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This book provides an introduction to the underlying mathematical concepts in marketing and management in terms accessible to students of all levels. Weiglin also explains the relevant non-mathematical issues, such as price sensitivity, product distribution, and sales estimates, and provides the tools necessary to fully understand the basics of each.
Presented in an irreverent, conversational style, this book includes numerous real-world examples and illustrations that gently introduce the reader to the important mathematical concepts behind marketing and management. Intended for students and professionals of all levels, Survival Math for Marketers is a fun, easy-to-read introduction to the world of business math.
Chapter 1. Your Credibility
It's Absolute and Definite (Maybe)
A Few Definitions
Why is This Important to Me?
A Short True-False Quiz
Reality and Perception
The Numbers Control Us
I Thought This Was a Math Book
Chapter 2. Figures Never Lie, but Liars Figure
It's Absolute and Definite (Maybe), Part II
Is "Actual" actually "Actual "?
Debits and Credits
The Chart of Accounts
Sales and Expenses
It's an Accrual, Accrual World
Chapter 3. Making a (Financial) Statement
How Are We Doing?
The Balance Sheet
The Income Statement
Chapter 4. Organizations, Measurements, and Standards
What Are We, Anyway?
Different Purposes, Different Rulers
Percentage of What?
The Pitfalls of Precision
Why Are We Looking Here?
The Unseen Costs of Saving Money
Too High? Too Low? What Standards?
Chapter 5. An Economics Excursion
Economics, Science, Markets, and Demand
Utility Is Not Just Gas
The Economists' Curve
Marketing and Elasticity
Chapter 6. Pricing and Profitability
Pricing: Theory and Practice
A True-False Quiz on Pricing
What a "Price" Really Is
There's More Than Price Involved in Price
A Small digression on Quality
Price vs. Cost
Markups and Break-even
Sensitive Pricing for Profit
What is the Company's Objective?
Pricing Policies You Should Have
Pricing for Services
Chapter 7. Costs and Profitability
Costs, Real and Imagined
Variable, Fixed, and Somewhere in Between
Why a Toilet Seat Costs $600
Over Whose Head?
Is Overhead a Burden?
Sunk and Avoidable Costs
Inventory and Stockturn
LIFO and FIFO
A Cost Control Fallacy
Fun with Depreciation and Amortization
Chapter 8. Strategy: Break-Even and Profitability
Profit is Why We're Here
Must Everything Break Even?
Chapter 9. Cash
Source and Use of Funds
Receivables and Payables: A/R and A/P
Cash Flows and Cash Gaps
Net Present Value
Chapter 10. Budgets
What is a Budget?
Basis for Budgets: Last Year, Percentage or Zero?
The Fantasy Factor
Cost Fudge and Revenue Cotton Candy
Don't Just Divide By 12
Revenues and Strategy
Chapter 11. Just Look at the Statistics
Mean Stuff and Deviations
That Average Just Moved!
Appendix A - A Summary of Non-Magic Formulae
Appendix B - Sample Chart of Accounts