10 Must Read Small Business Articles
Posted under: We’ve compiled a list of 10 must read small business articles from wikipedia. If you are considering starting a business or are currently running one, here are some small business articles to read up on. All quotes are from their respective articles.
Word-of-mouth marketing
“is an unpaid form of promotion—oral or written—in which satisfied customers tell other people how much they like a business, product, service, or event. Word-of-mouth is one of the most credible forms of advertising because people who don’t stand to gain personally by promoting something put their reputations on the line every time they make a recommendation.”
Undercapitalization
“refers to any situation where a business cannot acquire the funds they need. An under-capitalized business may be one that cannot afford current operational expenses due to a lack of capital, which can trigger bankruptcy, may be one that is over-exposed to risk, or may be one that is financially sound but does not have the funds required to expand to meet market demand.”
Franchising
“is the practice of using another firm’s successful business model.”
Public relations
” is a field concerned with maintaining a public image for businesses, non-profit organizations or high-profile people, such as celebrities and politicians.”
Niche market
“is the subset of the market on which a specific product is focusing; therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact.”
Business Model
“describes the rationale of how an organization creates, delivers, and captures value – economic, social, or other forms of value. The process of business model design is part of business strategy.”
Marketing
“is used to identify the customer, satisfy the customer, and keep the customer.”
Accounting
“is the process of communicating financial information about a business entity to users such as shareholders and managers.”
Social Media
“media for social interaction, using highly accessible and scalable communication techniques. Social media is the use of web-based and mobile technologies to turn communication into interactive dialogue.”
Customer engagement
“refers to the engagement of customers with one another, with a company or a brand.”
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