Business encyclopedia

Learn everything there is to know about running a business

Filtered results for “M”

We found 10 results starting with the letter “M


Merchandising is everything you do to promote and sell your products once the potential customer is in your store.


Manufacturing is the making of goods by hand or by machine that upon completion the business sells to a customer.

Market Segmentation

Market segmentation is the dividing of a firm’s target market into groups and subgroups.

Market Research

Market research consists of systematically gathering data about people or companies and then analyzing it to better understand what that group of people needs.

Mergers and Acquisitions (M&A)

Mergers and acquisitions, or M&A for short, involves the process of combining two companies into one.

Mission Statement

A mission statement is a brief description of why a company or nonprofit organization exists. It explains what the company does, who it serves, and what differentiates it from competitors.

Media Planning

Media planning is the process of identifying and selecting media outlets – mainly newspapers, magazines, websites, TV and radio stations, and outdoor placement

Marginal Cost

Marginal cost refers to the increase or decrease in the cost of producing one more unit or serving one more customer.

Management Information Systems (MIS)

A management information system (MIS) is a computer system consisting of hardware and software that serves as the backbone of an organization’s operations.

Material Requirements Planning (MRP)

Materials requirements planning (MRP) system is a software-based solution that works backwards from customer orders to determine when materials will be needed for production and then initiates their purchase.