INTERNET MARKETING

INTERNET MARKETING

INTERNET MARKETING

 

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GDP Growth:   2.6% (2ndQTR 2017)
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BUSINESS TERMS (S-T)

 

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Understanding business terms is the key to learning about business. Terms S-T are listed below:

Salary, Subsidy, Target Market, Tariff, Tax Shelter, Telemarketing, Test Marketing, Trade Barrier, Trademark

 


Salary
This is payment to an employee n a regular basis, (usually weekly, bi-weekly, or monthly) as stiuplated in the employment contract.

Stock Keeping Unit (SKU)
SKU represents every unique item (product or Service) that you are offering.  For example, if you have a retail store where you're selling clothing then every item of clothing is an SKU.  That is, small white shirts of the same brand, medium white shirts of the same brand, large white shirts of the same brand, etc.  A unique identifier such as an barcode/item number/part number/catalog/inventory number is assigned to each SKU. 

Scale
Scale refers to the ability of a business to grow by increasing revenues with little or no increase in it's operating expenses.     If a business can sell more products with little or no increase in it's operating expenses then that is a business that can scale.  Scalable businesses are what investors like to invest in.


Subsidy
This is an economic benefit (such as a tax allowance or duty rebate) or financial aid (such as a cash grant or soft loan) provided by a government to (1) support a desirable activity (such as exports), (2) keep prices of staples low, (3) maintain the income of the producers of critical or strategic products, (4) maintain employment levels, or (5) induce investment to reduce unemployment. The basic characteristic of all subsidies is to reduce the market price of an item below its cost of production.  Source:  Business Dictinoary

Supply
In economics supply refers to the amount of goods that are available for sale.


Target Market
A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise towards. A well-defined target market is the first element to a marketing strategy. The target market and the marketing mix variables of product, place (distribution), promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace..  Source:  Wikipedia


Tarriff
A Tarrif is a tax imposed on products when it is imported or exported from a country.


Tax Shelter
Tax Shelters are any method that legally allow you to reduce your taxable income resulting in a reduction of tax payments. It includes investments that qualify for special tax treatment or creates trax deferrment, depreciation, etc.


Telemarketing
Contacting, qualifying, and canvassing prospective customers using telecommunications devices such as telephone, fax, and intternet. See more.


Test Marketing
This is the product development stage where the product and its marketing plan are exposed to a carefully chosen sample of the population for deciding if to reject it before its full scale launch. Test marketing is an experiment conducted in a field laboratory (the test market) comprising of actual stores and real-life buying situations, without the buyers knowing they are participating in an evaluation exercise.  Source:  Business Dictionary.


Trade Barrier
This is government imposed restrictions on international trade.  These restrictions take the form of import license, export license, quotas, subsidies, embargo, currency devaluation, etc. 


Trademark
According to the USPTO "a trademark is a word, phrase, symbol, and/or design that identifies and distinguishes the source of the goods of one party from those of others.  See more






 

 

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