1. What is business?
Business is the production, distribution, and sale of goods and services for a profit.
2. Traditional definition of business?
Traditionally business meant exchange or trade for things that people wanted or needed.
3. What is production?
Production is creation of services or the changing of materials into products.
4. What is distribution?
Distribution is activity of moving goods the factory to the marketplace.
5. What is sale?
Sale is exchange of goods and services for money.
6. What are goods?
Goods are products which people either need or want.
7. What are services?
Services are activities which a person or group performs for another person or organization.
8. What is profit?
Profit is the money that remains after all expenses are paid.
9. What is marketing?
Marketing can be defined as a process of management, the result of which is anticipation, recognition, influencing and satisfaction of the customer’s needs and wishes in an efficient and advantageous way. (Haos od definicije, ali tako je) o.O
10. What does it consist of?
-Market research
-Product planning
-Distribution of goods
-Advertising and sales promotion
-Selling goods
11. Name marketing functions?
-To evaluate
-To convert customer purchasing power
-To make customers buy a specific product or service
12. Difference between marketing and selling?
Marketing represents something more than merely a sale. It presupposes a feedback between the market and the producer, a two-way communication system between them. Selling is just an activity of exchanging goods and services for money.
13. What is marketing mix?
Marketing mix is combination of four P’s (price, product, placement and promotion).
14. What is selling?
Selling is just and activity of exchanging goods and services for money.
15. Name important questions about marketing?
16. What is target market?
The group of customers or consumers who will probably buy the product (is known as the target market)
.
17. What is segment?
Segment is a part of the market which:
-encompasses customers with similar needs and wishes
-is sufficiently large
-can be easily identified
18. What is potential market?
A potential market is the market which includes any subject that shows some interest in the goods offered.
19. What is qualified available market?
A qualified available market is the market which groups together consumers who are not subject to any additional restrictions.
20. What is available market?
An available market is the market which consists of subjects that are not only interested in the product but are also able to pay the market price for it.
21. What is marketing?
(Vec odogovoreno u 9. pitanju)
22. Define elements of the four P's?
-Price
-Product
-Placement
-Promotion
23. What is the product?
The product is good or service that a company wants to sell.
24. Name activities about the product?
Activities are: Research and development of a new product, research of the potential market, testing of the product to insure quality, and introduction to the market.
25. Name the pricing options?
Pricing options are: Above, with and below the prices that its competitors are charging.
26. Who is the price leader?
Producers who establish average market prices are price leaders.
27. Define placement of goods and services?
Placement involves getting the product to the customer.
28. What is the common channel of distribution?
CCD is manufacturer – wholesaler – retailer – customer.
29. Wholesale?
Wholesale is selling the large quantities of products to retailers.
30. Promotion?
Promotion is communication between buyer and seller.
31. Retail?
Retailing is selling small quantities of products to customers.
32. Two ways of promoting the product?
-Trough personal selling
-Trough advertising
33. What is marketing mix?
(Odgovoreno u 13. Pitanju)
34. Target market?
(Odgovoreno u 16. Pitanju)
35. Targeted marketing?
Targeted marketing is a practical marketing activity carried out in defined market segments.
36. Forms of targeted marketing?
-Concentrated marketing
-Differentiated marketing
37. Concentrated marketing?
Is the firm’s specialization in one or two segments and the creation of just one specialized marketing mix.
38. Differentiated marketing?
Differentiated marketing presupposes that the firm takes into account the significant segments and elaborates a specialized mix for each of them.
39. Variables in marketing segmentation?
-Demographic
-Geographic
-Behavioral
-Psychographic
40. Geographic, demographic, behavioral and psychographic elements?
-Demographic: age, sex, occupation, education, disposable income.
-Geographic: location, city, region.
-Behavioral: places, and buying methods preferred by purchasers quantities of goods bought.
-Psychographic: attitudes, beliefs and perceptions.
41. One advantage of marketing segmentation?
-Better satisfaction of customer needs (postoje jos 3, ja sam rekao najlaksu)
42. What is international trade?
Exchange of goods and services in the world or global market – is known as international trade.
