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Marketing Plan - are designed to capture market share and defeat competitors
- the process consists of analyzing marketing opportunities, selecting target markets,
designing marketing strategies, developing marketing programs and managing the marketing
effort.
Positioning - is the way the customers perceive the enterprise and its products or services in
their minds
Packaging - does not refer only to the wrapper or container of the product
- it can mean the bundle of products or services that are put together to attract
and delight customers
A Brand - a name, symbol, or design (or combination thereof) that identifies the goods or
services and distinguishes them from those of the competitors
Place
Final Choice Of Location
a. Image And Location Conditions
b. Clustering Of Competitor Establishments
c. Future Area Development
Promotion - is the explicit communication strategy adopted by an enterprise to elicit the
patronage, loyalty and support not only from its customers but also from its other significant
stakeholders
Kinds of Promotion
Advertising – is a paid, non-personal communication regarding goods, services,
organization people, places and ideas that is transmitted through various media
- Form of communication
Personal Selling – involves oral communication with one or more prospective the buyers
my paid representatives for the purpose of making select
Price - is a major factor for the customer in buying a product it is not the only factor such as in
the case of buying premium products
Product - is the tangible good or the intangible service that the enterprise offers to its customers
in order to satisfy their needs and to produce their expected results
Niche Products - do not intend to compete directly with the giants
Entrepreneurial Mind – refers to a specific state of mind which orientates human conduct
towards entrepreneurial activities and outcomes
Creative Mind - conceptualizes and designs a product that consumers find some use for it
Technical Mind - is the technology originator
Purposes Product Launch And The Business Mind - brings the product from prototype stage to
the production phase and finally to its ultimate destination the marketplace
- the product must be made shop-ready for commercial
Partnerships - is vested with own legal personality quite distinct and separate from its individual
members
- can own its own assets and incur its own liabilities
- it can sue and it can get sued
Categories of Accounts
Assets – something that a company has owns or controls, a receivable is an assets
- A particular entity can obtain the benefit and control other’s access to the asset
- Examples: cash, account receivables, land, equipment, construction in progress,
patents, copyrights, goodwill, computer, trademark, etc.
Liabilities - Amounts that company owes to its creditors
- Examples: Notes Payable, Accounts Payable, Unearned Revenue, Owe on
Account, Accrued Expenses, etc.
Revenues - Goods or services provided to a customer
Expense - You were provided a service that you will pay for
- Examples: employees work, electricity, advertising, interest, taxes, etc.
Equity - Owned by the owners of the company
- Example: Retained Earnings, etc.
Major Financial Statements
Income Statement
Financial statement that reports the company’s revenues and expenses over an interval of time
Shows whether the company was able to generate enough revenue to cover expenses of running the
business
Formula:
Revenue-Expenses = Net Income or Net Loss
Statement of Changes in Shareholder’s Equity
Contributed capital and retained earnings
Retained Earnings:
Formula:
Beginning Retained Earnings
Less Dividends
Plus Net Income or Minus Net Loss
Ending Retained Earnings
Balance Sheet (assets, liabilities and Shareholder’s equity)
Financial statement that presents the financial position of the company on a particular date.
Summarized by the accounting equation which must always be in balance
Formula:
(Assets=Liabilities + Shareholder’s Equity)