Business plan vocab
Convinces the audience to read the rest of the plan
What is the executive summary?
Includes mission statement
What is business philosophy?
Includes offering credit arrangements
What is price?
Specific group of customers a company attempts to aim their products at
What is target market?
Government in which citizens can influence laws of the government and are allowed certain rights and freedoms
What is democratic government?
Includes business communication documents, marketing documents, and legal and miscellaneous documents
What are supporting documents?
Describes details concerning the business's education and training
What is self-analysis?
Relates to packaging
What is product?
Defines the key management decisions needed to be successful in marketing
What is marketing-mix?
Non-intervention by the government
What is Laissez-faire?
Includes sources of capital and projected income and expenses
What is the financial plan?
Discusses the geographic, economic and demographic information
What is trading area analysis?
Referred to the fifth P
What is people?
Allows customers to purchase a product and then pay the price off in payments, with interest rates applied
What is financing?
Practice by which nations conduct relationships with one another
What is diplomacy?
Second section of a business plan
What is the business description and analysis?
Defines a business's target market
What is market segment analysis?
Relates to warehouse inventory
What is place?
The path a product takes from the manufacturer to the hands of a consumer
What is distribution channel?
Adjustment necessary on the exchange rate so an exchange will be equivalent to each currency’s buying power
What is PPP?
Includes details concerning proposed organization, proposed product, and proposed marketing plan
What is organization and marketing plan?
Outlines the type of business ownership
What is proposed organization?
The difference between the amounts of money it costs a company to manufacture a product compared to the cost they charge customers for it
What is mark-up percentage?
The details of an organization and the functions that keep it running appropriately
What is logistics?
Degree to which a country is industrialized, adopts new technologies, provides basic resources for its citizens, and sustains a minimum standard of living
What is economic development?