LCBM #1
details all expenses incurred to operate and identifies fixed costs and variable costs
COST STRUCTURE
Choosy moms choose __________________
Jiff
A group formed for the purpose of discussing a specific topic
FOCUS GROUP
Business costs that are not affected by changes in sales volume
FIXED COSTS
A phrase that is easy to remember
SLOGAN
the distinct groups of people (target market), identifying who the customers are and their needs
CUSTOMER SEGMENT
Just Do It
Nike
The particular group of customers a business seeks to attract
TARGET MARKET
this section defines the top 1-3 significant pain points or unmet needs your target customers have
PROBLEM
A strategy for making a product appear different from similar products on the market
PRODUCT DIFFERENTIATION
Business costs that change according to changes in sales volume
VARIABLE COSTS
"I'm Lovin' It"
McDonald's
Unique role
NICHE
A company’s blueprint for success
BUSINESS PLAN
Marketing element referring to what goods, services, or ideas a business will offer its customers
PRODUCT
represent the different ways a business generates cash
REVENUE STREAMS
"Save Money. Live Better."
Walmart
To use a creative-thinking technique involving the identification of as many different ideas as possible during a certain time frame
BRAINSTORM
"Why should a customer choose you?"
UNIQUE VALUE/SELLING PROPOSITION
All the combined impressions and experiences associated with a particular company, good, or service
BRAND
The physical and social characteristics of the population
DEMOGRAPHICS
"America runs on _________________'"
Dunkin Donuts
Any paid form of nonpersonal presentation of ideas, images, goods, or services
ADVERTISING
something that competitors cannot easily copy.
COMPETITIVE ADVANTAGE
A one-of-a-kind attribute of a product or brand that separates it from the competition
UNIQUE SELLING PROPOSITION