En
Cards (37)
- Entrepreneurship is an act of being an entrepreneur, or "the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits
- can refer to something new or to a change made to an existing product, idea, or field.
- act of buying goods/services meeting of people for the purpose of trade by private purchase in short buying and selling
- one that buying or purchasing goods or services - mamimili/ or namimili
- Is a packaged business investment that allows the buyer to begin a business.(Technically, all franchises are business opportunities, but not all business opportunities are franchises
- Is the part of the total population that has shown some level of interest in buying a particular product or service. Potential market is also called Total addressable market
- Are prospects who are willing and capable (have sufficient resources) buyers, and have access to a particular market or service
- This refers to a group of potential customers to whom a company wants to sell its products and services. Target markets are generally categorized by age, location, income, and lifestyle
- Is a motivating force that compels action for its satisfaction. Needs range from basic survival needs (common to all human beings) satisfied by necessities, to cultural, intellectual, and social needs (varying from place to place and age group to age group) satisfied by necessaries
- Is a set of customers or clients who are already using a particular product or service
- Is a place where two parties can gather to facilitate the exchange of goods and services
- Are people who have already purchased your product.
- Are people in your target market who are not currently looking for a solution
- Are people who have not yet purchased your product but are considering it.
- can be defined as anything that we can offer to a market for attention, acquisition, use or consumption that could satisfy a need or want.
- are special form of product which consists of activities, benefits or satisfactions offered for sale that are intangible.
- are the named and unnamed needs of customers when they come in contact with the different business establishments or when they search for the solutions which businesses provide.
- comes from identifying customers' needs and providing solutions that meet those needs.
- Refers to what you are selling, including all of the features, advantages and benefits that your customers can enjoy from buying your goods or services.
- These are the promotional activities you use to make your customers aware of your products and services, including advertising, sales tactics, promotions and direct marketing.
- Is the place where your product or service is actually sold
- This refers to your pricing strategy for your products and services and how it will affect your customers.
- The wrapping material around a consumer item that serves to contain, identify, describe, protect, display, promote and otherwise make the product marketable and keep it clean.
- Refer to the staff and salespeople who work for your business, including yourself.
- refers to the processes involved in delivering your products and services to the customer. It is also about being 'easy to do business with'.
- refers to everything your customers see when interacting with your business.Marketing mix- Refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market.
- Is a long-term, forward-looking approach and an overall game plan of any organization or any business with the fundamental goal of achieving a sustainable competitive advantage by understanding the needs and want of customers.
- Refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumersor other businesses.
- the process to be followed in effectively manufacturing or delivering a product or service. It is the day-to-day operations of a business. Internally, the process must abide with industry standards and policies Certification).
- this is the worker. When setting up a business, finding honest and capable people is always a challenge. In my experience, people can be honest but may not be capable or competent and some are capable but not honest. It is a rare find to find someone with all the ideal qualities. So for a businessman, they must be able to treasure their employees who are both capable and honest as they are integral to the growth of the business
- sourcing raw materials is critical in any business endeavor as the businessman would want to have the cheapest possible at the highest quality.
- As with all marketing activity, is an investment and creates opportunities for the product to be discovered by the market
- machinery is also important. Without the proper equipment, you will not be able to perform the needed tasks efficiently. You may be able to use the manpower to do it but it is usually more efficient if machines are able to automate the work.
- Recruitment is the process of generating a pool of capable people (identifying and attracting a group of potential candidates from within or outside the organization) to apply for employment to an organization.
- Selection is the process of collecting, measuring, and evaluating information from a pool of applicants. An applicant is a person (or persons) more likely to succeed in the job(s), given management goals and legal requirements.
- is behavior - the observable things people do - that is relevant to accomplishing the goals of an organization
- is the revenue a business brings in after covering the expenses required to make a sale. Simply put, gross profit is a business's total sales, less the cost of goods sold.