ENTREPRENEUR REVIEW (5MS PRODUCT AND BUSINESS PLAN)
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
