5 P's of Marketing



  The five P's of marketing are Price, Promotion, Place, Price, and People. I think People is the most important part of marketing, because without people there wouldn't be a need to advertise of try promote things, and try to convince them that your product is the best. And i also think people kind of make the other 4 P's happen, like people determine price, place,product,and how that business choose to promote his/her item.

What is a Business plan ...in my own words

  To a business, a business plan is series of Steps that leads to the business Success. The business plan provides Guidelines that make it Easy for a business to stay Organized and have Structure within the business. These Rules allow the business to create a Formula that helps Guides them so they can Limit Mistakes. The business plan serves as a Foundation for the business to Achieve Goals and Flow to success. The Understanding of this Format Prepares the business for plans in the future. Once the the business takes these Orders the Readiness of their Achievements can take them beyond.

  The one types of pricing policies are flexible-price policy which is charging customers different prices for the same product or same quantity of products(black i pod v.s white i pod), and the other one is  one-price policy which all the grocery stores use when they don't have sales.

  The six pricing techniques are : 1. promotional pricing (as seen on t.v deals) 2. multiple pricing (Kroger's 10 for $10 sales) 3. prestige pricing (Lexus) 4. price lining (jeans) 5. odd/even pricing ($29.99) 6. Bundle pricing (computer).
 



Factors that Affect Price

     Above in the image I listed the 6 factors that affected Price and I think that Competitors affect price the least because I feel if you keep good customer service and keep your store clean and tidy you will when the interest of those customers.
    I feel like supply and demand affect price the most because when it comes to picking a price for a select item you have to really think about how much the customers really want/need this product, and you also have to look at do you have the right resources to consistley keep getting the product.

My Black History Project

http://halexishhs.edu.glogster.com/alexis-poster/

Layout planning and Site selection Project

Alexis hawkins ppt

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Chapter 8 Reflection Blog

    In chapter 8, I learned a lot of valuable material that will help me in later life. I now understand why businesses/people get patents, copyrights, and trademarks. Patents are used to protect your ideas, while copyrights protect your inventions (music, books, etc), and businesses get trademarks so nobody can steal their logo/slogan. I also leaned about the laws that protect employees. Wrongful termination, firing somebody for the wrong reasons. Child labor law, having a child under the age of 16 work. Those are just a few I learned much more in dept. We also discuss the laws that affect the start- up of a business, license/permit, contracts, and location. Also in this chapter we were introduced to several  entrepreneurs. This information was much needed for those of us who really want to be a entrepreneur, because when you have people under you, you have to make sure you follow all the laws so that you or your business can't be sued.

The Big Idea Series #1

    All the entrepreneurs in this series all shared a common goal. That goal was whatever you had in mind just go out and make something of it. None of these entrepreneurs were scared to give their idea(s) a chance and all of them ended up successful in the long run. to me I considered all of them still young even though some were younger than others. they also made a lot of money off of their first successful business.
   
   A disadvantage of being a young entrepreneur is when your young you have  a lot more people stay your not going to make it. And i think when your young that kind of talk can bring you down. Also being young you really don't have much of a support system except for your parents.

  I found Cameron Johnson story more interesting then the others, because he started his first business when he was 5 years old and that's very young. I also found how he got his ideas kind of interesting because he got them by trying figure out his own problem. And he seemed to always have new ideas like everyday. He was also smart. He knew what worked for him and what didn't, so his story was more interesting to me.

   I think Cameron Johnson and Ryan Blair will have much more years in their business just because the fact they both run online businesses. and to me people won't find another thing better than the Internet as of right now.

Types of business Ownership powerpoint

Types of business ownership alexis

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Partnership Agreement

  Jahleel McGowan and I have decide to start a partnership. The name of our new business is Next Flight Athletes Sport Shop. The purpose of us coming together is to make sure all athletes have the necessities they need to perform at their greatest. We both plan to have this business until we both feel like its time for us to retire. We both want to remain limited so that no boundaries are cross and so that to much work is not put on the other partner. Like I said earlier, so a lot of work is not placed on a partner we plan to split keeping records of the business. Half of the year he keep the records and the other half I take of it. We both want to be equally responsible for any losses or profits our business. For all of the profits that our business get we split it 50/50 so no one is able to get greedy with the money. If one of us was to die in the middle of  business we both agreed to allow somebody from the other family to come and take the place of their love one so that the business still go on and most importantly the other family still gets some type profit from the business. If any disagreements come about, we both want to sit down before/after hours and come to a reasonable decision that is best for our business. As for responsibilites of us both we want to be very flexible so that the business can run smoothly.

My Markert Research Analysis

Final version of my business alexis hawkins

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Market Research Analysis

http://www.kwiksurveys.com/?s=OIJENM_fe408bf6
 The purpose of this survey is for me  to get an idea of what type of customers my business is going to have and overall want they want from my business. After I get enough people to take the survey that allows me to understand what to have in my shop and at reasonable prices so people can afford them.

Market Research

  The basic role of the market research to me, is generally finding out who and what your customers want from a business, and what are the typical people you  can get to buy your good or service. For instant some people prefer to drive a hour and some minutes away to go to a mall, bakery store, or hair salon because of prices or even it feels more home to them. Using the 5 steps above helps you gather information so you know what to sell and what not sell.  

