What Questions Does the Small Business Owner Need to Answer

question 59

Essay

What questions does the small business owner need to answer in the developing of an advertising strategy?

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Definitions:

Responsiveness

The ability of a company, system, or process to quickly react to changes or customer needs.

Cost Savings

The practice of reducing expenses to improve profitability without compromising the quality or performance of goods and services.

Materials Requirement Plan (MRP)

A system for calculating the materials and components needed to manufacture a product, ensuring the right materials are available for production at the right time.

Independent Demand Items

Products for which demand is not influenced by the demand for other products, typically finished goods or spare parts.