Acc 111 Notes

ACC 111 NOTES
S.Y. 2018-2019
Second Semester
Introduction to Resource Management

(January 26, 2019)
 Resource Management
o Efficient and effective deployment and allocation of an organization’s resources
when and where they are needed
o Resources may include
 Physical resources
 Production resources (labor, land)
 Financial resources (money, stocks, shares, any amount of currency, financial
instruments used to fund)
 Human skills
 Information technology
 Time
 Nature of Business and Organizations
o Forms of business organizations
 Profit
 Formed specifically to earn income for owners

 Non-profit
 Characteristics
o Mission is to undertake activities whose goal is not primarily
for profit, but to benefit the public
o Property and income is not distributed to the owners/officers
but are recycled back into the nonprofit
 Examples
o Homeowners’ associations
o Churches
o Educational organizations
o Hospitals and medical research organizations
o Ateneo de Manila University
 The core is not to make money; it is to educate
o Basic Forms of Business Organizations
 Sole proprietorship
 Owned by one person, usually a small business entity
 Pro: Easiest to set up
 Con: Unlimited liability (everything that happens, they are
interchangeable; no corporate barrier; if a company sues me, I’m
being sued for it)
 Partnership
 Owned by two or more persons who contribute resources into the
business entity
 Profits are divided amongst themselves (no other stakeholders to
think about)
 Two types
o General partnerships: All partners have unlimited liability
Notes by Ma. Victoria Danicita A. Leyble

Under the class of Ms. Albano
o Limited partnerships: Personal assets of owners are safe
from creditors
 Examples: Proctor & Gamble, Google
 Corporation
 Has a separate legal entity from its owners
 Ownership is represented by shares of stock
 Pro: Limited liability
 Con: Limited involvement in company’s operations
o Certain facets and pockets in the organization which you
cannot reach out
 Framework 1: PESTEL (Political, Economic, Social, Technological, Environmental, Legal)
o To analyze the external industry
o Example: Setting up shop akin to UNIQLO
o Identified issues that
 Are outside your organization
 Will have some level of impact on it
o Classification less important than identification
o Must be used regularly to maximize its benefit in identifying trends in the workplace
o Link to “OT” in SWOT; must be used in conjunction with other strategic frameworks
o Watchouts: Oversimplification and analysis paralysis (too fixated on the classification
when it should be the issues being missed)
o Political
 Government stability
 Employment and operational laws
 Consumer protection
 Trade restrictions or reform
 Tax regulations
 Corruption levels
 Bureaucracy
 Neighbor stability
o Economic: impact lending rates (e.g., general contractor wanting to rent a crane and
having to take note of interest rates)
 Inflation
 Finance and credit
 Interest rates
 Exchange rates
 Cost of living
 GDP and GNP
 Globalization (Could also be social)
o Social: Understanding your consumer and the factors involved
 Age distribution
 Population growth rate
 Employment levels
 Income statistics
 Education and career trends
 Attitudes and beliefs
 Social mobility
 Demographics
 Ethics and religion
 Historical issues
 Cultural and social conventions

o Technological: What goes in and out of the computer
 Can be classified under two
 Manufacture
 Infrastructure
 Automation
 Outsourcing
 Knowledge management systems
 Production efficiency
 Intellectual property
 Patents and licenses
o Environmental
 Infrastructure
 Weather
 Energy costs and availability
 Social implications
 Ecological consequences
 Contamination
o Legal: Anything to do with laws, bills, spending, etc. (e.g., cigarettes and their boxes)
 May be current or impending
 Taxation
 Employment
 Consumer
 Advertising
 Import/Export
 Healthy and safety
 Compliance
 Regulatory bodies
 PESTLE Analysis of Uber
o Political
 Need to make its stand clear about drivers’ insurance
 Have to follow minimum wage rules
 Have to have deal with bans in many countries
o Economic
 Easily accessible
 Affordable fare charges
 Offers job opportunities, but pay may not be convincing
o Social
 User friendly
 Quick pick up
 Gives better ride experience than taxis
o Technological
 Excellent mobile app for users
 Using social media, and other electronic media well for promotion
o Legal
 Need to prevent ban in many countries
 Need to follow labor and employee safety laws well
 Copyright laws need to be looked at as well
 Framework 2: Porter’s Five Forces Model
o Threat of new entrants
 The ease of entering a market
 Barriers to entry:

 Key intellectual property
o Technology
o Patents
 Cost of entry (investment needed)
 Specialist knowledge/expertise
 Economies of scale
 Regulations – government policies
 Customer loyalty to existing brands
 Industry profitability
o Threat of substitutes
 Factors
 Relative prices of potential substitute
 Relative performance of potential substitute
 Consumer’s propensity to substitute
 Perceived level of product differentiation
 Switching costs for buyer
 Ease of switching
 Number/availability of substitutes in the market
o Bargaining power of suppliers
 High supplier power when there are fewer for each key input
 Suppliers can charge really high, or refuse to work with you at all
 Factors
 Supplier switching costs relative to firm switching costs
 Uniqueness of their product or service
 Impact of input on cost and differentiation
 Number and presence of substitute supplies/suppliers
o Bargaining power of buyers (customers)
 Ability of customers to pressure the company, which also effects the former’s
price sensitivity
 High buyer power if many alternatives and if there are few, powerful
customers; low if they act independently
 Factors
 Buyer concentration to firm concentration ratio
 Price sensitivity of buyers
 Essentialness of product to buyer
 Buyer info availability
 Product differentiation: Uniqueness of industry products
o Intensity of rivalry within the industry (i.e. Industry rivalry)
 Rivalry/competition among existing firms is reflected through various tactics
(price competition, advertising, product innovations)
 Factors:
 Number and capability of competitors
 Industry growth
 Sustainable competitive advantage
 Customer loyalty
 Framework 3: SWOT
o Difference: First two frameworks are interchangeable; SWOT has a definite internal
side and a definite external side
o Match strengths and opportunities

