About This Chapter
Marketing & Financial Plans in Business - Chapter Summary
Working through this chapter gives you knowledge about the pivotal steps in creating and managing a successful business, including how to make decisions relate to marketing, creating a harvest strategy and finding the right location. You'll also have the opportunity to look more closely at how businesses utilize SWOT, a type of analysis that gives a business direction in terms of marketing. Once you view all of the videos, you should know how to:
- Define business goals
- Determine how businesses pick a location for their operations
- Analyze examples of financial plans and calculate opportunity cost
- Explain why businesses use SWOT analysis
- Define merchandise planning and describe the product development process
- Describe vendor analysis
- Identify the dimensions of retailing's role in marketing
Completing this chapter doesn't take long because the lessons are short; the videos averaging around 5-10 minutes. If you want to see if you are effectively retaining information after every lesson, be sure to use the self-assessment quizzes.
1. What Are Business Goals? - Definition & Examples
Goals are used to help a business grow and achieve its objectives. They can be used to foster teamwork and help the business describe what it wants to accomplish. Setting goals is an important part of any business plan.
2. Creating a Harvest Strategy in a Business Plan
What is a harvest strategy for a business? When does it come up? What are the two main types? This lesson explains these concepts in easy to understand language and shows how to use them in the classroom.
3. Choosing the Location for a Business
One important aspect companies need to consider when opening a business is location. Business educators need to detail the ideas behind this consideration. This lesson gives an overview of aspects to consider when choosing a business location.
4. What Is a Financial Plan for a Business? - Definition & Example
A financial plan for a business can help managers determine if they can achieve the organization's goals. The financial plan is one of the first things created to help managers make decisions that are in the best interest of the organization.
5. How to Calculate Opportunity Cost
Learn the formula that reveals the economic value in any major choice between two possibilities. Every choice involves tradeoffs, and opportunity cost shows you how to measure these tradeoffs.
6. What is a Marketing Plan? - Definition & Sample
In this lesson, we will learn what a marketing plan is and why it is so important for a business to have one. We will cover the specific strategies the plan should have in order to help the organization achieve its goals.
7. What is SWOT: Situation Analysis in Marketing
A successful business needs to know its capabilities as well as the marketplace in which it competes. In this video, learn how to define a mission statement and conduct a situational analysis.
8. What is Merchandise Planning? - Definition & Process
What is a merchandise plan, how does it fit into the overall business plan, and what are the steps to create it? This lesson explains merchandise planning and shows how teachers can use this information in educating students.
9. What Is the Product Development Process?
You have to develop a product before you can sell it, right? In this lesson, you'll learn about the product development process in four steps. Learn what it takes to go from an idea to market.
10. Retailing's Role in Marketing: Definition and Dimensions
When you start a retail store, there are many things to consider, from the type of service you'll offer to the scale of the business. In this lesson, you will learn about retailing's role in marketing and the different forms retail stores can take.
11. Vendor Analysis: Definition & Process
Vendors play a major role in a firm's performance. Firms use vendor analysis to select the right vendors for their organization. In this lesson, learn what vendor analysis is and how it is used.
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Other chapters within the TExES Marketing 6-12 (275): Practice & Study Guide course
- Introduction to Business Management
- Organization & Management in Business
- Business Law & Regulation
- Business & Governmental Regulation
- Entrepreneurship & Types of Businesses
- Accounting Basics for Business
- Risk Management & Credit-Based Relationships
- Fundamentals of Marketing
- Marketing Research
- Demographics in Marketing Research
- Web & Media Marketing
- Product Planning & Promotion
- Advertising, Sales & Promotion in Marketing
- Product Development & Distribution
- Selling & Pricing Strategies
- Marketing & the Global Economy
- Sustainable & International Marketing
- Introduction to International Trade
- Public Relations for Business
- Business Leadership & Decision-Making
- Marketing Data Analysis
- Business Math Applications
- Business Technology & Information Systems
- Technology & Tools for Marketing
- Marketing & E-Commerce
- Marketing Education
- Laying the Foundation for a Marketing Career
- Establishing Professionalism at Work
- Marketing Instruction & Assessment
- TExES Marketing 6-12 Flashcards