Half time business homwork

Market mapping:selecting the key variables that differentiate the brands within a market and then plotting the position of each one

Market segmentation: analyse the market the identify different types of consumers

Brand positioning: The distinctive position that a brand adopts in its competitive environment to ensure that individuals in its target market can tell the brand apart from others.


Advertising elasticity:measures the extend to which change in ADspending affect demand (%change in demand /% change in ADspending)

Cash flow: the difference between incashflow and outcashflow

Loss leader:product sold at less than cost to attract consumer to a product range

Adverse variance: this is a change from a budgeted figure that leads to lower than expected profit

Net profit margin: net profit which is a percentage of the sales revenue

Organisation structure:the relationship between different people and functions within an organisation

Off the job training:away from the place of work

On the job training:learning by doing the job

Person specification:which kind of person the company will employ

Induction:is an introductory training programme designed to familiarise new recruits

Empowering employees:person who has the power to do the job

Job enrichment:is where the job is expanded vertically by giving the worker more responsibility

Job enlargement:expanding the number of tasks completed by an employee

Capacity utilisation:is the percentage of a firm`s total possible production level that is being reached

Rationalisation:reorganising resources to cut costs

Quality control:this is based on inspection of the product or a sample of products

Quality assurance:this is a system of agreeing and meeting quality standards at each stage of production to ensure consumer satisfaction

Productivity:output per person per a period of time

Product portfolio analysis:analysing the existing product mix to help develop a balanced range of goods and services

Price taker:a firm which sets its prices at the same or similar level to those of the dominant firm in the industry