Marketing Management Issues - Coursework Example

Controls on the other hand refer to the contingency measures or the plans to cushion the business against any unexpected event or mishap. These are the shocks to propel the business against any unseen tide or eventuality in the business cycle.

Target markets in the simplest and most basic sense refer to a specific and unique audience who would be targeted and aimed at by the business or the sellers. In principle, it refers to a unique audience of buyers who possess a unique quality and property which would interest the business or the sellers. A hypothetical case and instance could be expectant women who would be interested in buying clothes for their yet-to-be-born babies. Thus, expectant women would fall in the category of the target market. The market segment on the other hand refers to the differentiation of the whole market into smaller units that have similar characteristics. A market may be segmented or differentiated into smaller units in terms of geographical location, ages of the prospective buyers, or any other unique aspect which binds a group of buyers together.

Market segmentation ensures that a business gets an easy time in identifying the homogenous and common trends of that market. This is to say that people who have similar characteristics and likes over a product would be bundled together and strung in a pool. Therefore, they would help the business as a whole to estimate the sales expenses and projections. A hypothetical case and example are where customers or buyers in the same geographical area are bundled together in a segmented market. The business would be better placed to estimate and gauge accurately how to sell products there or the appropriate measures to take to ensure the business has maximum returns.

The financials in a business includes all the money records and trail of expenses in a business. It also includes all the money records such as sales and expenses inventories and the accounting books or balance sheets.

Cash flow- refers to the movement of money in terms of revenue earned and expenses incurred in the course of a business life. It is conventional knowledge that money would move once it is earned and distributed to pay for services and bills incurred. Profit, on its part, is the surplus that a business would remain with once all the operational costs are deducted from the total revenue earned by a business. Profit is the excess money or resources that a business earns once the expenses are deducted from the total revenue, and it is a show or determinant of whether a business can continue to sustain itself or not.

Pricing strategies on their part include the methods and techniques which a business would use to segregate and differentiate the level of prices to set for the goods or services (Zimmerer, Scarborough & Wilson, 2002). It could be informed by the disposition of the market, such that high-rise or wealthy areas would have relatively higher prices. The poorer market may then have subsidized prices to appreciate the economic reality of the market. Similarly, the type of the product may inform the pricing strategies, such as is, the product is exclusively unique or if there are other related products in the market which could offer competition to it.