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M

Magazine Advertising

Definition: Print ads that run in local or national magazines
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Mailing List

Definition: A collection of names and addresses used by a company to send material to multiple recipients. On the internet, mailing lists include each person's e-mail address rather than a postal address.
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Manufacturer's Representative

Definition: An independent sales agent who works on commission
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Market Research

Definition: The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face
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Market Surveys

Definition: The study of the spending characteristics and purchasing power of the consumer who are within your business's geographic area of operation; a research method for defining the market parameters of a business.
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Market Testing

Definition: To test multiple marketing scenarios and select the most promising for expansion.
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Marketing Campaign

Definition: A specific, defined series of activities used in marketing a new or changed product or service, or in using new marketing channels and methods
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Marketing Materials

Definition: The printed pieces, such as brochures, letterhead and business cards, you'll use to market your business
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Marketing Plan

Definition: The written document that describes your advertising and marketing efforts for the coming year; it includes a statement of the marketing situation, a discussion of target markets and company positioning and a description of the marketing mix you intend to use to reach your marketing goals
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Media Planning

Definition: The process of establishing the exact media vehicles to be used for advertising
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Mediation

Definition: A form of alternative dispute resolution in which the involved parties bring their dispute to a neutral third party, who helps them agree on a settlement; mediation is generally nonbinding, unless the parties agree to a resulting settlement
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Medicare Taxes

Definition: The tax you withhold from your employees' paychecks to cover the cost of Medicare expenses
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Mentoring

Definition: Educational and/or professional development support provided by experienced colleagues
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Merchant Status

Definition: The relationship between a company and a bank or credit card company that allows the company to accept credit card payments from its customers
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Mergers

Definition: The combination of one or more corporations, LLCs, or other business entities into a single business entity; the joining of two or more companies to achieve greater efficiencies of scale and productivity
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Microloan

Definition: A SBA loan program that helps entrepreneurs get very small loans, from less than $100 to $25,000
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Minimum Wage

Definition: A wage below which employers may not legally pay employees for specific kinds of employment
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Mission Statement

Definition: A sentence describing a company's function, markets and competitive advantages; a short written statement of your business goals and philosophies
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Motivating Employees

Definition: Using both tangible and nontangible rewards to keep employees enthusiastic, loyal and interested in continual improvement
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