5 million Exclusive distribution Placement of a product where its # of sales outlets are limited to one per area Exploratory research Initial collection & analysis of info used when very little is known about a subject; it forms a foundation for later research
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