 Example: I’m good at public speaking, so I’d like to coach other speakers
(What I know, with what I can do)
o Capitalize on opportunities
o Overcome weaknesses
o Minimize threats
 Framework 4: Resource-Based View
o The “inside-out” approach while analyzing the firm
o Internal resources and capability to be the starting point to gain and sustain
competitive advantage
 Competitive advantage  leverage or a superior position that a firm has over
its competitors gained by offering consumers something of superior value
o What to do?
 Look at what resources the firm possesses
 Assess their potential for value generation
 Define a strategy that will allow us to capture the maximum value in a
sustainable way
o Resources
 Factors needed to accomplish and activity or achieve a desired outcome
 Inputs into the production process
 Basic unit of analysis
 Basic categories
 Physical
 Financial
 Human
 Intellectual
o Capability
 Capacity for a team of resources to perform some task or activity
 Integrated set of resources that perform a task or activity
 Organizational capability is the ability to manage resources effectively in
order to an advantage over competitors
 Resource-based view
o Relies on
 Tangible (physical/touchable land, buildings, equipment, capital, stock
 But are often easily acquired by competitors
 Intangible – no physical presence: trademark, intellectual property,
copyright, licenses, brand reputation
 Usually are more unique or will stay with the company longer
o Must be
 Heterogeneous – resources or amount/mix of resources differ across
companies
 Immobile – resources do not easily or often transfer to other companies, so
replication of strategies take a long time
o Have a VRIO attributes to become VRIO resources that provide Competitive
advantage
 Valuable
 Help organizations increase the value to customers
 Increase differentiation or decrease costs of production
 Rare
 Can only be acquired by one or few companies
 Inimitable

 Costly to imitate or substitute due to history, complexity, or
ambiguity
 Cannot be easily copied
 Organized
 Resources per se are not enough
 Firm must be organized and capable to exploit the VRI resources
o Competitive disadvantage
 Not valuable
o Competitive equality/parity
 Valuable
o Temporary competitive advantage
 Valuable and rare
o Unused competitive advantage
 Valuable, rare, difficult to imitate
o Long-term competitive advantage
 Valuable, rare, difficult to imitate, organized
Resource Management
 Efficient and effective deployment and allocation of an organization’s resources when and
where they are needed
 Process of planning, allocating, directing, using coordinating, and controlling an
organization’s resources to attain a firm’s (long-term) goals effectively and efficiently
Types of Resources
 Physical Resources
o Tangible resources owned and used by the company
 Land, buildings, water, and water rights
 Machinery and manufacturing equipment
 Vehicles and distribution networks
 IT equipment and hardware
o Can be sold if the business is facing a cash flow issue
o Subject to depletion, shrinkage, and obsolescence (raw materials)
o Subject to depreciation or value gone down (physical capital equipment)
 Operations Management
o Transformation of input into output
o Supply chain management and logistics
o Involves management of:
 Product
 Location
 Design and layout of factory and offices, safety regulations, need and
cost of maintenance
 Factors: Rent cost, foot traffic, proximity to suppliers, wage rates,
accessibility
 Processes
 Available capacity and skills, layout of equipment
 Lead time, storage, transportation
 People
o Metrics in operations management
 Price – purchase price, service costs, maintenance cost, upgrade, disposal
cost
 Quality – specification and compliance

 Time – lead time, punctuality
 Flexibility – mix, volume
 Stock availability
 Ecological soundness – environmental impact
 Human Resources
o Organizational Structures
 Flat
 Better for smaller enterprises
 Decentralized decision-making process
 (+) self-autonomy and realization
 (-) power struggles
 Hierarchical
 Typically seen in governments, military, monarchy
 (+) defined levels of leadership and responsibility
 (-) Bureaucracy  sluggishness
o HR Department
 Generally in charge of the ff. functions:
 Staffing and hiring
 Training and development
 Compensation and benefits
 Performance management
 Engagement and retention
 Critical in ensuring that the company is equipped with the right minds and
bodies as dictated by the business strategies
o Human Capital Pool
 Stock of employee attributes that exist within a firm at any given point in
time
 Knowledge
 Skill
 Ability
 Can and does change over time, must be constantly monitored to match the
strategic needs of the firm
o Employee Relationships and Behaviors
 Recognizes individuals as cognitive and emotional beings who possess free
will
 Human capital: firms do now own it, individuals do
 Vision + Mission
o Each statement—a mission statement, a vision statement and a values statement—
has its own distinct function in the strategic planning process
 A vision statement describes the organization as would appear in a future
successful state
 A mission statement explains the company’s or departments’ reason for
existence
o Vision
 Outcome: what is our ultimate goal?
 Unequivocal: what powerful statement are
o Mission
 Key market: target audience
 Contribution: product or service provided
 Distinction: what makes you unique
 Financial Resources

o Ability of a business to finance its chosen strategy
o Assess existing funds and ability to raise new funds in order to finance its objectives
o Funding: own revenues and outside financing (crowdfunding, equity investors, bank
loans, government grants)
o Accounting
 A system that provides information on the ff in order make decisions
 Amounts of resources
 How resources were financed
 Results achieved by using resources
 Process of
 Identifying
 Measuring
 Communicating
 For either
 Parties inside or outside of organization
 Profit and nonprofit organizations
o Financial Statements
 Used in making decisions
 Easily comprehensible
 2 kinds:
 Stock/resources and obligations at a point in time
o Balance sheet – “as of”, assets, liabilities, capital
 Flow/activity over a period of time:
o Income statement – “for the year of”, revenues, net profits
o Statement cash flow
 Balance sheet
 Point in time or status reports
 Contains
o Assets – resources you have (i.e. provide future benefits)
 Cash or convertible to cash
 Goods to be sold for cash
 Items to be used to generate cash
o Liabilities
 Obligations to transfer asset or provide services to
outside parties (creditors)
 Arising from the past transaction
o Owners’ equity
 Amount owner invested in entity
 2 sources of OE
 Amounts provided directly by equity
investors (paid-in-capital)
 Amounts retained from earnings (retained
earnings)
 Fundamental Accounting Equation:
 Assets = Liabilities + OE
o LHS = RHS
o Resources = obligation ns to creditors or claims on
resources +residual claim
o Resources = financed by creditors + financed by owners
 Net Assets = Owners’ Equity

