Entrepreneurship
Microinventory
A set of goods or service that consists of only one or a few items.
Liquidity
A measure of how quickly a company can raise money through internal sources by converting assets to cash.
Agent
A middleman business which represents a manufacturer's product or service to other business-to-business middleman firms.
Retailer
A middleman business which sells to customers or end-users of a product.
Wholesaler
A middleman which buys (typically in large quantities) and sells (typically in small quantities) to businesses rather than consumers.
Price Lining
An attempt to appeal to several different markets.
E-tailer
An electronic retailer; a store that exists only on the Internet.
Captive Pricing
Selling one item at a very low price (even below cost) when there are necessary supplies that you can sell for a high price.
Prestige Pricing
Setting a high price to imply that this product is a status symbol and/or of much better quality than others.
Financial Flexibility
A business's ability to manage cash flows in such a manner that the company can respond appropriately to unexpected opportunities and needs.
Off-peak Pricing
Charging lower prices at certain times to encourage customers to come during slack periods.
Price Skimming
Charging the absolute highest possible price due to inelastic demand.
Odd-even Pricing
Ending a price with a 9, 7, or 5.
Secondary Research
Information already collected for some other purpose than the current problem or questions.
Primary Research
New information collected to solve a problem at hand or answer current questions.
Partitioned Pricing
Pricing each piece separately; the consumer gets "hooked" on the core component and then pays extra for everything else needed.
Elastic Product
Product for which there are any number of substitutes and for which a change in price makes a difference in quantity purchased.
Fulfillment Center
A company that will warehouse your products and fill your customers orders.
Just-in-time Inventory
Having just enough product on your shelves to meet the immediate purchases. This usually requires frequent shipment from your supplier.
Inelastic Product
Product for which there are few substitutes and for which a change in price makes very little difference in quantity purchased.
Financial Strength
The ability of a business to survive adverse financial events.