Key Terms Outcome 1 and Outcome 2

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Across
  1. 4. A _____________ market is a group of customers with similar characteristics who currently purchase the product or may do so in the future (6).
  2. 5. The distance of the business to its supplier (9)
  3. 9. An _________ facility allows a business to withdraw more money form their bank account then they have available (9)
  4. 11. _____________ is the process of researching and selecting suppliers, establishing payment terms, negotiating contracts and the purchasing of resources that are vital for maintaining the production of the business’s good or service (11).
  5. 12. A written set of broad guidelines to be followed by all employees when dealing with important areas of decision making (6)
  6. 13. A ________ communication plan outlines the policies and procedures to follow when handling unfavourable publicity. (6)
  7. 14. The separate ______ principle states that we should always record the transactions of the business and its owners separately. (6)
  8. 16. A set of actions or steps that enable a policy to be put into action (9)
  9. 17. A product’s _______ cycle consists of the phases a product passes through: innovation, introduction, growth, maturity and decline (4).
  10. 19. Occurs when businesses vary their range of products or their field of operations (15)
  11. 21. The website address of a business is its _______ name. (6)
  12. 22. Price _________ occurs where two businesses in competition with each other agree to set identical prices for their products (6)
Down
  1. 1. _______ share refers to the business’s share of the total industry sales for a particular market. (6).
  2. 2. Businesses can develop ________ databases to keep track of existing and potential customers (8).
  3. 3. ______________ describes the methods used by a business to inform, persuade and remind a target market about its products (9).
  4. 6. A stage in the product lifecycle. Instead of going into the decline stage, some products can be revived and begin a new cycle of growth and eventual maturity. (9).
  5. 7. Market ________ occurs when the total market is subdivided into groups who share one or more common characteristics. (12)
  6. 8. A _________ normally consists of two sections, with cash receipts recorded on the left hand side and cash payments recorded on the right (4,4)
  7. 9. making a profit, growing the business and increasing market share are examples of business _________ (10)
  8. 10. A type of insurance that businesses take out in case of workplace injuries (9)
  9. 15. selling involves the activities of a sales representative directed to a customer in an attempt to make a sale (8).
  10. 18. The money being transferred into and going out of the business is referred to as _______ flow (4)
  11. 20. ___________ distribution occurs where business wishes to saturate the market with its product. A product distributed this way is available in a large proportion of possible stores (9)