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  • advertising

    paid promotion through media outlets

    asset

    any item of value

    balance sheet

    a financial statement summarizing the assets, liabilities, and net worth of a business

    breakeven point

    when the volume of sales exactly covers the fixed costs

    business model

    a company's plan to generate revenue and make a profit from operations

    business plan

    a document that thoroughly explains a business idea and how it will be carried out

    cash flow statement

    a financial statement showing cash receipts less cash disbursements for a business over a period of time

    competitive analysis

    research that compares an organization with several direct and indirect competitors by name in a manner that is meaningful to targeted customers

    culture

    the beliefs, values, and behavioral norms of an organization

    direct marketing

    includes telemarketing, direct mail, in-person selling, and other personalized promotional efforts

    elevator pitch

    a 30-second to 2-minute presentation that conveys in an engaging way hat a business is proposing and why the listener should be interested

    environmental analysis

    a review that addresses the roles of the community, region, nation, or the rest of the world, as they relate to a business

    feasibility analysis

    a study to assist in making the go/no go decision based on a close examination of product/service, market, industry, and financial data

    income statement

    a financial document that summarizes income and expense activity over a specified period and shows net profit or loss

    industry analysis

    a critical view of industry definition, industry size and growth (or decline), product and industry life cycle, and any current or anticipated legal or regulatory concerns

    initial public offering (IPO)

    first offering of corporate stock to investors on the open (public) market

    liability

    a business debt

    marketing mix

    the combination of the four factors - product, price, place, and promotion - that communicates a marketing vision

    marketing plan

    a statement of the marketing goals and objectives for a business and the intended strategies and tactics to attain them

    mission

    a concise communication of strategy, including a business definition and explanation of competitive advantage

    mission statement

    a brief, written statement that informs customers and employees what an organization's goal is and describes the strategy and tactics to meet it

    net worth

    the difference between assets and liabilities

    owner's equity

    net worth

    profit and loss statement (P&L)

    an income statement

    proof of market

    an investigation that provides evidence of a market opportunity

    public relations

    community activities that are designed to enhance an organization's image

    publicity

    free promotion

    target market

    groups defined by common factors such as demographics, psychographics, age, or geography that are of primary interest to a business

    vision

    a broader and more comprehensive perspective on an organization that its mission; built on the core values and belief systems of the organization

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