 Every accounting transactions has an equal effect on both sides of
equation
 E.g. Purchase 20,000 car with cash
o Increased asset, decreased asset
 Income Statement
 Shows changes in OE or Retained Earnings from operations of
business
 Amount added to RE is called income
 Revenues-Expenses = Net income
o Sales revenue = amount for product sold to customers during
accounting period
o Gross margin = Sales revenue – Cost of sales
Introduction to Marketing
 What is marketing?
o A process by which companies create value for customers and build strong
customer relationships to capture value from customers in return
o Goals
 Attract new customers by promising super value
 Retain and grow existing base by delivering satisfaction
 Marketing Process
o Create value for customers and build relationships
 Step 1. Understand the marketplace and customer needs and wants
 Market: set of potential and actual buyers of the product
 Market offerings: what the products/services they sell
 Marketing myopia: focus on existing wants of customers; narrow too
much
 Step 2. Design a customer-driven marketing strategy
 Marketing management is the art and science of choosing target
markets and building profitable relationships with them
o Target Market: What customers will we serve?
o Value Proposition: How can we best serve these customers?
 2a. Selecting customers to serve
o Market segmentation refers to dividing the markets into
segments of customers (e.g. SES)
o Target marketing to which segments to go after
 2b. How then can we best serve these customers?
o You can’t please everybody. You can’t serve them equally
well.
o Choosing a value proposition: A set of benefits or values a
company promises to deliver customers to satisfy their
needs; why buy your brand rather than a competitors?
 Customer-relevant: explains how your product
solves customers’ problems or improves their
situation
 Quantified value: delivers specific benefit/s
 Uniquely differentiated: tells the ideal customer
why they should buy from you and not from the
competition
 Example: Uber “tap the app, get a ride”, iPhone
 Marketing Management Orientations

o Productions concept
 Consumers will favor products that are available and
highly affordable
 Focus on high production efficiency, low prices, and
mass distribution
 Runs the risk of focusing too much on internal ops,
although useful in some situations
o Product Concept
 Consumers favor products that offer the most
quality, performance, and features
 Focus is on continuous product improvements – but
is it the only product that can address the consumer
need?
o Selling Concept
 Consumers will not buy enough of the firm’s product
unless it undertakes a large scale selling and
promotion effort
 Risk of creating one-off sales transactions rather
than long-term relationships
o Marketing Concept
 Knowing the needs and wants of the target markets
and delivering the desired satisfactions better than
competitors do
 Sense and respond, not just make and sell
 Market-driven and market-driving
 Transportation – cars from carriages
 Tablets from PCs
o Societal Concept
 Deliver value to customers in a way that maintains or
improves both the consumer’s and society’s well-
being
 Sustainable marketing
 Shared value
 E.g. Toms, Human Nature, cruelty-free, The Body
Shop
 Designing a Customer-Driven Marketing Strategy
 Consumer, society, company (profit)
 Step 3. Construct an integrated marketing program that delivers superior
value
 Preparing an Integrated Marketing Plan and Program
o The marketing mix: set of tool (4Ps) the firm uses to
implement its marketing strategy. It includes product, price,
promotion, and place
o Integrated marketing program: comprehensive plan that
communicates and delivers the intend value to chosen
customers
 Step 4. Build profitable relationships and create customer delight
 Consumer Relationship Management (CRM)
o Overall process of building and maintaining profitable
customer relationships by delivering superior customer
value and satisfaction

o Deals with all aspect of acquiring, keeping, and growing
customers
 Club marketing program: create communities that offer members
special benefits
o The more they are satisfifed, the more they stay
o E.g. Del Monte Kitchenomics (?)
 Frequency Marketing Programs: reward customers for more visits,
purchase (gamifying)
o E.g. Mabuhay Miles card, SM Advantage Card
 Consumer-generated marketing
o Capture value from customers in return
 Step 5. Capture value from customers to create profits and customer equity
 Share of customer is the portion of the customer’s purchasing that
a company gets in its product categories
o E.g. Milk Duds gets 1/20 in the share of the basket
 Customer lifetime value is the value of the entire stream of
purchases that the customer would make over a lifetime of
patronage
 Customer equity is the total combined customers lifetime values of
all the company’s customers
o right relationships with the right customers involves treating
customers as assets that need to be managed and
maximized
o different types of customers require different relationships
management strategies
Profitability Butterflies True Friends
Strangers Barnacles
Loyalty
 The Changing Marketing Landscape: Digital Age
o What are the sections in a newspaper?
o What’s the first map you consult for driving directions?
o What is snail mail?
o There’s a weatherman?
o What do you mean, we couldn’t being watch shows on
demand before? What’s LimeWire? What’s Napster?!
 Online marketing is the fastest-growing, and why click-and-mortar
companies evolved
o Worsening traffic conditions
o Working digital natives
o Improving network connectivity
 Marketing is everywhere, even in religion
o Televangelists
 Customer value and satisfaction expectations
o Underselling yourself and overperforming to impress customers
o Customers:
 Value and satisfaction
o Marketers:
 Set the right level of expectations
 Not too high or low
Managing Marketing Information to Gain Customer Insights

(February 23, 2019)
 Developing Marketing Information
o Marketers obtain information from:
 Internal data bases
 Electronic collections of consumer and market information obtained
from data sources within the company network
 E.g. website visit, customer satisfaction, sales transaction, service
problems, customer characteristics
 Marketing intelligence
 Systematic collection and analysis of publicly available information
about consumers, competitors, and developments in the
marketplace
 E.g. Research behind placements in shelves
 Marketing research
 Systematic design, collection, analysis, and reporting of data
relevant to a specific marketing situation facing an organization
 E.g. consumer motivation, purchase behavior, market potential,
effectiveness of pricing/promotional strategies
 Steps in the Marketing Research Process
o Defining the problem and research objectives
o Developing the research plan for collecting information
o Implement the research plan—collecting and analyzing the data
o Interpreting and reporting the findings
 Research plan includes
o Management problem (e.g di binibili si P200 burger)
o Research objectives (e.g. size of burger? Taste?)
o Information needed (4Ps)
o How the results will help management decisions
o Budget
 ~Php2,000 per interview
 Developing the Research Plan
o Secondary data consists of information that already exists somewhere, having been
collected for another purpose
 Nielsen – marketing research agency
 Euromonitor – release detailed report about different industries
 Internet
o Primary data consists of information gathered for the special research plan
 Marketing Research
o Planning primary data collection
o Research approaches
o Contact methods
o Sampling plan
o Research instruments
 Research Approaches
o Observational research involves gathering primary data by observing relevant
people, actions, and situations
 E.g. traffic patterns, locations of competitors, social listening
o Ethnographic research involves sending trained observers to watch and interact
with consumers in their natural environment
 How stores track shopping behavior (Video)
 Research approaches

