Marketing Essentials

Unit 11: Entrepreneurship and Finance

WebQuests

Businesses Buy Services, Too

The successful operation of every business, whether large or small, requires the completion of a wide range of functions that extend far beyond the production of the goods or services offered for sale. These include creating and implementing financial plans, risk management, and financial documentation. Many small entrepreneurs lack the skills needed to carry out all of these functions. They often choose to employ other individuals or businesses to complete these functions for them.

1. Investigate Begin the activity by researching online the kinds of basic services a small business might need to purchase in order to operate. Examples of these services could fall into the categories of business planning, risk management, or financial documentation. Find examples of advertisements placed in various media by businesses that offer these services, such as certified public accounting firms, banks, or insurance companies.
2. Summarize Write a summary of the advertisements' assertions of what they can help small businesses accomplish. What benefits do they offer? Do they discuss the pricing policies for their services? What evidence do they provide that they are qualified to provide the service?
3. Assess Explain why you think each advertisement you identified will or will not attract small businesses to the firm that placed the ad. Are any promises made regarding satisfaction? If you operated a small business, would any of the advertisements convince you to employ any of these firms to help you with functions that you are not qualified to carry out for yourself? Explain the logic behind you assessment.