Business 1

What does the Marketing Concept focus on?

• Know the consumer

• Emphasize the sales process

• Focus on production costs

• Build Awesome Features

What aspect does the concept of 'Product' cover?

• Distribution or delivery

• Communication and information

• The goods and services offered

• Ensure fair value in the transaction

What is the focus of the Production Concept?

• Emphasize the sales process

• Know the consumerr

• Focus on production costs

• Build Awesome Features

What aspect does the concept of 'Promotion' cover?

• The goods and services offered

• Communication and information

• Distribution or delivery

• Ensure fair value in the transaction

What is the objective of the Sales Concept?

• Know the consumerr

• Build Awesome Features

• Emphasize the sales process

• Focus on production costs

what is business description?

• A study of the competition in the industry.

• An explanation of what the business will be like and the need it will cover for consumers.

• A plan for how to sell the business’s services or products and convince people to buy them.

  
  

• An estimate of how much money will be needed to make the company successful.

• An estimate of how much money the company will be able to make.

what is Market analysis?

• A study of the competition in the industry.

• An explanation of what the business will be like and the need it will cover for consumers.

• A plan for how to sell the business’s services or products and convince people to buy them.

  
  

• An estimate of how much money will be needed to make the company successful.

• An estimate of how much money the company will be able to make.

what is Financial projections?

• A study of the competition in the industry.

• An explanation of what the business will be like and the need it will cover for consumers.

• A plan for how to sell the business’s services or products and convince people to buy them.

  
  

• An estimate of how much money will be needed to make the company successful.

• An estimate of how much money the company will be able to make.

what is Funding requirements?

• A study of the competition in the industry.

• An explanation of what the business will be like and the need it will cover for consumers.

• A plan for how to sell the business’s services or products and convince people to buy them.

  
  

• An estimate of how much money will be needed to make the company successful.

• An estimate of how much money the company will be able to make.

What is needed to Identify customers?

• Identify whom to target and how to reach them

• Make the right product or service available to the right people at the right time

• Understand customer wants and need

• Give customers a reason to keep coming back

• Find new opportunities to win their business