ENTREP 11 - Opportunity Seeking and Screening

2ND SEM FINAL TERM || From docs.google.com/presentation/d/1arO8w9OOG9qjLIDlgDbzjbwKEIAGRwJw/edit?usp=drive_web&ouid=101034789844053064872&dls=true and no terms missed

Industry

A group of organizations involved in producing or handling the same type of product or service

1. Rivals or competitors

2. Suppliers

3. Marketing channels

4. Consumer market segments

5. Substitute products or services

6. All other support and enabling industries

6 Participants in an Industry

Rivals or competitors

True ones are those competing for the same or similar markets

Suppliers

They are the ones that provide something that is needed or wanted

1. Suppliers of inputs

2. Suppliers of machinery and equipment

3. Suppliers of manpower and expertise

4. Suppliers of merchandise

4 Types of suppliers

Marketing channels

It is used by industry participants (enterprises) to reach end consumers. It is also a medium used to advertise your company

Consumer market segments

being served by all those competing in the industry

Market or customer segmentation

It is the process of dividing a consumer or business market into meaningful sub-groups of current or potential customers

Segments

It is the meaningful sub-groups that consumers or business markets are divided into

Substitute products or services

It is a product or service that can be used in place of another

1. Generic

2. Product

3. Brand

4. Geographic

4 Types of substitute goods

Market sources of opportunities

Refers to the actual and potential demand and supply of the industry that the enterprise belongs to. It can be discovered from increased to decreased demand as well as higher or lower supply

Micro market

Refers to the specific target market segment of a particular enterprise and are self-service stores selling a variety of items.

New entrants

the one who enters something

Buyers

They are the one that pays cash in exchange to your goods and services.

Rivalry

It is a state or situation in which people or groups are competing with each other.

Goods

Refer to tangible products that consumers can observe with their senses

Services

They are intangible and not manufactured, transported, or stacked. They are produced and consumed simultaneously

1. Relevance

2. Resonance

3. Reinforcement of Entrepreneurial Interest

4. Revenues

5. Responsiveness

6. Reach

7. Range

8. Revolutionary Impact

9. Returns

10. Relative Ease of Implementation

11. Resource Required

12. Risks

The 12 R’s of Opportunity Screening

Relevance

It is part of the 12 R’s that are about alignment of vision, mission and objectives

Resonance

It is part of the 12 R’s that are about matching with values and desired virtues

Reinforcement of Entrepreneurial Interest

It is part of the 12 R’s that are about personal interest, talents and skills

Revenues

It is part of the 12 R’s that are about sales potential of the products and services

Responsiveness

It is part of the 12 R’s that are about customer needs and wants

Reach

It is part of the 12 R’s that are about expanding through branches, distributorships, dealerships or franchise outlets

Range

It is part of the 12 R’s that are about wide range of possible product or service offerings

Revolutionary Impact

It is part of the 12 R’s that are about the next big thing or game-changer

Returns

It is part of the 12 R’s that are about returns of investment

Relative Ease of Implementation

It is part of the 12 R’s that are about how it is easy to implement

Resources Required

It is part of the 12 R’s that are about fewer or more resources in need

Risks

It is part of the 12 R’s that are about technological, market, financial and people risks