Categorie: Tutti - marketing - colour - branding - demographics

da Nathan James manca 1 anno

137

Introduction to business

Effective branding involves several key elements, including the creation of a distinctive logo or trademark that combines the business's name with a unique symbol. A memorable slogan, typically six to eight words long, is also crucial for capturing customer interest.

Introduction to business

Introduction to business

Leadership

Negative leaders
These leaders use punishment with employees

assigning unpleasant job tasks

Reprimanding in front of others

Days off without pay

Positive Leaders
These leaders use something good to motivate employees

lieu time off

Raises, bonuses

acknowledgement

Development opportunities

independence

Three leadership Styles
Laissez-Faire

Group needs to be told what to do

Members don’t value each other

All members know what has to be done

True teamwork effort

how to do it

Members really like the job and know

This is when the person or group in charged and Gives little or no direction, nor motivation to team members, advice is offered only if asked and no one seems to be in charge.

Democratic

Members don’t like each other

Group is not interested (lazy)

More time

Members are interested

This is when the person or group in charged and supports teamwork, asks before tells, all members are involved but leader has final say.

Autocratic

Pros

Members don’t know each other

Little time

Members don’t know how to do the job

Cons

Members want variety

Trying to team build

Members know how to do the job

This is when the person or group in charged and is not open to new ideas “It’s my way, or the highway!” and Tells others what to do.

Main topic

Personal Finance

Budgeting
3 T's

Target

In the short term, you won’t feel as much stress when your bills arrive. In the long term, you may find yourself heading for a more secure financial future.

Trim

BE REALISTIC

Cutting back is usually a better place to start than completely cutting out.

Track

Once you start tracking, you may be surprised to find you spend hundreds of dollars a month on eating out or other flexible expenses.

Deductions
Two different deductions

Mandatory gov’t and any voluntary amounts taken off of your gross pay.

Methods of payments
Hourly + O/T

Get paid a set amount per hour. If any O/T you will get paid extra

Piece work
Commission

Get paid for every item you make. The more you make, the more money you get.

Salary

Get paid the same amount every pay not paid for any O/T

Rule of 72
Interest = 72/ # of years
# of years = 72/ Interest
Goal is to find how long it will take to double your money and how much interest it will take to do that
Chequing
For money that you plan to use for day-to-day spending or to pay bills.
Savings
You can also make compound interest in savings accounts.
Allow you to set money aside for emergencies, save for a large purchase or build funds for your education – while keeping your money readily accessible.
Debit Cards
Like using liquid cash
Only may incur fees if You over draft your account
Takes money straight from your bank account
Credit Cards
Better fraud protection
Charges interest
Have to pay it off
Like a Check
Borrow money

Marketing

Marketing Mix
2 C's

Consumers

Target markets can be segmented in two ways

Life style

Demographics

Competition

Indirect competition

The options are not directly related to each other.

For example with 15 dollars in your pocket you can ether -

Go get quick pizza

Go get snacks from the 5 conners gas station

Go watch the new avatar Movie

Direct competition

Very similar products addressing the same need

GMC vs Chevrolet

Apple vs Samsung

Bauer vs CCM

Competitive Market

The competitive market is when multiple producers compete with each other to satisfy the wants and needs of a large number of consumers that want the same thing. i.e. Soda companies like Pepsi, Coke, Root Beer and Dr. Pepper are all competing for customers that want soda.

Benefits

Technology Advancements

Product Improvements

Increased Productivity

Better Prices

Alternative Choices – i.e. bad service

Increased Selection

4 P's

Promotion

Telemarketing

personal selling over the phone, fax

Personal Selling

tries to persuade customer to buy

salespeople (High stress)

expensive to keep good

person to person

Price

- if the demand is high, people will be willing to pay more

- Price of a product will often be determined by the quantity demanded

Price Strategies

What competitors are selling their products for

What image to project

Reflect what a customer is willing to pay

Place

Place Strategies

Where a product is to be distributed

This is Important because if your trying to sell winter gear and you are selling it in Florida you won't have very good sales but if you sell it in Alberta or any where more north you will get better sales.

Location for stores?

Product

Packaging

Packaging Strategies

attract attention of consumers

info printed on the container

protection of the product

design of the container

container or wrapper for a product

Branding
Colour

Colour also plays a big part emotional because some colour make you feel different then others.

Colour plays a huge part in branding and it will attract certain people biased on how you use each one. i.e. Warm Colours send an outgoing, energetic message and Cool Colours are calmer and more reserved.

Slogan

Six to eight words in a slogan

A short catchy phrase to keep customer hooked on to company/business

logo and Trademark

A business combines their name with a symbol of their own

Brand name

A word, or group of words, to distinguish a businesses product from its competitors

Marketing is the process that connects suppliers with end users

Accounting

Income statements
Income statement Equation

Revenue - Expenses Net income (loss)

Net loss

When your Expenses are Greater than your Revenues

Net income

Profit is when your Revenue are greater then your costs, expenses, to run the business.

Expenses

Money already paid

Money you pay to be able to run a business

Revenue

Money earned from performing a service or selling goods.

Balance Sheet
Fundamental Accounting equation

A = L - OE

Owners equity

Two fundamental Roles in Marketing

To manage a business’s brand or brands

To sell what a business makes

The difference between what you own and what you owe.

Net worth (What's left over)

Liabilities

Accounts Payable

The money a business owes another business for a good or service.

Money owed that haven't paid yet

Assets

Accounts reciveable

Money for which Your company has made but haven't got yet.

Anything worth a dollar value

Things to know when doin a balance sheet

1 Period in Time

Left side = Right side

ONLY 4 $$$$