Research Task 4

 Task four:

A mission statement is a short statement of why an organization exists, what its overall goal is and identifying the goal of its operations. It also includes what kind of product or service it provides, its primary customers or market, and its geographical region of operation. These are very important for a business because it gives potential customers or shareholders a glimpse into what kind of business it goes into.

Brand positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors and different from the concept of brand awareness. Brands that stand out compared to other brands tend to do better than companies and brands that are not unique.

Value and drivers are characteristics of a business that either reduce the risk associated with owning the business or enhance the prospect that the business will grow significantly in the future. It is your job as the owner to create value within your business prior to a sale.

Their are a lot of ways companies/businesses can market themselves. Before they start marketing it is crucial that the company/business needs to identify their audience. For example Gucci only really advertise for the middle and upper class. It would be pretty pointless to advertise for the working class because they can't afford it. After a business has found it's target audience they need to find the best way to connect with them, for example if you're marketing towards the younger generation you are best to do most of your marketing through social media and similar platforms. If you're going towards the older generation. You are best off advertising in newspapers because older people are less likely to have social media accounts and more likely to read traditional things like newspapers. It is also beneficial that you know your business inside out so if anyone asks you questions you can answer knowing you know what you're on about.