o Survey research most widely used method and is best for descriptive information—
knowledge, attitudes, preferences, and buying behavior
 Flexible
 People can be unable or unwilling to answer
 Gives misleading or pleasing answers
 Privacy concerns
o Experimental research is best for gathering causal information—cause-and-effect
relationships
 Contact Methods
o Focus Groups
 Six to 10 people
 Trained moderator
 Challenges
 Expensive
 Difficult to generalize from small group
 Consumers not always open and honest
 Online Contact Methods
o Internet surveys
o Online panels
o Online experiments
o Online focus groups
 Sampling Plan
o Sample is a segment of the population selected for marketing research to represent
the population as a whole (n = at least 30)
 Who is to be studied?
 How many people should be studied?
 How should the people be chosen?
 Research Instruments
o Questionnaires
 Most common
 In person, by phone, online
 Flexible
 Research must be careful with wording and ordering of questions
 First question: create interest
 Last part: difficult or personal questions
 Types:
 Closed-ended: include all possible answers, and subjects make
choices among them
o E.g. multiple choice and scale
o Provide answers that are easier to interpret and tabulate
 Open-ended: allow respondents to answer in their own words
o What is your opinion of KFC?
o What are your most important consideration in choosing
restaurants?
o Useful in exploratory research
o Mechanical Instruments
 People meters
 Checkout scanners
 Neuro-marketing
  Mechanical devices
 Implementing the Research Plan

o Collecting the information
o Processing the information
o Analyzing the information
o Interpreting the findings
o Draw conclusions
o Report to management
 Consumer Insights
o Fresh understanding of customers and the marketplace derided from marketing
information that becomes the basis for creating customer value and relationships
o Deep dive into customer needs and wants
o Difficult to obtain
o A truth/true dilemma that everyone (every target consumer) feels
o An “aha” moment
 Model of Consumer Behavior
o Consumer buyer behavior: the buying behavior of final consumers, individual and
households, who buy goods an services for personal consumption
 Factors influencing consumer behavior
o Cultural
 Culture: learned values, perceptions, wants, and behaviors from family and
other important institutions in their society and is the most basic cause of a
person’s wants and behaviors
 Subculture:
 Groups of people with shared value systems based on common life
experiences and situations
 Include nationalities, religions, racial groups, and geographic regions
 Social class: society’s relatively permanent and ordered divisions whose
members share similar values, interests, and behaviors
 Measured by a combination of occupation, income, education,
wealth, and other variables
 Can sometimes be fixed and rigid (Caste system), but in most cases,
up/downward movement is not impossible
o Social
 Word-of-mouth influence and buzz marketing
 Opinion leaders are people within a reference group who exert social
influence on others
 Also called influential or leading adopters
 Marketers identify them to use as brand ambassadors
 Online Social Networks are online communities where people socialize or
exchange information and opinions
 Include blogs, social networking sites, virtual worlds
 Reference groups
 Family: most important consumer-buying organization in society
 Husband-wife dynamic, children’s influence
 Roles and status: groups family, clubs, and organizations that a person
belongs to that can define role and social status
o Personal
 Age and life cycle stage
 Occupation: affect the goods and services bought by consumers
 Economic situation: includes trends in personal income, savings, interest
rates
 Lifestyle: person’s pattern of living as expressed in his or her psychographics

 Measures a consumer’s AIO (activities, interests, opinions) to capture
information about a person’s pattern of acting and interacting in the
environment
 Personality and self-concept: the unique psychological characteristics that
lead to consistent and lasting response to the consumer’s environment
 Match brand personality to the target market
o Psychosocial
 Motivation: a need that is sufficiently pressing enough to direct the person
to seek satisfaction
 Perception: the process by which people select, organize, and interpret
information to form a meaningful picture of the world from three perceptual
processes
3 perceptual processes:
 Selective attention is the tendency for people to screen out most of
the information to which they are exposed
 Selective distortion is the tendency for people to interpret
information in a way that will support what they already believe (e.g.
anti-vaxxers, global warming)
 Selective retention is the tendency to remember good points made
about a brand they favor and forget good points about competing
brands
 Learning
 Beliefs and attitudes
 Customer-Driven Marketing Strategy: Creating a Value
o Market segmentation – requires dividing market into a smaller segments with
distinct needs, characteristics, or behavior that might require separate marketing
strategies or mixes
o 4 ways to segment
 Geographic – divides the market into different geographical units such as
nations, regions, states, cities, or neighborhoods
 Demographic – divides the market into groups based on variables such as
age, gender, family size, family cycle, income, occupation, education,
religion, race, generation, and nationality
 Age and Life-Cycle Stage – process of offering different products or
using different marketing approaches for different age and life-cycle
groups
o E.g. Jell-O to kids as a fun snack, to adults as a guilt-free
indulges
o Must be careful of stereotypes – age ≠ life stage
 Gender Segmentation divides the market based on sex (male or
female)
 Income segmentation divides the market into affluent, middle-
income, or low-income consumers
 Psychographic – divides buyers into different groups based on social class,
lifestyle, or personality traits
 Behavioral – divides buyers into groups based on their knowledge, attitudes,
uses, or responses to a product
 Occasions
 Benefits sought
 User status – non, ex, potential, first-time, regular uses
 Loyalty status

