Business Types
This type of business performs a service for a customer
Service Business
Companies where the owners of the business are also the contributors
Cooperatives
A person who organizes and operates a business or businesses, while taking on financial risks.
Entrepreneur
the amount of money customers are willing to pay for the product or service.
price
Quantifiable metrics used to evaluate the success of an advertising campaign in achieving specific objectives.
Key Performance Indicators (KPI's)
This type of business sells items to the customer
Merchandising Business
This type of business has more than one owner; private ownership
Partnership
A group of people that have been identified as the most likely potential customers for a product because of their shared characteristics such as age, income, and lifestyle.
Target Market
a variety of activities such as advertising, selling, sales promotions, public relations, direct marketing, sponsorship, and guerrilla marketing.
promotion
businesses that offer similar products or services to the same target market as your own business.
direct competitors
This type of business makes something for the customer
Manufacturing Business
This type of business can be more than one owner; legally protected as a business entity
LLC Corporation
The rivalry or contest between companies operating in the same industry or offering similar products or services.
Competition
the physical or digital distribution of the product.
place
businesses that offer different products or services but still compete for the same customer's budget or attention.
indirect competitors
This type of business takes from a natural resource
Extracting Business
This type of business has one owner; private ownership
Sole Proprietorship
Various data points used to monitor and assess the performance of an advertising campaign, such as click-through rates (CTR), impressions, and conversions.
Tracking Metrics
the procedures, systems, and workflows involved in delivering the product or service to customers.
processes
The unique benefits and value that the company offers to its target audience that compels them to choose its products/services over alternatives.
value proposition
The combination of one company having two or more stages of production
Vertical Integration
This type of business has several “owners” or stockholders; public ownership
Corporation
A measure of the profitability of an advertising campaign, calculated by dividing the net profit generated by the campaign by the cost of the campaign and expressing it as a percentage.
Return on Investment (ROI)
the tangible elements that customers encounter when interacting with the product or service.
A concise and strategic declaration that communicates how a brand or product is positioned in the marketplace relative to its competitors.
positioning statement