Business Dictionary

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An alphabetical listing of General terms and items.

Ma And Pa Shop   Dico Tools
A small family-run business.

Macroeconomics   Dico Tools
the branch of economics that studies national income and the economic systems of national economies.

Mail Order   Dico Tools
A form of retailing in which consumers order products from a catalogue for delivery to their home.

Management   Dico Tools
The use of professional skills for identifying and achieving organizational objectives through the deployment of appropriate resources. The art of conducting and supervising a business.

Market   Dico Tools
A set of potential or real buyers or a place in which there is a demand for products or services. Actual or potential buyers of a product or service.

Market Analysis   Dico Tools
The study of a market to identify and quantify business opportunities.

Market Demand   Dico Tools
Total volume purchased in a specific geographic area by a specific customer group in a specified time period under a specified marketing program.

Market Development   Dico Tools
Marketing activities designed to increase the overall size of a market through education and awareness.

Market Forecast   Dico Tools
An anticipated demand that results from a planned marketing expenditure.

Market Life Cycle   Dico Tools
The period of time that a substantial segment of the buying public is interested in purchasing a given product or service form.

Market Niche   Dico Tools
A well-defined group of customers for which what you have to offer is particularly suitable.

Market Penetration Pricing Strategy   Dico Tools
If near term income is not critical and rapid market penetration for eventual market control is desired, then you set your prices very low.

Market Positioning   Dico Tools
Finding a market niche that emphasizes the strengths of a product or service in relation to the weaknesses of the competition.

Market Share   Dico Tools
A company's percentage share of total sales within a given market.

Market Targeting   Dico Tools
Choosing a marketing strategy in terms of competi tive strengths and marketplace realities.

Marketable   Dico Tools
Possessing the potential to be commercially viable.

Marketing   Dico Tools
One of the main management disciplines, encompassing all the strategic planning, operations, activities, and processes involved in achieving organizational objectives by delivering value to customers. Marketing management focuses on satisfying customer requirements by identifying needs and wants.

Marketing Mix   Dico Tools
The set of product, place, promotion, price and pack aging variables, which a marketing manager controls and orchestrates to bring a product or service into the marketplace.

Marketing Research   Dico Tools
The systematic design, collection, analysis and reporting of data regarding a specific marketing situation.

Markup   Dico Tools
The difference between the cost of a product or service and its selling price.

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Marxism   Dico Tools
Developed by Karl Marx and Friedrich Engels in the 19th century, Marxism refers to the idea that all evolving economies ultimately take the same course: Feudalism to capitalism and eventually ending up as a socialist or communist environment where economic and social classes no longer exist.

Mass Marketing   Dico Tools
Selecting and developing a single offering for an entire market.

Material Goods   Dico Tools
Normally raw or processed materials such as coal or steel that will become part of the purchaser's end product.

Merchandise   Dico Tools
Goods bought and sold in a business. "Merchandise" or stock is a part of inventory.

Microbusiness   Dico Tools
An owner-operated business with few employees and less than $250,000 in annual sales.

Micromarketing   Dico Tools
Marketing to individuals or very small groups.

Middleman   Dico Tools
A person or company that performs functions or renders services involved in the purchase and/or sale of goods in their flow from producer to consumer.

Millionaire   Dico Tools
Is an individual whose net worth is equivalent to or greater than one million dollars or one million British pounds. Individuals who quantify their worth in other currencies qualify as millionaires based on the exchange rate and their estimated value in dollars or pounds.

Mitigation Of Global Warming   Dico Tools
Mitigation of Global Warming refers to the actions taken by individuals or corporations to reduce the greenhouse gas emissions in order to minimize their effects on global climate change.

Monetary Reserve   Dico Tools
Monetary Reserve: A nation's assets in foreign currency and/or commodities like gold and silver, which are used to back up the national currency. Monetary reserves also provide a cushion for executing central banking functions like adding to the money supply and settling foreign exchange contracts in local currencies. 

Mortgage Loans   Dico Tools
Is a loan used to purchase property, often referred to as a mortgage or a home loan.

Multilevel Sales   Dico Tools
Also known as network marketing. Rather than hiring sales staff, multilevel sales companies sell their products through thou sands of independent distributors. Multilevel sales companies offer dis tributors commissions on both retail sales and the sales of their "down-line" (the network of other distributors they sponsor).

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