Nichole Sario BSN 2

1. As an organization or enterprising entity engaged in commercial, industrial, or

professional activities. Business can be for profit entities or non-profit entities or
non-profit organizations that operate to fulfill a charitable mission or further a social cause.
Also refers to the organised effort and activities of individuals to produce and sell goods and
services for profit. Businesses range in scale from a sole proprietors to an international
corporation

2. Because it is the key to business success. It is the force that enables a business to have
greater focus, more sale, better profit margins, and higher customer and staff retention
than competitions

3. Owning a business is very appealing to people for many reasons--you get to be your own
boss, work with amazing people, create your own schedule and turn a passion into a career.
There is nothing easy about it, though

-An innovative business idea

-The right business idea
-The right talent
-Hardwork
-Sales

You need all of these to have a successful business in future.

4.Needs are things satisfy the basic requirements.

Demands are request for specific products that the buyer is willing and able to pay for.

Wants:
category products
Sector
Hospital industry

Needs:
Category products
Sector
Real Estate

Demands:
Cruises
BMW's
5 star hotel
The needs, wants and demands are a very important component of marketing because they
help the marketer decide the products which he needs to offer in the market

5. First step is identify your target audience. As entrepreneur should identify who are the
buyers of the certain products and services. Finding the target market, that it would meet
their needs and their demands. Next is Define Brand mission, this is about on creating an
mission statement on the business, like what are they gonna do or what was their plan
originally for the business. Embracing on it across channels. Next step is to research
competition. This is on how to convince buyers to buy the products and services. Knowing
the other brands that would compete in the market, especially on having the same products.
Also differentiating brands from others. That this would raise their awareness on what will
gonna do. Next is to create value propositions. Like what is the unique all about on the
brand. Putting on value on the brand and what does it benefits to the people. Next is the
Determine brand guidelines. Finding the best visual elements for the brand, finding the best
tone, and making strategies on it. Next is to market the brand. Like being true to the brand.
Finding the best strategies and opportunities to sell the products and services to the market.
Like being an integrate brand into every aspect.

Sources:

https://freshsparks.com/successful-brand-building-process/
https://www.marketing91.com/needs-wants-and-demands/
https://www.investopedia.com/terms/b/business.asp