o Multiple Segmentation Bases
 Multiple segmentation is used to identify smaller, better-defined target
groups
 PRIZM NE classifies every American household into 66 unique
segments
o Requirements for effective segmentation
 Measurable
 Accessible – be able to talk to these people
 Substantial – have enough people for you to sell your things
 Differentiable – talk to different markets differently
 Actionable – be able to sell to these people
 Selecting Target market Segments
o Target market consists of a set of buyers who share common needs or characteristics
that the company decides to serve
o Undifferentiated marketing targets the whole market with one offer
 Mass marketing
 Focuses on common needs rather than what’s different
o Differentiated marketing targets several different market segments and designs
separate offers for each
 Goal is to achieve higher sales and stronger position
 More expensive than undifferentiated marketing
o Niche marketing targets a small share of a large market
 Limited company resources
 Leverages on greater knowledge of the market
 More effective and efficient
o Micromarketing is the practice of tailoring products and marketing programs to suit
the tastes of specific individuals and locations
 Local marketing involves tailoring products and marketing programs to the
needs and preferences of individual customers
 Individual marketing involves tailoring brands and promotion to the needs
and want of local customer groups (Cities/Neighborhoods/Stores)
 E.g. Katipunan NBS would have more textbooks
 Socially Responsible Target Marketing
o Benefit customers with specific needs
o Concern for vulnerable segments (e.g. children)
o Concern is not who, but how and for what
 Controversies arise when marketers attempt to profit at the expense of
targeted segments – when they unfairly target vulnerable segments or target
them with questionable products or tactics
 Differentiation and Positioning
o Product position is the way the product is defined by consumers on important
attributes – the place the product occupies in occupies in consumers’ minds relative
to competing products
 Perceptions
 Impressions
 Feelings
o Competitive advantage is an advantage over competitors gained by offering
consumers greater value, either through lower prices or by providing more benefits
that justify higher prices
 Product differentiation
 Service differentiation

 People differentiation
 Image differentiation
 Selecting an overall Positioning Strategy
o Value proposition is the full mix of benefits upon which a brand is positioned
 Communication and Delivering the Chosen Position
o Designing the marketing mix involves working out the tactical details of the chosen
positioning strategy
Integrated Marketing Pro

 What is a Product
o Product is anything that can be offered in a market for attention, acquisition, use or,
or consumption that might satisfy want or need
o Service is a product that consists of activities, benefits, or satisfaction that is
essentially intangible and does not result in the ownership of anything
o Experience represent what buying the product or service will do for the customers
  Companies now focus on creating and managing customer experiences
with their brands or company
 Levels of Products and Services
o Core customer value – what is a customer really buying?
o Actual product – brand name, feature, quality level, design, packaging
o Augmented product – delivery and credit, product support, warranty, after-sale
service
 Consumer Products – for personal consumption
o Classified according to
 Convenience products – fast to buy (e.g. newspapers, candy, fast food)
 Shopping products – need more time and research (e.g. furniture, cars,
appliances)
 Specialty product – more niche, not always a need/are different (e.g.
medical services, designer clothes, higher-end electronics)
 Unsought products – people don’t wanna buy these (e.g. life insurance,
funeral services, blood donations)
 Types of Marketing stuff
o Organization Marketing (e.g. IBM around the city)
o Person marketing consists of activities undertaken to create, maintain, or change
attitudes and behavior of target consumers toward particular people
o Place marketing (e.g. I❤️NY)
o Social Marketing – promotes issues (e.g. anti-smoking)
 Individual Product and Service Decisions
o Product attributes – communicate and deliver the benefits
 Quality
 Features
 Style and design
o Branding – name, term, sign, and/or design identifies the seller of a product/service,
and represents associations a buyers attaches to it
o Packaging – involves designing and producing the container or wrapper for a product
o Labeling – identify the product or brand, describe attributes, and provide promotion
o Product support services – augment actual products as part of the crucial aftersales
process
o **Product line - a group of products that are closely related because they function
in a similar manner, are sold to the same customer groups, are marketed through the
same types of outlets, or fall within given price ranges

 Beer
 Shampoo
 Milk
 *For paper, look for donors as our interviewees and justify to them why there is a need for the
app
 Service Marketing
o Types of Service Industries
 Government – hospitals, police and fire departments
 Not for profit – museums, churches, colleges
 Business orgs – airlines, banks, hotels, medical practices, telco industries
o Marketing Strategies for Service Firms
 Managing Service differentiation creates competitive advantage from the
offer, delivery, and image of the service
 Offer can include distinctive features (e.g. 24/7 gyms)
 Deliver can include more able and reliable customer contact people,
environment, or process (e.g. online banking)
 Image can include symbols and branding (e.g. GEICO gecko)
 Managing service quality provides a competitive advantage by delivering
consistently higher quality than its competitors
 Service quality can be better defined by rate of return, and varies
depending on interactionism between employees and customers
 Service recovery is key
o New Products – how you get more market share or attract customers
 New product Development Strategy
 Two ways to obtain new product:
o Acquisition – refers to the buying of a whole company, a
patent, or a license to product someone else’s product
o New Product Development – refers to original products,
product improvements, product modifications, and new
brands developed from the firm’s own research and
development
o Major Stages in New Product Development
 Major Stages
 Idea generation
o Internal and external sources
o Crowdsourcing
 Idea screening
o R-W-W screening Framework
 Is it real?
 Can we win?
 Is it worth doing?
 Concept development and testing
o Testing new-product concepts with groups of target
consumers (based from FGDs, phone calls, etc.)
 Marketing strategy development
o Refers to the initial marketing strategy for introducing the
product to the market
 Business analysis
o Involves a review of the sales (project based on available
historical data), costs (all expected and actual), and profit

projections to find out whether they satisfy the company’s
objectives and whether the product is financially attractive
 Product development
o Involves the creation and testing of physical versions by the
R&D or engineering depts
o Shows whether the product idea can be turned into a
workable product
o Prototypes must have functional features + convey
intended psychological characteristics
 Test marketing
o The stage at which the product and marketing program are
introduced into more realistic marketing settings
 Provides the marketer with experience in testing the
product and entire marketing program before full
introduction
 Commercialization
o When to launch, considering seasonality, economy, other
business priorities
o Where to launch – the entire country? Metro Manila only?
o Product Life-Cycle Strategies
 Product development: Sales are zero and investment costs amount
 Introduction: slow sales growth and profits are nonexistent because of high
expenses in distribution and promotion
 Growth: rapid market acceptance and increasing profits; economies of scale
 Maturity: slowdown in sales growth because product has achieved
acceptance by most potential buyers and profits level off or decline because
of cost to defend against competition
 Maturity Stage Modifying Strategies
o Marketing mix modifying – changing one or more
marketing mix elements
o Product modifying – changing characteristics such as
quality, features, style or packaging to attract new users
and inspire more usage
o Market modifying – increase consumption by finding new
users and segments
 Decline: sales fall off and profits drop
 Maintain the product – breathe new life into it, e.g. Old Spice,
Converse
 Harvest the product – reduce various costs, hoping sales will hold up
 Drop the product – sell to other firm or liquidate at salvage value
o Maturity Stage Modifying Strategies
 Marketing mix modifying – changing one or more marketing mix elements
 Product modifying – changing characteristics such as quality, features, style
or packaging to attract new users and inspire more usage
 Market modifying – increase consumption by finding new users and
segments
 Promotion
o Branding Strategy: Building Strong Brands
 A powerful brand has HIGH BRAND EQUITY
 The differential effect that knowing the brand name has on customer
response to the product or its marketing

