two guiding principles in business: (must know for final or fail!!!!)
Sample size
Demographics
Primary data
Secondary data
3 ways to collect data
Focus group
Survey
Observation
Secondary data (existing data)
Target Market: who you are trying to sell to......
Income statement...... what are the parts? How to calculate? You will need to calculate this on the test
INCOME STATEMENT:
revenue (income)
- COGS (cost of goods sold)
=Gross Income
- overhead (cost of all other expenses, not the product)
= net Profit before taxes
- taxes
= net profit after taxes
Break Even Analysis You will need to calculate this on the test. (if i have overhead of $6,000 and I sell hot dogs for $5 each, with a cost of $2. How many hot dogs do I have to sell to break even?)
Is Free shipping really free?
SWOT Analysis, what does it stand for?
marketing Mix What are the 4 P's of marketing?
differentiation
4 parts of a display ad (Headline, illustration, Copy/text, logo)
What are the four parts of the "product life cycle"? (introduction, growth, maturity, decline)
What is wholesale sales?
What is retail sales?
What does "R and D" stand for? (research and development)
What is product branding? developing your message for a product.
Invoice with discounts For example 3/10 net 30 means if you pay within 10 days you get a 3% discount. If you don't pay the entire bill within 10 days, the it is due within 30 days.
Purchase order
packing slip.
Role Play (there will be a role play)
Newsjack
What is a marketing channel?
Caveat emptor: the principle that the buyer alone is responsible for researching whether a product is a good deal before buying
What is the California Penalty for Truth in advertising law violation? (up to $2500 penalty and/or 6 months in jail)
What is an Asset? See parts of video linked
What is a liability?
What is equity? (Chart?)
Accounts Receivable (money owed by you to another company)
Accounts Payable (money owed to your company)
competitive advantage
People need a reason to go....
Consumers are looking for:
Types of pricing
Corporate structure
shareholders-----board of directors-----CEO ---- president(s)
5 elements of promotional mix: Publicity, Public relations, Advertising, Sales Promotion, Personal selling
Marketing Mix
) Product
Idea generation
Branding
Product life cycle
packaging
2) Price
Elasticity
Income statement
Keystoning
Types of pricing
3) Place
channels of distribution
merchandising
4) Promotion
2nd Semester
Product memes
white label
Promotion
6 P's of persuasion
5 elements of promotional mix
Types of pricing
- All company policies and activities should be directed toward satisfying customer needs.
- Profitable sales volume is more important than maximum sales volume.
Sample size
Demographics
Primary data
Secondary data
3 ways to collect data
Focus group
Survey
Observation
Secondary data (existing data)
Target Market: who you are trying to sell to......
- Basic types of business ownership Sole proprietorship Partnership Corporation (documented with the state)
Income statement...... what are the parts? How to calculate? You will need to calculate this on the test
INCOME STATEMENT:
revenue (income)
- COGS (cost of goods sold)
=Gross Income
- overhead (cost of all other expenses, not the product)
= net Profit before taxes
- taxes
= net profit after taxes
Break Even Analysis You will need to calculate this on the test. (if i have overhead of $6,000 and I sell hot dogs for $5 each, with a cost of $2. How many hot dogs do I have to sell to break even?)
Is Free shipping really free?
SWOT Analysis, what does it stand for?
marketing Mix What are the 4 P's of marketing?
differentiation
4 parts of a display ad (Headline, illustration, Copy/text, logo)
What are the four parts of the "product life cycle"? (introduction, growth, maturity, decline)
What is wholesale sales?
What is retail sales?
What does "R and D" stand for? (research and development)
What is product branding? developing your message for a product.
Invoice with discounts For example 3/10 net 30 means if you pay within 10 days you get a 3% discount. If you don't pay the entire bill within 10 days, the it is due within 30 days.
Purchase order
packing slip.
Role Play (there will be a role play)
Newsjack
What is a marketing channel?
Caveat emptor: the principle that the buyer alone is responsible for researching whether a product is a good deal before buying
What is the California Penalty for Truth in advertising law violation? (up to $2500 penalty and/or 6 months in jail)
What is an Asset? See parts of video linked
What is a liability?
What is equity? (Chart?)
Accounts Receivable (money owed by you to another company)
Accounts Payable (money owed to your company)
competitive advantage
People need a reason to go....
- save
- Convenience
- prestigious
- Entertaining/experience ( a place to go, even if not buying something)
- required/mandatory (ie DMV)
Consumers are looking for:
- Community
- Authenticity
- Experiences
Types of pricing
- Penetration Pricing
Price Skimming
Product Bundle Pricing
Premium Pricing
Corporate structure
shareholders-----board of directors-----CEO ---- president(s)
5 elements of promotional mix: Publicity, Public relations, Advertising, Sales Promotion, Personal selling
Marketing Mix
) Product
Idea generation
Branding
Product life cycle
packaging
2) Price
Elasticity
Income statement
Keystoning
Types of pricing
3) Place
channels of distribution
merchandising
4) Promotion
2nd Semester
Product memes
white label
Promotion
6 P's of persuasion
5 elements of promotional mix
Types of pricing
- Penetration Pricing
Economy Pricing
Price Skimming
Psychological Pricing
Product Line Pricing
Optional Product Pricing
Captive Product Pricing
Product Bundle Pricing
Promotional Pricing
Geographical Pricing
Value Pricing
Premium Pricing - Bundle Pricing