The basic goal of integrated marketing communications is to

 

 

Security in a business does not motivate entrepreneurs. An entrepreneurs primary motivation to start a business is to be independent.

Equivalent units of production are equal to number of whole units that could have been completed if all work of the period had been used to produce whole units.

A sales commission is money your small business pays an employee when she sells your products or services to customers. Sales commissions are classified as selling expenses which come under Period costs. A period cost is any cost that cannot be capitalized into prepaid expenses, inventory, or fixed assets.

Effective sales management begins with determining sales goals. Effective sales management stems from a success-oriented sales force that accomplishes its mission economically and efficiently.

Sales promotion uses both media and non-media marketing communications for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability.

Sales promotions include Coupons, Rebates, Free Samples, etc... Online Ads come under advertising form.

SOP means Standard Operating Procedure.

A standard operating procedure is a set of step-by-step instructions compiled by an organization to help workers carry out complex routine operations. SOPs aim to achieve efficiency, quality output and uniformity of performance, while reducing miscommunication and failure to comply with industry regulations.

Every SOP must have the signature of the approving authority within your chain of command before it is a legal document.

Fixed cost per unit increases when production volume decreases. The fixed cost per unit does not always remain the same. Fixed cost per unit increases when production volume decreases and vice versa.

For a good that is a luxury demand tends to be elastic.