 Four factors
 Differentiation – how is it different from the others
 Knowledge – people has to know what it is
 Relevance – has to make sense to customers
 Esteems – have you at high esteem
 Brand positioning
 Brand strategy decisions include
o Product attributes
o Product benefits
o Product attributes
o A brand is the company’s promise to deliver a specific set of
features, benefits, services, and experiences, consistently to
buyers
 Brand Name Selection
o Suggest benefits and qualities
o Easy to pronounce and remember
o Distinctive
o Extendable
o Translatable for the global economy
o Legally protectable
 Brand sponsorship
o Manufacturer’s brand (Silk)
o Private brand (Trader Joe’s, SM brands as a low-cost
alternative )
o License brad (Disney)
o CO-brand (Tim Hortons-Cold Stone)
 Product Category
Product Category
Existing New
Brand Existing Line extension Brand
Name extension
New Multibrands New brands
 Price
o Def. the amount of money charged for a product or service. It is the sum of al the
values that consumers give up in order to gain the benefits of having or using a
product or service
o Major Pricing Strategies
 Consumer perception value
 Price ceiling – no demand above this price
 Competition and other external factors
 Competitors’ strategies and prices
 Marketing strategy, objective, and mix
 Nature of the market and demand
 Product costs
 Price floor – no profits below this price; dictated by product cost
o Customer Value-Based Pricing
 Value-based pricing uses the buyers’ perceptions of value, not the sellers’
cost, as the key to pricing
 Price is considered before the marketing program is set
 Good value ≠ Low price
 Types of value-based pricing

 Good-value pricing: offers the right combination of quality and good
service at a fair price
o Everyday low pricing (EDLP) charging a constant everyday
low price with few or no temporary price discounts (e.g.
Super 8, Daiso, Walmart)
o High-low pricing charging higher prices on an everyday
basis but running frequent promotions to lower prices
temporarily on selected items (e.g. SM Sales)
 Value-added pricing attaches value-added features and services to
differentiate offers, support higher prices, and build pricing power
(e.g. IMAX)
 Cost-based pricing setting prices based on the costs for producing,
distributing, and selling the product plus a fair rate of return for effort
and risk
o Cost-based pricing adds a standard markup to the cost of the
product
o Fixed cost (overhead) are the costs that do not vary with
production or sales level
 Rent
 Heat
 Interest
 Executive salaries
o Variable costs are the costs that vary with the level of
production
 Packaging
 Raw materials
 Direct labor costs
 Break-Even Analysis and Target Profit Pricing
 Break-even pricing is the price at which total costs are equal to total
revenue and there is no profit
o Break even points in units = fixed costs/(sales price per unit-
variable cost per unit)
o Break even point = (sales price per unit)(break even point in
units)
 Target return pricing is the price at which the firm will break even or
make the profit it’s seeking
o Competition-based pricing
 Setting prices based on competitors’ strategies, costs, prices, and market
offerings
 Consumers will base their judgements of a product’s value on the prices that
competitors charge for similar products
 Considerations:
 Competition
o Pure competition – many buyers and sellers trading in a
uniform commodity, such as wheat, copper, or financial
securities
o Monopolistic competition – market consists of many buyers
and sellers who trade over a range of prices rather than a
single price
o Oligopolistic competition – few sellers who are highly
sensitive to each other’s pricing and marketing strategies

o Pure monopoly – the market consists of one seller
 Price elasticity
o The demand curve shows the number of units the market will
buy in a given period at different prices
 Normally, demand and prices are inversely
proportional: higher price = lower demand
o For prestige (luxury) goods, higher price can equal higher
demand when consumers perceive higher prices as higher
quality
 Place
o Types of stores
 Specialty stores – specific types (e.g. healthy stuff)
 Department stores – arrange products across different categories
 Supermarkets – generally groceries, etc.
 Convenience stores – 24 hr running, more expensive
 Sari-sari stores – localized, #1 trade channel, can’t buy in bulk
 Service retailer – more service-oriented (e.g. car shops)
 Non-Retail Channels
 Direct reselling (e.g. Avon ladies)
 Online Website/Mobile App
o Availability/Accessibility as a branding tool
 More ways customer to reach you, higher sales
 Promotions
o The Promotion Mix/Marketing Communications Mix
 is the specific blend of advertising, sales promotion, public relations,
personal selling, and direct marketing tools that the company uses to
persuasively communicate customer value and build customer relationships
o Advertising
 Any paid form of non-personal presentation and promotion of ideas, goods,
or services by an identified sponsor
 Includes TV, radio, print, digital, outdoor, merchandising, and other
form
 An advertising objective is specific communication to be tasked to be
accomplished with specific target audience during a specific time
o Setting advertising objectives
 Informative advertising: used when introducing a new product category to
build primary demand (i.e. we have this feature and that)
 Persuasive advertising: important with increased competition to build
selective demand (i.e. we’re better because of this feature)
 Reminder advertising: important with mature products to help maintain
customer relationships and keep customers thinking about the product
o Developing Advertising Strategy
 Advertising strategy is the strategy by which the company accomplishes its
advertising objectives and consists of:
 Creating advertising message – ads need to break through the clutter
 Selecting advertising media
 How? Steps:
 Planning the message strategy
o The general message that will be communicated to
consumers (ex. McDonald’s milkshakes are from real milk)
o Identifies consumer benefits

