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.
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  • Created by: Ayo
  • Created on: 13-03-13 18:46

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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Making the start-up effective

  • 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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