Chapter 3 Reflection :)

  Before We beginned this chapter, I had no idea what the eight entrepreneurial trends were. 1. Internet business conducting business online, 2. Service business intangible things that are done to make our life much easier, 3. Home-Based business conducting business from your house, 4. nonprofit business a business that does a job without a fee( giving back to the community), 5. Focus on tecnology, 6. outsourcing which is contracting with other business for a service, 7. Strategic Alliance two companies coming togather under on name and finally 8. Corporate Ventures which is a smaller business formung inside a lager  business. I knew what a franchise was but I didn't know that a business broker was the person to bring a franchisee which is the buyer and the franchisor which is the seller togather. I learned how McDonald's bacame famous because of Ray Kroc. I learned advantages of being in a family business, trudt, loyalty, and togatherness, but at the same time the disadvantages conflict and money.

My Franchise!

I franchise I chose to purchase is Jimmy John's Sand which Franchise. Jimmy John Liautaud started this business in 1983 in Charleston, Illinois in a garage. During the time jimmy John's opened, America was going through the Cold war, and jimmy wanted to create an affordable place where people could eat. Jimmy John's provide a fast food restaurant service. I chose this franchise because I keep hearing the commercial on the radio about how delicious and fast at delivering they are, and I really want to try their Sandwiches. Jimmy John's has over a thousand location in thirty- nine states.

   If somebody were to start a business today I believe they would try to start up a Strategic Alliance. I say that because to me if they do that they are already ahead of the game. Whoever they choose to make this alliance, that company is most likely already famous for their product and or service  and all the new business owner has to is introduce his/her product and or service and become famous also. This alliance will work if both partners know how to play their cards right. When I say that I mean split the profit fairly and don't get to stingy over the customers.The goal of this trend is to get more customers to buy their product so I chose this trend because this is the  smartest and quickest way to grad and keep customers because as long as both company's are together they both make money.  

Chapter 2 Reflection- The Potential of an Entrepreneur

    Before we did this chapter, I was already aware that anybody could be an entrepreneur if they had what it took. I didn't know the tweleve characterics of and entrepreneur which are risk-taking, goal-oriented, action-oriented, responsible,persistant, independent, restless, enthustatic, creative,  realistic, self-confident, and last but not least self-dmanding. We learned each of those in dept. I didn't know about the percentages like 62% had parents or realitives who owned business, or like 40% had high school diploma's or less and to me that seemed like a low number but I guess its not. I already knew about role-models because when kids are young they tend to state who they admire or look up to. I already knew about competition because a lot of businesses have rivaries,which they compete for customers. We also talked about the rewwards and the risk of entrepreneurs. The biggest reward to me is being your own boss because you don't have to be told what to do,and being creative because you get to use your own ideas and run your business how you want it to run. The biggest risk is losing investments because its not always guarented that you get all the money back that you placed in your business, and not spending a lot of time with your family because of late hours or work.

12 characteristics of an Entrepreneur

      I feel like the most needed characteristics is being responsible. Because I think If you lack that your setting yourself up for failure, and a person who is responsible says a lot about them. Like you can count on them or their very reliable to you.

Do I Have What It Takes to Become An Entrepreneur?

  On the self assessment we took, I scored a 77. So to my understanding I have the satisfactory ability to be an entrepreneur. Which to means I have the potential to become a successful entrepreneur. On the assessment I was completely honest and gave myself only seven 5, five 4, six 3, and one 1. The area I gave myself a one was in One or both of my parents were entrepreneurs because neither of my parents are, but I know my mother wish she could be. I gave myself a 3 in the first question because honestly I really don't believe I could do 50 hours a week regularly. My decision making isn't quite where it needs to be, but I 'm willing to get better at making good decisions. The very last question do I have good network of friends, professional, and business acquaintance I put a 4 because as of right now I do believe I'm hanging around a good crowd of friends who have similar goal as I do, which are making out of high school and graduating college and have a successful career.I placed a 5 in the area where I would take full responsibility for the success and failures of my business. I put that because my parents are teaching me when I do wrong it's nobody fault but my own. So I know when i get my business I have to keep that in my mind.

Why Be An Entrepreneur?

   Being an entrepreneur, allows you to have the opportunity to be you as you are. When I say that I mean, you can use your own thoughts and or ideas without consulting a boss, because you're your own boss. A lot of people who start their own business may not realize they have an affect on regular citizens, but they do. They inspire young ones to grow up and hopefully be as successful or maybe even more successful. Me personally I think entrepreneurs lead us more and more to the future. I say that because their ideas become more and more important as we get older.
   Entrepreneurs are independent and intelligent individuals. We can notice them when we see them because they carry a good composure. We may even see them riding around in luxury cars, living in big houses, or taking jets to their destinations. Entrepreneurs should be trustworthy, loyal, honest,determined, faithful to their career,smart,comitted, and most inportantly they ahve to be willing to take a risk.
    Everybody should know being an entrepreneur isn't easy because of all the ups and down they grow through. First they must find out what is a demand in our society and they must fullfil that need by creating the good or service wanted.Eventhough they can create their own schedule they still can come home late. They risk spending valauble time with their family.