1.4.4 Business Plans Flashcards
Business Plans
1
Q
Business plan
A
A document produced by a new or existing business that shows what its objectives are and how it will meet them
2
Q
Marketing mix
A
The ingredients needed to produce a marketing policy normally known as the 4Ps (product, price, place and promotion)
3
Q
Customer engagement
A
Communicating with customers in a positive way
4
Q
Post sales service
A
Following up with a customer after they have made a purchase to check that everything is “ok”
5
Q
External finance
A
Sources of money from outside of a business
6
Q
Internal finance
A
Where a business obtains funds from its own sources such as retained profits
