Marketing the start-up effective

marketing customer needs are essential to survive & be successful for a business. 3 stages in getting this right - anticipate,identify & meet the needs, often via market research.
marketing mix; 4Ps price(types), product, promotion(where, is it suitable?), place(how to get the product to ther customer).

emphasis on elements of the marketing mix can be changed, e.g. to meet changing customer needs.
benefits and drawbacks of unlimited liability (more reedom, high risk, could lose everything) and of limited liability (more rules, less risk of losing home).

sole trader has certain characteristics-own boss, sets own targets, has unlimited liability, keeps the pofits, can be risky.
PLC have different characteristics-shareholders, must file accounts, share profits and decisions, limited liability limits risk for shareholders-can only lose what they put in.

establishing a unique traading or business name could be a USP for a business. name must be memorable.
record keeping is important to help get tax payments right.
tax responsibilities for a business can in VAT, income tax, national insurance contributions and corporation tax.

Making the start-up effective

marketing customer needs are essential to survive & be successful for a business. 3 stages in getting this right - anticipate,identify & meet the needs, often via market research.
marketing mix; 4Ps price(types), product, promotion(where, is it suitable?), place(how to get theproduct to ther customer).
emphasis on elements of the marketing mix can be changed, e.g. to meet changing customer needs.
benefits and drawbacks of unlimited liability (more reedom, high risk, could lose everything) and of limited liability (more rules, less risk of losing home).
sole trader has certain characteristics-own boss, sets own targets, has unlimited liability, keeps the pofits, can be risky.
PLC have different characteristics-shareholders, must file accounts, share profits and decisions, limited liability limits risk for shareholders-can only lose what they put in.
establishing a unique traading or business name could be a USP for a business. name must be memorable.
record keeping is important to help get tax payments right.
tax responsibilities for a business can in VAT, income tax, national insurance contributions and corporation tax.

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repeat purchases can benefit a business as customers return to by goods rather then buying from competitiors.
businesses must recruit the right staff, in right place at the right time.
job adverts are used to encourage applicants for posts.
job description is an overview of the job, e.g. a cleane wanted for a restaurant.
job particulars give more detail of the post, e.g. hours of work, wages.
person specification includes the skills, qualities, attitudes and qualifications needed for a job, e.g. goood communcication skills, degree in Maths etc.
selection process involves letters of application, CV, short-listing and interviewing.
selection criteria includes a review of the candidate's skills and attitude and also whether they will fit in.
training can be on the job or off the job
there are laws affecting recruitment and selection, e.g. equality, minimum wage, health and safety.
employees can be motivated by giving them incentives and empowerment. A well motivated workforce is more likely to work hard and to keep labout turnover down.

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