A service that has been packaged as a product. The benefits of doing so include ease of marketing and specialization.

A way of describing your typical customer. You create a profile by modeling your database. The profile could tell you […]

Accountants define profit as the difference between income and expense. Economists also subtract opportunity costs from income.

A financial statement that shows any incomes or outgoings of a company over a certain period of time so as […]

Report outlining the total amount of sales (rev­enues) and total costs (expenses). The difference between these figures is your profit.

The difference between the price and the marginal cost.

An expenditure or transfer that increases the incomes of poorer households by more than richer households, in percentage terms. See […]

Project management is the application of processes, methods, skills, knowledge and experience to achieve specific project objectives according to the […]

Legal protection of ownership, including the right to exclude others and to benefit from or sell the thing owned.

A potential customer who you have targeted.