o Follows from company’s broader positioning and customer
value creation strategies
 Develop a creative concept or BIG IDEA
o The idea that will bring the message strategy to life and
guide specific appeals to be used in an advertising campaign
o Characteristics of the appeals include:
 Meaningful
 Believable
 Distinctive
 Turning the big idea into actual ad execution, also known as message
execution
o The creative team must find the best approach style, tone,
words, and format for executing the message that will
capture the target market’s attention and interest
 Creating the Advertising Message
 Message execution also includes: tone (positive/negative),
attention-getting words, format (illustration, headline, copy)
 Selecting Advertising Media
 Major steps include:
o Electing media types
o Deciding on media timing
o The Promotion Mix
 Personal selling – personal presentation by the firm’s sales force for the
purpose of making sales and building customer relationships
 Public relations – involves building good relationships with the company’s
various publics by obtaining favorable publicity, building up a good corporate
image, and handling or heading off unfavorable rumors, stories, and events
 Press releases, sponsorships, special events
 Direct marketing – involves making direct connections with carefully
targeted individual consumers to both obtain an immediate response and
cultivate lasting relationships through use of direct mail, telephone, direct-
response television, email, the Internet to communicate directly with specific
consumers
 Catalog, telemarketing, kiosks
 Sales promotion is the short-term incentive to encourage the purchase or
sale of a product or service now
o Integrated Marketing Communications
 The integration by the company of its communication channels to deliver a
clear, consistent, and compelling message about the organization and its
brands

o Steps in Developing Effective Marketing Communication
 Identify the target audience
 Determine the communication objectives
 Design the message
 Choose the media
 Select the message source
o Determining the Communication Objectives
 Marketers seek a purchase response that results from a consumer decision-
making process that includes the stages of buyer readiness
 Process:
 Awareness
 Knowledge
 Liking
 Preference
 Conviction
 Purchase
o Designing a message
 AIDA Model
 Get Attention
 Hold Interest
 Arouse Desire
 Obtain Action
 Message content is “what to say”
 Rational appeal relates to the audience’s self-interest
 Emotional appeal is an attempt to stir up positive or negative
emotions to motivate a purchase
 Moral appeal is directed at the audience’s sense of right and proper
 Message format is “how to say it”
o Choosing Media
 Personal Communication involves two or more people communicating
directly with each other
 Control of personal communication
o Company
o Independent experts
o Word-of-mouth – usually comes from the “buzz”

 E.g. influencers/YouTube creators more than
traditional celebrities
 Non-Personal Communication Channel
 Major media includes print, broadcast, display, and online media
 Events are staged occurrences that communicate messages to
target audiences
o Press conferences
o Grand openings
o Exhibits
o Public tours/concerts
o Selecting the message sources
 The message’s impact on the target audience is affected by how the
audience views the communicator
 Celebrities (e.g. athletes, entertainers)
 Professionals (e.g. health care providers)
o Socially Responsible Marketing Communication
 Communicate openly and honestly with consumers and resellers
 Avoid deceptive or false advertising
 Avoid bait-and-switch advertising
 Conform to all federal, state, and local regulations
 Follow rules of “fair competition”
 Do not offer bribes
 Do not attempt to obtain competitors’ trade secrets
 Do not disparage competitors or their products
DEMAND ANALYSIS
(March 30, 2019)
 Research done to estimate customer demand for a marketing offering. It aids in forecasting
your sales and revenues, and the resources necessary
 Simply put: How do you compute for the number of units you can really sell, so you can
plan accordingly for it?
 Factors in determining your demand:
o Basic demographics statistics—age, gender
o Geographic considerations
o Industry size
o Primary market research
 Willingness to buy
 Willingness to pay
 At what price point
o Take-up rate
o Seasonality – swimwear launched in summer, not winter
o Competitive landscape – how are your competitors doing
o *Consider industry or demographics growth for when you plan future sales
ACCOUNTING
 Financial Resources
o Ability of a business to finance its chosen strategy
o Assess existing funds and ability to raise new funds in order to finance its objectives
o Funding: own revenues and outside financing (crowdfunding, equity investors, bank
loans, government grants)
 Accounting

o A system that provides information on the ff in order make decisions
 Amounts of resources
 How resources were financed
 Results achieved by using resources
o Process of
 Identifying
 Measuring
 Communicating
o For either
 Parties inside or outside of organization
 Profit and nonprofit organizations
 11 Basic Concepts MEG-CD-CAR-MCM
o Money measurement
 Accounting records are kept in monetary terms, not physical units, at value
at the time transactions (which can be recorded in terms so money) are
recorded
 You record the monetary value of two cows, not “two cows”
specifically
 Limitations: Can’t be valued, can’t be recorded; e.g. president’s
health, strikes
o Entity
 Assumes that business has distinct and separate entity from its owners.
Thus, for the purpose of accounting, business and its owners are to be treated
as two separate entities
 One entity may be part of a larger entity
 General Electric Company presents one set of financial statements
with parent company operations combined with all subsidiaries
around the world
o Going Concern
 Assumes that a business will continue to carry out its operations
indefinitely for a fairly long period of time) and would not be liquidated in
the near future
 Alternative assumptionz: liquidation/bankruptcy
o Cost
 All assets are recorded in the book of accounts at their cost price, which
includes cost of acquisition, transportation, installation, and making the
asset ready for use (even the interest)
 Assets:
 Economic resources
 Cash or something that helps generate cash (e.g. land, buildings)
o Dual Aspect
 Every transaction has a dual or two-fold effect on various accounts and
should therefore be recorded a two places
 Assets = economic resources
 Equities = claims against assets
 Liabilities = claims of creditors
 Owners’ equity (shareholders’ or stockholders’ equity for a
corporation)
 Dual impact:
 Results in maintenance of fundamental accounting equation:
ASSETS = LIABILITIES + OE

o You bought cows for P20,000 in cash so
 Cows 20,000+
Cash 20,000 -
 Double-entry system
o Accounting Period
 Refers to the span of time at the end of which the financial statements of
an enterprise are prepared to know whether it has earned profits or incurred
losses during that period and what exactly is the position of its assets and
liabilities, at the end of that period
 Accounting period: specified arbitrary interval of time
 Net income for life of company = money in-money out
 Accounting year = fiscal year or calendar year
o Conservatism
 Business transactions should be recorded in such a manner that profits are
not overstated (wag mag over-assume). All anticipated losses should be
accounted for but all unrealized gains should be ignored
 “…prudent reporting based on healthy skepticism…builds
confidence in the results…”
 Preference for understatement rather than overstatement of assets
and earnings (and owners’ equity)
o If two estimates are equally likely, use the one that results in
smaller assets and earnings
o Realization
 Revenue for a business transaction can only be recognized once the goods
or services associated with it have been delivered or rendered,
respectively.
 Indicates amount of revenue that should be recognized.
Conservatism concept indicates when revenue should be recognized
 Recognize as revenue: Amount that is reasonably certain to be
realized
 Realized = cash received
 *unearned revenues
o Matching
 Firms must recognize, in the income statement, their revenues and their
related expenses in the same accounting period
 When an event affects both revenues and expenses, the effect
should be recognized in the same accounting period
o First determine revenues for period
o Then expense matching items of cost
 Examples
o Commission
o Wages and bonuses
 *wages payable = may utang ka sa kanilang wage
o Consistency
 Accounting policies and practices should be uniform and consistent over
time so that results are comparable
 Once an accounting method is selected, use for all subsequent
events of same character
 Can change if there is sound reason to change
o Materiality

