Today we went over Chapter 5 and the beginning of Chapter 6. We decided names for our group business, Five Guys Who Drive is our business' name. We got out fairly early today so we could study for tomorrow's test and watch two videos and complete a worksheet for tomorrow.
Chapter 5 is about marketing mix and the 4 P's. Price, product, place, and promotion. We talked about how these four P's are important to your business' success. The rest of the chapter is evaluating your product to how it fits into your desired target market. Chapter 6 talks mostly about how you can reach your target market and see what they think of your product.
The two videos I watched for homework were both about how to start up businesses and who you can go far to get money to start them. The one I liked best was the one of the food truck owners, they seemed to have committed to their truck "That Food Truck." They talked about how hard and long it has taken them to work up to earning a profit.
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