A statement settingout the proposals of a new business or eplaining how exisiting business will develop
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What is in a business plan?
Aims and Objectives. Finacce. Profit forecast. Human Resources. Physical resources. Products/Ideas.
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Pros of a Business plan (FAVS)
Finance- can encourage people to invest. Assesment-you can measure success. Viability-. Successful
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Cons of a Business plan (LOOU)
Long and too detailed- may put off investors. Omissions- things may be left out. Over-Optimistic. Unforeseen events
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What is Marketing? (IAS)
An on going activity that a business undertakes to 1. Identify what customers want. 2. Anticipate what they want in the future. 3.Satisfy customer needs if it is profitable
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Why conduct marketing research?
To know what rivals are doing, To know what customers want and To know what is happening to the size of the market.
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What is the Marketing Mix?
Used to determine the Product, Place, Promotion and Price
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Other cards in this set
Card 2
Front
Aims and Objectives. Finacce. Profit forecast. Human Resources. Physical resources. Products/Ideas.
Back
What is in a business plan?
Card 3
Front
Finance- can encourage people to invest. Assesment-you can measure success. Viability-. Successful
Back
Card 4
Front
Long and too detailed- may put off investors. Omissions- things may be left out. Over-Optimistic. Unforeseen events
Back
Card 5
Front
An on going activity that a business undertakes to 1. Identify what customers want. 2. Anticipate what they want in the future. 3.Satisfy customer needs if it is profitable
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