+
Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
|
Values
|
Core beliefs. See pages 172 and 468.
|
|
Vision
|
What the business might become. See pages 172 and 460.
|
|
Strategic intent
|
A strong underlying vision of what a company might become. See page 172.
|
|
Mission
|
The formal statement of business purpose - what the business aims to achieve and how it will achieve it. See page 173.
|
|
Values-based marketing(same as Marketing 3.0)
|
An approach to marketing based upon developing deep relationships with customers underpinned by shared values. See page 176.
|
|
Marketing 3.0(same as Values-based marketing)
|
An approach to marketing based upon developing deep relationships with customers underpinned by shared values. See page 176.
|
|
Corporate social responsibility (CSR)
|
The combination of business ethics, social responsibility and environmental sustainability. See page 182.
|
|
Going-rate price
|
The price charged by competitors for similar products or services. See page 189.
|
|
Cost+ pricing(same as Full-cost pricing)
|
This takes the total cost of producing a product or delivering a service and divides it by the predicted number of units to be sold, to arrive at the average cost to which a target mark-up is then added. See page 189.
|
|
Full-cost pricing(same as Cost+ pricing)
|
This takes the total cost of producing a product or delivering a service and divides it by the predicted number of units to be sold, to arrive at the average cost to which a target mark-up is then added. See page 189.
|
|
Variable cost
|
The cost of producing one additional unit. See page 189.
|
|
Fixed costs
|
The costs that do not alter when one additional unit is produced. See page 189.
|
|
Cross elasticity of demand
|
How demand reacts to changes in price. See page 190.
|
|
Contribution per unit
|
Sales price minus variable-cost. See page 190.
|
|
Contribution margin
|
Contribution per unit ÷ sales price (or total contribution ÷ turnover). See page 191.
|
