Marketing Essentials - Ch 35

business plan

a proposal that outlines a strategy to turn a business idea into a reality

business philosophy

explores how you think the business should be run and demonstrates your understanding of you business's role in the marketplace

trading area

the geographical area from which a business draws its customers

buying behavior

the process individuals use to decide what they will buy, and also where and from whom they will buy it

job descriptions

written statements listing the requirements of a particular job and the skill needed to fulfill those requirements

organization chart

a diagram of the company's departments and jobs with lines of authority clearly shown

equity capital

raising money from within your company or selling part of your interest

debt capital

a term used to describe borrowed funds that must be repaid

collateral

something of value that you pledge as payment for a loan in case of default

credit union

a cooperative association formed by labor unions or groups of employees for the benefit of its members