Fache - Ache Bog Exam Flashcard - Business

Market Structure {Ans: The organizational characteristics of a market that exert a strategic influence on the intensity and form of competition.}Breach of Contract {Ans: A contraction party's failure or refusal to perform its obligations specified in contract.}Health Disparities {Ans: The Variation in the rates of disease occurrence and disabilities among defined groups}Segmentation {Ans: - The division of a market into subsets of consumers with similar needs and wants - Enables marketers to focus efforts on consumers most likely to buy a service or product.}Project Charter {Ans: Tool Commonly used in project management to clarify key components of a project (scope, desired outcomes, participants , resources, timeframes,).}Product (or service) Life cycle {Ans: Four distinct but wholly predictable - (1) Introduction to the marker (2) Growth in utilization & revenue (3) Maturity - when utilization & revenue stablize (4) Decline - when revenue and utilization start to fall}