The 5th P
What is people?
Do not allow citizens to have influence on the laws of the government
What is a Totalitarian Government?
Total amount of goods/services produced by a country each year
What is GDP?
A road map of where the business will be going
What is Business Plan?
Rate at which prices of goods/services are rising
What is Inflation Rate?
Also described as "distribution"
What is Place?
Based on economic equality
What is Communism?
A system in which individuals make most of the decisions regarding economic activities
What is Market Economy?
Highlights proposed business
What is executive summary?
Have undeveloped, weak, or unstable economies
What is Underdeveloped Country?
Includes decisions about advertising, personal selling, sales promotions, and publicity and public relations.
What is Promotion?
Includes the rule of a dictator with absolute power
What is Fascism?
Consists of government ownership of production
What is Command Economy?
The purpose of the organization
What is Mission Statement?
The practice by which nations conduct relationships with one another
What is Diplomacy?
What is Product?
Allow citizens of the country to influence the laws of the government
What is Democratic Government?
Incorporates elements of a market economy as well as a command economy
What is Mixed Economy?
Discusses where the business will operate
What is Trading Area Analysis?
The 4 P's are directly related
What is Interdependence?
Includes creating a sales price or price list
What is Price?
Who has the right to vote
What is suffrage?
The unification of the world's economical, political, cultural, technological systems
What is Globalization?
Includes sources of capital
What is Financial Plan?
Should relate directly to a company's target market
What is The Marketing Mix?