ENTREP
ENTREPRENEURSHIP - The capacity for innovation, investment and expansion in new markets, products and techniques, The creation of something new and something different
\ Importance of Entrepreneurship:
- Entrepreneurship creates employment.
- Entrepreneurship improves the quality of life.
- Entrepreneurship contributes to a more equitable distribution of income and therefore eases social unrest.
- Entrepreneurship utilizes resources for national productivity.
- Entrepreneurship brings social benefits through government.
- Entrepreneurship introduces new technologies, new industries, and new products.
\ Environmental Scanning - The critical evaluation and thorough study of the environment where the business operates.
\ The Physical Environment - It composed of the natural elements that are inherent in the Earth.
\ The Societal Environment - Social forces Political forces Cultural forces Economic forces Legal forces Technological forces
\ The Industry Environment - Is the external environmental layer where the trends and changes are easily and immediately felt by the business.
\ SWOT ANALYSIS - It is a popular tool to evaluate the internal environment.
\ STRENGTHS - Refer to the strong attributes or capabilities of the business that provide great advantage in exploiting the business opportunity.
\ WEAKNESSES - are poor attributes or deficiencies that give disadvantages to the business.
\ OPPORTUNITIES - are business situations in the form of products or services that must be exploited because of their potential in terms of profit and growth.
\ THREATS - are possible external events in the environment that may provide harm to business.
\ logo - can take form of almost infinite variety of shapes and personalities from literal through symbolism and from word-driven to image-driven.
\ wordmark - is a freestanding word or words set in a stylized typeface.
\ Logotypes - are just uniquely styled text logos that spell out the company or brand name in a characteristic typeface.
\ Lettermark - is a symbol representing the company through the use of its initials or the brand's first letter, these marks are exclusively typographic.
\ Letterform - is a single letter used as a mnemonic device for the company name.
\ Emblem - is a mark in which the company name is inextricably connected to a pictorial element, and what differentiates them from other types of brandmarks is that the elements are never isolated. \n
Pictorial mark - is an image that is immediately recognizable and that has been simplified and stylized in order in a unique way, use literal and recognizable images.
\ Abstract mark - is a symbol that conveys a big idea in an interesting shape, are highly conceptual, \n They might represent an idea or value rather than provide a direct message.
\ combination mark - involves a combination of wordmark and brandmark.
\ Logo design - is not about what one likes or dislikes, it's about what works.
\ color - is even more important than the content when it comes to your logo design.
\ shapes - brain acknowledges and remembers _______ first, color is second and content comes last as it takes more time to process language.
\ Personal competencies – These are your abilities to ground yourself so that you are secure and self-assured in whatever situation you may find yourself
\ Interpersonal competencies – These are your ability to lead, influence, communicate, supervise, negotiate, and control people at all levels. It is the ability to get along with people and motivate people to perform jobs.
\ Business competencies – These are set of particular abilities and knowledge that sets a company apart from its competitors. It also refers to the key characteristics that successful entrepreneurs should have in order to be successful.
\ Competence - is an underlying personal characteristic which leads to superior performance, It is a combination of knowledge, skills, attitudes, and motives.
\ Core competence - is the foundation for sharpening a company's competitive edge and it guides brand reputation, business growth, and marketing strategy.
\ Common competence - is one that describes the knowledge, skills and abilities found in most or all position.
\ Entrepreneurial competencies - refers to the sum total of the personality, skills and knowledge that the entrepreneur possesses, which are necessary to effectively perform their functions and responsibilities.
\ Potential market - is the part of the total population that has shown some level of interest in buying a particular product or service.
\ Total addressable market - another name for Potential market.
\ potential market - is the part of the market you can capture in the future, it includes the demographic groups that are not currently your customers but could become customers in the future.
\ Market potential - is the total demand for a product in a given business environment
\ Available market - prospects who are willing and capable (have sufficient resources) buyers and have access to a particular market or service.
\ Target market - refers to a group of potential customers to whom a company wants to sell its products and services. Target markets are generally categorized by age, location, income and lifestyle.
\ Penetrated market - a set of customers and clients who are already using a particular product or service.
\ Potential Market - part of the total population that has shown some level of interest in buying a particular product or service.
\ Market Need - motivating force that compels action for its satisfaction.
\ Market - is a place where two parties can gather to facilitate the exchange of goods and services.
\ market - does not refer to a particular place but it refers to a market for a commodity or commodities.
\ market - is any place where sellers of particular goods or services can meet with buyers of those goods and services, It creates the potential for a transaction to take place.
\ MARKETING MIX - set op controllable and connected variables that a company gather to satisfy a customer better than its competitor, also known as "PC" in marketing.
\ 4P's - product, place, price and promotion.
\ 7P's product, place, price and promotion, people, packaging and positioning.
\ PRODUCT - any goods or services that are produced to meet the consumer wants, tastes and preferences. >
\ BUSINESS GOODS - not for final consumption but for producing other goods of providing services. >
\ CONSUMER GOODS - may not have thorough knowledge of the goods he buys and uses, for final consumption.
\ POSITIONING - a process used by marketers to create. an image in the minds of a target market, solid ___________ will allow a single product to attract different customers for not the same reasons.
\ PEOPLE - involved in the product or service whether directly or indirectly, also referred as ultimate marketing strategy, they sell and push the product, one of the most important elements of the marketing mix.
\ PROMOTION - Complete set of activities, which communicate the product, brand or service to the user, idea to attract people buy your product.
\ PRICE - value of money in exchange for a product or service, amount or value that a customer gives up enjoying the benefits of having or using a product or service."
\ \ PENETRATION PRICING - when the price charged for products and services is set artificially "low in order to gain market share."
\ PACKAGING - silent hero in the marketing world, outside appearance of a product and how it is presented to the customers.
\ PLACE - location where the buyer and seller exchange goods or services, also called as "distribution channel."
\ BRAND NAME - name, symbol or other features that distinguishes a seller's goods or services in the marketplace.
\ BRAND - One of your greatest assets cause your brand is your customer's overall experience of your business.
\ BRANDING -powerful and sustainable high level marketing strategy used to create or influence a brand, to distinguish products and companies, to build economic value to both customers and brand owners.
\ BRAND STRATEGY - long term design for the development of a popular brand in order to achieve the goals and objectives.
\ PURPOSE - every brand makes a promise" -not just promise that separates one brand from another but having a significant _______.
\ FUNCTIONAL - focuses on the assessments of success in terms of fast and profitable reasons
\ INTENTIONAL - focuses on fulfillment as it relates to the capability to generate money and do well in the world.
\ SESSION GROCERIES - owned by "Iloisa Romaraog" -to help farmers make a better living Commonly Used brand strategy
\ CONSNTENCY - to avoid things that don't relate to or improve your brand, aids to brand recognition, which fuels customer loyalty.
\ EMOTION - allows the customers have chance to pel that they are part of your brand, make them feel part of the family and use emotion to build relationships and promote brand loyalty.
\ FLEXIBILITY - allows you to adjust and differentiate your approach from your competition.
\ EMPLOYEE ENVOLVEMENT - equally important for your employees to be well versed in how they communicate with customers and represents the brand of your product.
\ LOYALTY - emphasis on a positive relationship between you and your existing customers sets the tone for what potential customers can expect from doing business with you.
\ COMPETITIVE AWARENESS - do not be frightened of competition Take it as a challenge to improve your branding strategy and cart a better valve in your brand.
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