MGMT 1000 Study Guide - Final Guide: Swot Analysis, Hippocratic Oath, Megaphone
23 Jan 2017
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Intro to business mgmt*1000 (tucker) final review. Commerce: exchange between people of the products of nature or art; buying and selling together; trade/trading exchange of $ for goods and services. Business: trade and all activity relating to it, especially considered in terms of volume or profitability; commercial transactions. Management: (cid:498)organization, supervision or direction; the application of skill or care in manipulation, use, treatment, or control of something(cid:499) A business model describes the rationale of how an organization creates, delivers and captures value. **business model canvas reflects the values of society** Four p(cid:495)s of marketing mix: price, product, price, place, and promotion. Customer segments: groups of people aimed to reach/serve. Mass market: focusing on one large group of customers with broadly similar needs and problems (e. g. consumer electronics sector) Niche market: cater to specific, specialized customer segments (e. g. car part manufacturers) Segmented: distinguish between market segments with slightly different needs and problems (e. g. credit suisse has many customers, some more affluent)
