ENTREPRENEUR REVIEW (5MS PRODUCT AND BUSINESS PLAN)

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This is a great sales promotion tactic to reduce unsold inventory. It includes providing discount to customers who buy in bulk.

BULK PURCHASE DEALS

These way to reduce unsold inventory. It includes proselling bundled ducts at a pricegreat lesser than when those number of products are bought separately.

BUNDLE DISCOUNTS DEALS

a blue print of step by step process that would be followed to convert business ideas into successful business venture

BUSINESS PLAN

a written document prepared by entrepreneur that describes all that relevant external and internal elements involved in starting new venture. It is integration of functional plan such as marketing finance manufacturing and human resource plan

BUSINESS PLAN

detail the potential salary and benefits that the employee will get.

COMPENSATION AND BENEFIT RANGE

pricing method that is based on the cost of production, manufacturing, and distribution of a product. Essentially, the price of a product is determined by adding a percentage of the manufacturing costs to the selling price to make a profit.

COST BASED PRICING

are firms that offer products and services that are functionally the same. This requires companies to develop

DIRECT COMPETITORS

give two categories in competitors analysis

DIRECT COMPETITORS AND INDIRECT COMPETITORS

are entrepreneurs who often buy products or services from the manufacturers and sell them at mark up price to either wholesales or retailers

DISTRIBUTORS

attract many customers as they get some value even for their old product.

EXCHANGE SCHEMES

schemes like no-cost EMI, low-interest EMI, etc. makes it easier for customers to purchase expensive products

FINANCE SCHEMES

are most interested in the financial aspects of the business plan.

FINANCIAL DATA

attract customers as they get more while paying for less.

FREE GIFT

a product that is in a different category altogether but which is seen as an alternative purchase choice; for example, coffee and mineral water are indirect competitors.

INDIRECT COMPETITORS

enumerates the duties and responsibilities of the potential employee including the scope, limitations, and terms and conditions of employment.

JOB DESCRIPTION

is the summary of what the employee will do

JOB TITTLE

are the basic tools to produce goods or to generate services.

MACHINE

can be described as the "best friend" of manpower in producing goods and offering services

MACHINES

referred to as a human resource. It is the recruitment, selection, training, promotion and grievances handling of personnel.

MAN / MANPOWER

is the total supply of personnel available or engaged for a specific job or task.

MANPOWER

handles the invention, development, and production of the product or service

MANUFACTURERS

is a basic ingredient in management be it a service industry or product industry

MATERIAL

Every thing has a right way to do and this right way is known as a ______ in management.

METHOD

it means, an art of doing. A set of procedures and instructions The visible methods of a company include: plans, policies, procedures, and data.

METHOD

management is done to meet day to day business requirements and the funds involved in meeting requirements are known as capital ​

MONEY

refers to a price ending in 1,3,5,7,9 just under a round number, such as $0.19, $2.47, or $64.93. Even pricing refers to a price ending in a whole number or in tenths, such as $0.20, $2.50, or $65.00.

ODD PRICING

an important part of the business plan because it simply states the details in operating the business

OPERATION PLAN

about delivering products and services to customers to meet or surpas bes their expectations its designing, developing and executing operations that assures the intended outcome of the customer's wants and desires ​

OPERATIONS MANAGEMENT

controls the implementation of the business plan A strong operations plan should have the five operational aspects called the 5M's of operation or productions

OPERATIONS MANAGEMENT

its designing, developing and executing operations that assures the intended outcome of the customer's wants and desires

OPERATIONS MANAGEMENT

businesses introduce a low price for their new product or service. The initial price undercuts competitors, forcing them to match the offer or quickly apply other strategies.

PENETRATION PRICING

is when a salesperson meets a potential buyer or buyers face-to-face with the aim of selling a product or service.

PERSONAL SELLING

these are prospect customers that might be interested to the product and capacity to pay.

POTENTIAL MARKET

strategies are necessary to capture the awareness of the customers.

PRICING

is a process of driving the eagerness of the customer to buy and avail the services offered by the entrepreneurs

PROMOTION

strategy that uses pricing to influence a customer's spending or shopping habits to make more or higher value sales.

PSYCHOLOGICAL PRICING

is a strategic communication process that builds mutually beneficial relationships between organizations and their publics."

PUBLIC RELATIONS

media attention for your product, service, or business. It can include traditional news sources, like news shows and newspapers, and new media, like podcasts, blogs, and websites.

PUBLICITY

give 5 types of promotional strategies

Personal Selling Advertising Publicity Public Relation Sales Promotion

is a marketing strategy where the product is promoted using short-term attractive initiatives to stimulate its demand and increase its sales

SALES PROMOTION

Sometimes huge shipping costs discourage the customers from buying products. Such short term shipping schemes remove friction

SHIPPING SCHEMES

are the right customers that will need the product/s and have th

TARGET MARKET

an important tool for enhancing the sales of the company it also promotes products with their features and generating the revenue for the company

ADVERTISING

they negotiate with buyer as to how much or how many are to be sold, so the manufacturer will be able to deliver the goods directly to the buyer

AGENTS

give 4 types of pricing

cost-based pricing psychological pricing penetration pricing, Odd pricing


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