 Accounting should focus on material facts. An item is considered material if
the item is likely to influence the decision of a reasonably prudent investor or
creditor, and therefore should be shown in the financial statements
 Insignificant events/trivial matters may be regarded
 Full disclosure of all important info
 Overriding concern: would knowledge of event affect decisions of
users?
 Application of judgement and common sense
 Financial statements
o Used in making decisions
o Easily comprehensible
o Stock/resources and obligations at a point in time
 Balance sheet – “as of”
o Flow/activity over a period of time:
 Income statement – “for the year of”
 Statement of cash flows
 Balance Sheet
o Point in time or status report
o Contains (and shows equality of amounts of):
 Assets
 Economic resource (i.e. provide future benefits)
o Cash or convertible to cash
o Goods to be sold for cash
o Items to be used to generate cash
 Controlled by the entity
 Objectively measurable cost at time of acquisition
 We have:
o CURRENT ASSETS: Cash, Accounts Receivable, Inventory,
Prepaid Expenses
o FIXED ASSETS: Property, plant, equipment
o Intangible Assets
o Investments
 Liabilities
 Obligations to transfer assets or provide services to outside parties
(credits)
 Arising from past transactions or event
 Claims against entity’s assets
 Not against specific assets, unless indicated
 Current: expected to be satisfied or extinguished during the normal
operating cycle or within one year whichever is longer
 We have:
o Current Liabilities: Accounts payable, Bank loan payable,
Taxes payable, Accrued Expenses, Unearned Revenues,
Current portion of long-term debt
o Non-Current Liabilities: Long-term debt, *notes payable
(can be under current/non-current)
 Owners’ Equity
 Amount owners invested in entity
 Sources of OE
o Amounts provided directly by equity investors (Pain-in-
capital)

o Amounts retained from earnings, i.e. profits (Retained
Earnings)
 For a corporation: shareholders’ or stockholders’ equity
o Shares of stock evidence ownership interest
 Equivalently net assets (i.e. = A-L)
Company X
Balance Sheet
As of March 31, 2018
Assets Liabilities and OE
Current Assets (cash, accounts Current liabilities (Accounts
receivable, etc.) payable, bank loan payable)
Non-current assets/fixed assets Non-Current Liabilities (Notes
(Net Property, plant, equipment, payable)
investments)
Total Liabilities
Owners’ Equity (Paid-in-capital,
retained earnings)
Total Assets Total Liabilities and OE
 Income Statement
o Shows changes in OE or Retained Earnings from operations of business
o Amount added to RE is called income
o Revenues-Expensive = Net Income
 Sales Revenue = amount for product sold to customers during accounting
period
 Gross margin = Sales revenue-Cost of sales
o You have
 Sales Revenue
 Less: Cost of Sales
 Gross Margin
 Less: Operating Expenses (wages, rent, insurance, utilities)
 Income before Taxes
 Less: Provision for Taxes
 Net Income (or Loss)
Debit Credit
Assets Liabilities
Withdrawal Owners’ Equity
Expenses Revenue
AWLO – Balance Sheet WO  Paid-in Capital

ER – Income Statement ER  Net Income/Loss
Year 1 Year 2 Year 3 Year 4

Sales 12,011 ?=11,968 11,545 10,000
Cost of goods 3,011 2,992 ?=2,886 ?=2,500
sold
Gross margin ?=9,000 8,976 8,659 ?=7,500
Other expenses 6,201 5,152 ?=6,296 ?
Profit before 2,799 ?=3,824 2,363 ?
taxes

Tax expense ?=1,120 1,019 945 ?
Net Income 1,679 1,528 1,418 ?
 Current Ratio
o Current Assets/Current Liabilities = Current Ratio
 Tells you if you will be able to liquidate your money quickly enough to cover
our debt
 CA is cash, inventory, marketable securities, accounts receivable
(anything easily convertible to cash—not land)
 CL is liabilities claimable within the year
o Current portion of a long-term debt
 Ideal ratio is 2:1
 Contra-Asset Accounts: you subtract these accounts from your asset side
o Accumulated Depreciation
 In Balance Sheet
 Fixed asset (e.g. land)
 Less: Accumulated depreciation
 Net: Fixed Asset (e.g. Net land)  you add this to your total assets
 Record in journal as:
Depreciation Expense
Accumulated depreciation
 (Asset cost – Salvage value) / # of useful years = straight line depreciation

o Allowance for Bad Debts
 In Balance Sheet
 Accounts Receivable
 Less: Allowance for Bad Debts
 Net: Accounts Receivable  you add this to your asset
 Record in journal as:
Bad debts expense
Allowance for bad debts
*Accrued Expense  It’s like a payable. You have an expense but you haven’t paid for it yet
Bonds and notes payable are usually non-current
*Capital stock is paid-in-capital (OE)
*Investment is a non-current asset
*Marketable securities are current assets
Cash (A)
Unearned Revenue (L)
Adjust:
Unearned Revenue (L)
Revenue (OE)


Acc 111 Notes

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Acc 111 Notes

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Verfügbare Formate

ACC 111 NOTES

Introduction to Resource Management

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Managing Marketing Information to Gain Customer Insights

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Integrated Marketing Pro

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

AWLO – Balance Sheet WO  Paid-in Capital

Year 1 Year 2 Year 3 Year 4

Notes by Ma. Victoria Danicita A. Leyble

Notes by Ma. Victoria Danicita A. Leyble

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