Business
What is the first step to starting business?
Have a detailed plan.
The system of recording business transactions and analyzing, verifying, and reporting the results.
Accounting.
What is advertising?
Advertising is any non personal communication paid for by an identified sponsor.
what is the marketing concept?
The marketing concept is an approach to business that focuses on satisfying customers as the means of achieving profit goals.
1 + 1
2
What is the easiest way to limit risk in business?
Purchase existing business.
What is accounting referred to?
Language of business.
What group is effective advertising aimed at?
Target market.
what is customer satisfaction/
degree to which customers are pleased.
5 + 5
10
License to sell a company's goods
Franchise
What is the name for the rules of accounting?
Generally Accepted Accounting Principles (GAAP).
Ways advertising is done
Print Media: Tangible messages (newspapers, flyers, magazines)
Broadcast Media: Ads on television and radio
Outdoor Media: Billboards, ads on buses, etc.
Digital Advertisement: Using social media and other sites for advertising
What is customer experience?
The relationship the customer has with a good, service, or company.
5 x 5
25
Written statements of goals
What is an audit?
An audit is a review of the financial statements of a business.
Main purpose of advertising.
Four P's for marketing?
Product, place, price, promotion.
10 x 10
100
A description of your business
Executive summary
What is the accounting equation?
A=L+E
Advertising campaign steps.
Set campaign goals.
Identify the target audience.
Establish the budget.
Select the media.
Create the message.
Establish the metrics.
Analyze the results.
The 7 Functions of Marketing Cont.
Channel management handles activities involved in getting products through the different routes from the producers to the customers. These routes are called channels.
Marketing-information management (MIM) involves gathering and analyzing information about markets, customers, industry trends, new technology, and competing businesses. MIM is also called marketing research.
The market planning function is creating an actionable marketing plan designed to achieve business goals. Activities in market planning include identifying the target market. A target market is the specific group of customers whose needs a company will focus on satisfying.
Pricing directly affects the profit of a business. The pricing function handles all activities involved in setting acceptable prices for products. Financial information is used to set prices that cover costs and include a reasonable profit, as well as to adjust prices when conditions change.
The product/service management function determines which products a business should offer to meet customer needs. Activities can include developing new goods or services or improving a current one.
Promotion refers to the nonpersonal communication with customers that influences purchasing. It includes decisions about advertising, such as the type of ads to use and where to place them. It also includes decisions about personal selling, customer service, publicity, promotional events, and store design and layout.
100 x 100
10000