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Frederick E. Berry Library and Learning Commons

ACC 202: Managerial Accounting


When you are planning a new product or innovative business, brainstorm product ideas and understand basic concepts and product information.  Research companies and industries that relate to what you hope to do.  Understand the market for your product by finding demographic and consumer information.  Know how your product competes against your competitors, adjusting your business's culture around a brand, and allocating funds should all be part of your marketing strategy.  Know the field. What are the goals for the company, for the product.  What are the short/long term effects for the company/idea.  Are there companies doing the same thing?  What's been in the news about this new innovative business?