43. Name the main benefits of international trade and describe one?
1st-IT makes scarce goods available to nations that need or desire them – (Explanation: When a nation lacks the resources needed to produce goods domestically, it may import them from another country.
2nd-IT allows a nation to specialize in production of those goods for which its particularly suited.
3rd-IT is its political benefits.
44. What are multinational corporations?
Multinational corporation is a business concern with operations in more then one country.
45. The role of the multinational corp. in the modern business world?
In more recent times, multinational corporations have grown in power and visibility, but have come to be viewed more ambivalently by both governments and consumers worldwide.
46. Name at least five multinational corp.?
Coca-cola, Samsung, Nokia, Audi, Mercedes, etc…
47. Which are the constraints that multinational corporations are bound by (tako nesto)?
(Ne razumem pitanje I nznm odgovor…) =D
48. What is a computer?
Comp is electronic machine that can draw graphics, set up your modem, and perform many other tasks to solve problems in short period of time. (Ovo je skracena definicija, kome se ne svidja neka uci duzu) =P
49. What are the two main elements of any computer system?
-Software
-Hardware
50. What do they refer to?
-Hardware refers to physical equipment. (machinery and electronic components)
-Software refers to the programs and procedures.
51. What is data processing?
InputàStorage and/or manipulationàOutput (combination of those 3 elements is known as data processing)
52. What are the functions of the hardware?
-Input
-Storage/manipulation
-Output
53. What is input?
Input is properly prepared piece of information known as data that is put into the computer.
54. What is output?
Output is the result that is made available to the users.
55. What is storage manipulation?
It’s a phase that input are put away for future use (storage) or handled for specific manipulation.
56. What is a program?
A program is a detailed set of instructions that tell the computer what to do, and how to do it, and the proper sequence of steps to follow.
57. What is the role of computers in business?
The role of computers is business is to make companies work easier, to help about inventory control, processing, communication, design, advertising, analysis, etc…
58. Finance?
Finance involves securing of funds for all phases of business operations.
59. Financial management?
FM is a process of managing acquired capital.
60. Two basic types of financing?
Long-term financing, and short-term financing
61. Share?
62. Dividend?
Stock revenue
63. Shareholder/stockholder?
64. Bond?
65. Capital?
The money needed to start and continue operating a business.
66. 2 ways that capital can be invested?
67. 2 types of capital and explain?
-Short-term capital – it is used to pay for items that last relatively short period of time.
-Long-term capital – it is used to pay for items that last for a long period of time.
(Detaljnije objasnjeno na str. 32 u trecem pasusu…)
68. What is cash flow?
Refers to financial wealth which is used to start or maintain business is known as Cash flow.
69. Types of assets and explain?
-Current assets – Cash, accounts receivable, and inventories are all CA.
-Fixed assets – Property, buildings, and equipment make up the fixed assets of a company
70. Define types of liabilities and explain?
-Current liabilities – such as accounts payable and income taxes payable.
-Long-term liabilities – such as bonds and long-term notes.
71. Types of financial statements and exp?
-Balance sheet – Shows firm’s condition on the last day of the accounting period.
-The operations statement – Is also referred to profit and loss statement or an income and expense statement. (Shows how much profit or loss was generated by the operations of the company)
72. Balance sheet?
BS is shows the financial position of a company at one point in time.
73. Income statement?
IS shows the financial performance of a company over a period of time.
74. Management as process and as a team?
Management as process means the act of getting people together to accomplish desired goals.
Management as a team refers to the people who carry out th efunctions of management.
75. Name management functions?
-Planning
-Organizing
-Directing
-Controlling
76. Planning?
Involves determining overall company objectives and deciding how these goals can best be achieved. It is first management function and all other functions depend on it.
77. Organizing?
The second management function is the process of putting the plan into action. Managers decide on the positions to be created and determine the associated duties and responsibilities. Staffing, choosing the right person for the job…
78. Directing?
Managers guide, teach and motivate workers so they reach their potential abilities and at the same time achieve the company goals that were established in the planning process.
79. Controlling?
The last management function. Managers evaluate how well company objectives are being met.
80. Qualities of an efficient manager?
Combination of planning, organizing, directing and controlling.
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