Marketing
Price, Place, Promotion, Product
What are the 4 P's in the Marketing Mix?
Language of business.
What is accounting?
Starting and managing your own business.
What is Entrepreneurship?
The team that takes care of the people who take care of the business.
What is HR (Human Resources)?
Internal drive that makes people want to achieve goals.
What is motivation?
Organizational function and set of processes for creating, communicating, and delivering value to customers.
What is marketing?
A plan for how to spend and save money.
What is a budget?
Vision, Creativity, Resilience, Confidence, Adaptability
What are common traits of entrepreneurs?
Different backgrounds, experiences, perspectives, ages, identities, and strengths.
What is diversity?
Motivation that comes from within.
What is Intrinsic?
Systems that track interactions to personalize experiences.
What is a CRM (Customer Relationship Management)?
Helps managers make decisions about pricing, production, budgeting, and improving efficiency.
What is Managerial Accounting?
Focus is on small, specialized groups that big companies overlook.
What are niche markets?
A brief introduction that tells someone: Who you are, What you do, What makes you valuable. What you’re interested in.
What is an elevator pitch?
Physiological needs, Safety needs, Love and Belonging needs, Self-esteem needs, Self-actualization needs
What are Maslow's Hierarchy of Needs?
Costs, Competition, Customer Perception, Economic Conditions
What are factors affecting price?
Compares actual spending to the plan and make changes if needed.
What is controlling?
Professional investment firms or groups that pool money from many investors to put into high-growth businesses.
What are venture capitalists?
Posture, Eye contact, Voice, Briefness, Confidence, Clear message
What are key first impressions?
A worker keeps showing up late and seems bored with their tasks.
What is an example of low motivation in the workplace?
Organizations or individuals that help move products from the producer (manufacturer) to the final customer.
What are intermediaries (middlemen)?
Profit, Manage risk, Maintain control
What are 3 main goals that motivate financial decisions?
Paying a fee to operate a branch of an established company under its brand name and system.
What is a franchise?
Changing Workforce Demographics, Need for Better Training, Employee Retention, Legal Compliance
What are major HR challenges?
The need to realize one's full potential.
What is self-actualization need?