Week 8 and 9 Int Business

(Ch.8) Opportunity Assessment Plan’s 4 sections include:

1. A description of the idea and its competition
2. An assessment of the domestic and international market for the idea
3. An assessment of the entrepreneur and the team
4. A determination of the steps needed to make the idea the basis for a viable business venture

(Ch.8) The Idea and Its Competition

1. Product needs to be described in as much detail as possible
2. A prototype is helpful
3. All competitive products and companies need to be identified and listed
4. Product should be compared with at least 3 of the most competitive products in the same market

(Ch.8) What is Value Proposition?

A promise made by a brand to the audiences with whom it wants to build relationships.

(what makes the brand stand out)

(Ch.8) 4 P’s of Marketing Mix

1. Promotion
2. Product
3. Place
4. Price

(Ch.8) The Market and the Opportunity

This section addresses the size and characteristics of the market.

Market data should be collected for at least the past 3 years.

(Ch.8) Entrepreneur and Team Assessment

At least one person on the team needs to have experience in the industry area of the new idea.

(Ch.8) Experience alone is not enough to make a team thrive, a team also needs…

shared entrepreneurial passion and shared strategic vision.

(Ch.8) Global Business Plan Areas:

1. Executive Summary
2. Introduction
3. Analysis of the International Business Opportunity
4. Operation of the Proposed Business
5. Financials
6. Appendix (Exhibits)

(Ch.8) Title Page/ Executive Summary includes:

1. The name, address, telephone #, etc
2. The name and position of the principal individuals in the organization
3. 3-4 sentences briefly describing the nature of the organization and the purpose.
4. A statement of confidentiality

(Ch.8) The executive summary:

is the most important when the purpose is to obtain financing. (Should be no more than 3 pages)

(Ch.8) The executive summary emphasizes the 3 most critical areas for the success of the organization

1. characteristics
2. capabilities
3. experiences of the entrepreneur and management team

(Ch.8) The second section of the global business plan is the…

Introduction

(Ch.8) The introduction describes:

1. The major product/service involved
2. A description of the country proposed for market entry

(Ch.8) Home Market Production Includes:

1. Direct Export
2. Indirect Export

(Ch.8) Direct Exporting is:

When the export activity is directly carried out by the manufacturer of the goods.

(Ch.8) Indirect Exporting is:

When the the manufacturer hires the services of an export intermediary agency to export his goods through the intermediaries.

(Ch.8) What is a balance sheet?

A financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders.

(Ch.9) How to start Amazon Advertising:

1. Sign up for Amazon Advertising account
2. Choose your advertising campaign type
3. Create your campaign
4. Launch your campaign
5. Monitor and optimize your campaign

(Ch.9) Amazon Advertising

1. Amazon PPC
2. Amazon DSP

(Ch.9) In Amazon PPC (Pay per Click)…

advertisers pay only when a user clicks on their ad, and the cost per click (CPC) is determined by a real-time auction process.

(Ch.9) Types of Amazon PPC:

1. Sponsored Products
2. Sponsored Brands
3. Sponsored Display
4. Sponsored Video

(Ch.9) Criteria for PPC:

1. Keywords
2. Product Categories
3. Customer interests
4. Demographics
5. Geographic Location
6. Devices (such as desktop or mobile)

(Ch.9) What is Amazon DSP (Demand Side Platform?

A programmatic advertising platform offered by Amazon advertising that allows advertisers to reach audiences across the web, mobile devices, and connected TV devices.

(Ch.9) PPC advertising uses the CPC pricing model, while DSP uses…

CPM (Cost per thousand impressions) pricing model

(Ch.9) When you want to drive more sales and increase visibility of your products on Amazon it is recommended you use…

Amazon PPC

(Ch.9) When you want to reach a broader audience outside of the Amazon marketplace it is recommended you use…

Amazon DSP

(Ch.9) CPC tends to be more expensive option compared to CPM especially when…

the product has highly competitive keywords or product categories.

(Ch.9) Amazon Attribution is a reporting and measurement tool that allows advertisers to track the performance of \\n their…

off-Amazon marketing campaigns and measure their impact on Amazon sales.

(Ch.9) To add Amazon Attribution code to your LinkedIn campaign, you will need to create a tracking URL by:

1. Log in to your Amazon Attribution account
2. Select URL builder
3. Click Generate Tag
4. Copy and Paste Tracking URL to LinkedIn campaign in destination URL field

(Ch.9) A common benchmark for Amazon ad spending is between…

5% and 15% of total sales

(Ch.9) In general, the average conversion rate for PPC ads across industries is

around 2-3%