marketing, organization, and location plan

small business marketing

business activities that direct creation, development, and delivery of satisfaction from creator to targeted user

production oriented

emphasizes development of product and production over other activities

sales oriented

favors product sales over customer preferences

consumer oriented ( the right one)

focus on consumers’ needs

marketing strategy (four p’s)

product

place

price

promotion

product

decisions affecting the total product

place

decision regarding product delivery to customers

price

setting acceptable value on product

promotion

communicating information to target market

must have following ingredients

a group of customers who have purchasing power and unsatisfied needs

unsegmented strategy (mass marketing)

defines total market as the target market

multisegmented strategy

recognizes different preferences of individual market segments and develops marketing mix for each

single segment strategy

recognizes existences of several segments but focuses on the most profitable

everything is limited liability except

sole proprietorship

everything is taxed twice except

c-corporation

what is termination due to death of owner/ withdraw unless otherwise stated

sole proprietorship (individual)

general partnership (2+)

registered LLP (2+)

what is termination dissolution of corporation

c-corporation (1+)

s-corporation (no more than 100)

limited liability company (1+)

3 options for business location

brick & mortar facility (physical storefront)

at home business

online business

information based model

website offer info about a business and not a platform for purchasing

content based

website provides info that attracts visitors with hope of generating revenue through advertising

transaction based

website provides a mechanism for buying products or services

emerging model

anything else! blogging, podcasting, youtube