BUAD301 Lecture Notes - Lecture 1: Walt Whitman, Startup Company, North American Industry Classification System
3 Apr 2018
School
Department
Course
Professor
1. 2/13/18
Walter Whitman-- “Start with a mouse trap and you’ll see the past”
Terms to know
1. Mission statement- this is who we are and what we do
2. Vision statement- where do we want to be
3. Business plan- how you will run your business to make a profit and pay off loans; used
especially for startup companies
4. Strategic plan- same as a business plan but aligned with existing companies
a. Objectives- specific goals
i. SMART (specific, measurable, achievable, realistic, time)
ii. Plan, execute, monitor, control for strategic planning
1. If an objective falls short, where did it go wrong?
Scanning the Marketing environment
● Figure 3-1 environment forces that affect organization, supplier, and customers
● Figure 3-2 environmental scan
Ethics
Chapter 5
● Cognitive buying → Something of value based on price and quality
○ Go to shoprite to buy food on sale
● Affect buying → something based on feeling
○ See a pair of jeans you like and just buy it
● Example: buy a car
○ Fuel efficiency-c
○ Price-c
○ Size-c
○ Dealership location-c
○ Luxury features-a
○ Color-a
○ Style-a,c
○ Safety-c,a
○ Handling-a,c
Exam 1
● Don’t read chapter 2 → brief on strategic planning
● 20 multiple choice; 1 short answer on ethics
3/6/18
Chapter 6
● NAICS: company’s each have codes
● Organizational buyers
find more resources at oneclass.com
find more resources at oneclass.com
