BCOR 1015 Study Guide - Final Guide: Financial Accounting Standards Board, Brand Loyalty, Double Taxation
Document Summary
Sole propriotership- a business owned and operated by one individual. Single taxation- pay one tax on profit. Partnership- an association of 2 or more people who carry on as co- owners of a business. Combined skills and knowledge (specialization of specific jobs) Distribution of profits limited source of funds. C corporation- is a legal entity whose assets and liabilities are separate from its owners, corporations treated as individuals, public or private. Expansion potential limited liability transfer of ownership. Key issues in choice of form of business ownership include: Target markets- specific groups of consumers w/common characteristics on whom a company focuses its marketing efforts, market can be broad or narrow. Elements of marketing mix are interrelated and can be focuses on a target market. Apple offers a huge build up period opening up the box, they offer warranty, different products, colors. Total product offer includes: product/service itself, value enhancers.
