MARKETING - is the commercial processes involved in promoting and selling and distributing a product

or service.

MARKET - is the group of all firms willing and able to sell a similar product or service to the same
potential buyers. The market definition for a given product is the identification of the relevant group of
sellers who may be seen as being in competition with one another for the sale of that product.

Why is purchasing important?

Purchasing is important because there is likely to be about more times as much investment in
materials as there is in labor. So a reduction in cost of purchasing would return much greater economies
in purchasing costs than in labor costs.

Wet Markets is a term where the consumer can buy fresh meat and vegetables, live poutry, fish,
reptiles, and mammals.
Advantages

Goods are much cheaper compared to the supermarkets.

Suki system are acceptable here. So you can get a good discount and youll have a good
products because of your trusted suki.

Disadvantages

oftenly dirty and a source of influenza viruses and other infectious disease agents for human
beings.

generally, fruits and vegetables are fresh. But sometimes sneaky vendors mix them in nearly
spoiled items.

the weight of your bought goods are not accurately correct because of their altered
weighing scales.

Dry Markets or a Super Markets (or Hypemarts) are clean, one-stop outlets, which sells durable goods
or foods such as clothes, snacks (junk foods), cooking utensils, accessories and etc.
Advantages/Disadvantages

With regard to fresh catch, meat and vegetables, their weight and measure system is
deemed more reliable, though price-wise, they are generally more expensive.

The quality, especially of vegetables and fruits, sometimes suffers due to late delivery of
goods. A chef told us we should not buy groceries on Mondays because usually no deliveries
are made on Sundays.

Why is security measures important?

Security measures in market are important because market is the where the goods are
distributed. Imported products or products that are delivered here can may be used as a way of
terrorism. Like imported products (ex. Boxes of vegetables or fruits). They can put bombs there
and it can never be noticed.

But when it comes to business matters. Security measures is important because, 1st you should
secure your investments. Make sure your investment makes profit earn more profit than
spending more on capitals. And make sure your employees are good employees. They should
have good records and hardworking.

Why health measures are important?

Health measures are important primarily because markets are selling consumable goods. If the
goods like vegetable, fruits, and meats are contaminated by bacterias and other micro
organisms that can harm the consumers when eated.

Also, fertilizers and other chemicals that are used to the products are also dangerous to
consumers health. So health measures are important to check the products before selling it to
public.

What are the employees benefits?

As far as our research goes, all the stalls and stores that we asked. None of the workers have
benefits. They only have daily income. Or 2500 pesos monthly. Others said they are not obligued
to pay or apply for benefits unless they wanted to.

SALES is the total amount sold. It could be within a time period. It is usually expressed in monetary
terms but can also be in total units of stock or products sold.
COMMUNICATION it is a means of people exchanging ideas, information, news, or feelings as well as
share and create meaning. In business, it is a key aspect since operating between levels, departments,
and employees need communication in order to function very well.

COST CONTROL it is a processing of controlling the cost of project or an activity.

PROFIT is the total earnings a business gain after all total costs are deducted from the total revenue.

REVENUE it is the income generated from selling goods and providing services to customers. Cost or
expenses are not yet deducted.

FORECASTING - A planning tool that helps management in its attempts to cope with the uncertainty of
the future, relying mainly on data from the past and present and analysis of trends.

PURCHASING - sometimes also referred to as procurement, is the professional activity of buying goods
and services on behalf of organizations. In practice, purchasing tends to be more professionally
organized in larger organizations and can be quite informally organized in smaller organizations.

INVENTORY list of tangible goods or property which includes raw materials, items available for sale or
in the process of being made ready for sale.

DIRECT COMPETITION - Market situation where two or more firms offer essentially the same good or
service.

INDIRECT COMPETITION - Competition among the suppliers of different types of products that satisfy
the same needs. For example, a pizza shop competes indirectly with a fried chicken shop, but directly
with another pizza shop.

MENU in restaurant, it is a list of foods/drinks to serve to the customers. A menu may be la carte
which guests use to choose from a list of options or table d'hte, in which case a pre-established
sequence of courses is served.

PRICE is a value that will purchase a quantity, weight, or other measure of a good or service.

VENDOR a person who sells something, such as goods or services in exchange for money.

QUALITY the top standard characteristics and features of a product or services that excellently
satisfies the needs of the consumer.

QUANTITY The size, or sum of countable or measurable events, objects, expressed as a numerical
value.

PERPETUAL INVENTORY - A manual or automated inventory accounting system where inventory is

accounted for in a real-time basis with adjustments, delivery, movements, and receiving being updated
as they occur.

PHYSICAL INVENTORY - is the counting of all merchandise or equipment on hand.

STORING the process of putting away items for future use. To fill, supply or stock items in a
storehouse or warehouse for safekeeping or for future use.

ISSUEING the process of circulating, distributing or publishing by an office or by a group.

ACCOUNTING is a system of measurement and reporting of economic events based upon the
accounting equation for the purpose of decision making. It may referr to the department, activity or
individuals involved in the application of the accounting equation.

CONTROLLING - The basic management function of establishing benchmarks or standards, comparing

actual performance against them, and taking corrective action, if required.