When individuals are interested in purchasing, investing or working with a company it may also be a good idea to assess it’s financial status, using public information available through government sources, two documents can allow proper assessment. A statement of comprehensive income and a statement of financial position. Statement of comprehensive income A statement of comprehensive income is a usually detailed report listing the inflows and outflows of capital of a business. They often include exceptional expenses and net profit for a business and subsequently can be difficult to follow but should provide a good understanding on how a business… Continue reading Assessing Company Value
When conducting market research businesses need to take risks and may be uncertain on the performance of those risks, however market research allows businesses to minimize the risk. Market research in a dynamic market can be difficult as it can be hard to gauge what is an acceptable metric and one that will not change or become inaccurate. Businesses invest thousands in trying to calculate what the next big trend will be and even more in advertising. Selling Products is the ultimate goal for market research, however it may allow a business to better define its product for market Dynamic… Continue reading Market Research
Marketing is Anticipating, and satisfying, customers wants and needs, efficiency and profitability, Marketing includes Market Research The Marketing Mix What is the purpose of Marketing? To make profit, essentially by improving sales To remind the customer of your product through promotion To see what the customer wants by offering their product To link the product to the brand and create a brand association To communicate and offer competition to other businesses (to compete) There are two types of business orientations, Business to Business where businesses sell products to other businesses, such as tools, office equipment and building supplies. Business to Customer… Continue reading What actually is Marketing?
Within any business there are multiple factors that a customer can imprint on to recognise a brand and associate with quality. Businesses can use the customers intuition to their advantage, targeting on the key aspects of a quality product in order to maximise return. Here is a list of the common points a business can tailor in order to maximise their revenue; Profitability, Businesses must decide how much profit each product or service should undertake, whether it be a large return or a small one. Customers may be willing to buy a product purely on its premium price point.… Continue reading How Customers Associate Quality with a Brand