INTRO FINAL REVIEW by Haley Hesselberg

What have you learned about teamwork and building consensus as a result of this class?

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ECONOMIC SYSTEMS

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GOAL SETTING

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ATTITUDES

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CONSENSUS

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EMPLOYABILITY SKILLS

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ENTREPRENEURSHIP/BUSINESS OWNERSHIP

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BUSINESS LAW

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PERSONAL FINANCE

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MARKETING- PROMOTION

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MARKETING- PRICE

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MARKETING- PLACE (VISUAL MERCHANDISING)

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MARKETING- PRODUCT (PRODUCT DEVELOPMENT)

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Other than advertising and sales, what is marketing? How does marketing affect your daily life?

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Trenton

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marketing is everything from when the product is a idea to when the customer gets the product.

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The process of developing, promoting and distributing products, or goods and services, to satisfy customers’ needs and wants.

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A general agreement about something

Trenton

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You need consensus to work well in a group

listen to everyone's ideas

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Communism

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Capitalism

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Socialism

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good at speaking

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SMART Goals

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passive

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Aligns power of group to get things done, and coming to consensus usually solves a problem.

passive aggressive

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Everyone is paid equally and government has total control

long term

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also short term

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Free market system where citizens can privately own resources

sweepstake

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Advertising

Nick from the ice cream shop

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Somewhere in between communism and capitalism

core demographic

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Ability to work well with a team

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To be a good problem solver, and to make

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not too high, not too low

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hidden message

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the law of business

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Budgeting

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not so hidden anymore

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Laws on how to start, run, sell stuff, or close a business

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Usually taking on a financial risk when starting up a business

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Businesses don't always work out and are shut down after a year or two, maybe earlier.

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Usually place small things that you don't NEED but might want at front to tempt you into buying when at the checkout

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Usually put essentials like milk in the back so the customer has to walk down isles and make impulse buys

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Need to be achievable goals

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Must also have an reasonable time frame

Aggressive

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Criminal vs Civil Law

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Criminal law is when it disrupts the balance of society, civil is when a person has a right to sue another.

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Can mean the difference between success and failure in a company.

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Return on investment - Calculation used to determine the profitability of a product.

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Ways to encourage customers to buy your product.

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What a business offers to customers

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Quality product and good price are they key to a successful business.

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Coupons etc.

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Differentiate needs from wants