Entrep

Understanding customers' buying habits, income, and social status.

Analyze customers' profile

What are The Marketing Strategy process(Name 7)

Includes understanding customers' needs, analyzing customers' wants, analyzing competition, researching distribution, and defining the marketing mix.

Involves the accountant or the person responsible for managing the company's finances.

Financial Analysis

Evaluating the business periodically.

Review and Revise

offer the same products or operate within the same market, while indirect competitors have different offerings but solve the same consumer need. Phantom competitors and replacement competitors refer to potential alternatives that customers might choose instead of purchasing the offered product.

Direct competitors

Analyzing and preparing for expansion, growth, and potential competition.

Proactive analysis

Creating strategies to penetrate a wider market.

Develop advertising and promotion strategy

Taking control over one or more stages in the production or distribution of products.

Vertical expansion

Acquiring another company in the same business line.

Horizontal expansion

Analyzing the external factors that may impact the business.

Environmental Scanning

Ensuring a steady flow of materials for production.

Constant supply of raw materials

The backbone of the company's success. LIfeline of your company

Workers efficiency and productivity

Generating profitable operations with limited investment.

Small capital

The result of a well-conceived idea by the management team.

A good product

Designing products that meet customer demands and preferences.

Product design and appeal

Influenced by labor cost and the availability of affordable raw materials.

Production cost

Ensuring products are readily available to customers.

Supply chain management

Occurs when the top-level management fails to sustain expansion and growth efforts.

Weak management

Sustainable Product Opportunities

• Product Demand

• Presence of Poor Quality in the Market

• Government Policies and Support

• Liberal Credi⁠⁠t Terms and Interest Rates

Encouraging customers to support and buy locally produced products.

Patronize our own products

the process of gathering information about events and their relationships within an organization's internal and external environments.

Environmental Scanning

 is the greatest opportunity for the entrepreneur.  

Product demand

is an essence of profit)

Demand 

should appeal to customers demand. 

Product design 

Product appeal 

are important ingredients for customer patronage.