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entrepreneurship
Entrepreneurship Theory Process And Practice 10th Edition Donald F. Kuratko - Solutions
=+2 Estimate the same percentage for your own country or community.
=+17 Name two forms of customisation and explain how customisation influences a pricing strategy
=+psychological factors that affect pricing? Identify and discuss three of each.
=+16 What are some of the major environmental factors that affect pricing strategies? What are some of the major
=+15 There are three important distinctions to be drawn between social media marketing and traditional marketing. What are they and how do they differ?
=+14 Describe six segments of online shoppers by their online behavioural characteristics.
=+13 Describe several different methods of Internet marketing. Give examples.
=+12 When developing a marketing plan, what are the five steps that are particularly helpful? Identify and describe each.
=+11 Provide a set of 10 market related questions that are typical to ask an entrepreneur that direct attention to gaps in market intelligence. Consider the areas of sales, distribution, markets, advertising and product.
=+difference to the entrepreneur’s strategy if the consumers viewed the company as selling a convenience good as opposed to a luxury good?
=+10 How does the way that consumers view a venture’s product or service affect strategy? For example, why would it make a
=+9 Identify and discuss three of the most important personal characteristics that help the entrepreneur identify and describe customers. Also, explain how the product life cycle will affect the purchasing behaviour of these consumers.
=+8 What role do demographic and benefit variables play in the segmentation process?
=+7 In your own words, what is market segmentation? Give examples.
=+production-driven, sales-driven and consumer-driven? Be complete in your answer.
=+6 How would an entrepreneur’s new-venture strategy differ under each of the following marketing philosophies:
=+2 What are the key constraints experienced by new and small businesses in marketing their products and services?
=+1 What are the differences between entrepreneurial marketing and ‘traditional’ marketing?
=+• What time of day is best for reaching them?
=+• How is it best to target them through apps and mobile web?
=+• Why does each segment use their smartphone?
=+• What behaviours make each mobile segment unique?
=+3 Do you know whether adding higher or lower quality levels would make new profitable markets for your products?
=+2 Do you have a reliable method for testing the effect on sales of new or changed packaging?
=+1 Do you have a reliable quantitative method for testing the market acceptability of new products and product changes?
=+3 Is your budget allocated appropriately for greater profit – according to products, territories and market potentials?
=+2 Do you know how effective your advertising is in comparison to that of your competitors?
=+1 Is your advertising reaching the right people?
=+3 Can you now plot, from period to period, your market share of sales by products?Advertising
=+2 Do you have as much information as you need on brand or manufacturer loyalty and repeat purchasing in your product category?
=+1 Do you know all that would be useful about the differences in buying habits and tastes by territory and kind of product?
=+3 Has your distribution pattern changed along with the geographic shifts of your markets?Markets
=+2 Are your distributors’ and dealers’ salespeople saying the right things about your products or services?
=+should about distributors’ and dealers’ attitudes towards it?
=+1 If you are considering introducing a new product or line of products, do you know all you
=+3 Is your sales power deployed where it can do the most good, maximising your investment in selling costs?Distribution
=+2 Do you know which accounts are profitable and how to recognise a potentially profitable one?
=+1 Do you know all you need to know about your competitors’ sales performance by type of product and territory?
=+• What types of products or services are desired by potential customers?29
=+• What impact does the business’s promotion have on customers?
=+• How does the business compare with competitors?
=+• What is the size of the market? How much of it can the business capture?
=+• Why do they choose to go there?
=+• Where can potential customers go to purchase the good or service in question?
=+• How does the growth or decline of a customer’s or a prospect’s business affect the company’s own sales?
=+Does the sales force understand potential customers’ needs?
=+• Do salespeople ask the right questions on sales calls? Do sales reports contain appropriate information?
=+• Are sales calls coordinated with other selling efforts, such as trade publication advertising, trade shows and direct mail?
=+• Are territories aligned according to sales potential and salespeople’s abilities?
=+• Does the sales force contact decision makers?
=+• Do salespeople call on their most qualified prospects on a proper priority and time-allocation basis?
=+customisation influences the perception of price by the customer
=+9 To discuss the key features of a pricing strategy and how
=+8 To differentiate green marketing from traditional marketing practice
=+7 To examine marketing on the Internet and the emerging use of social media and mobile marketing for entrepreneurial firms
=+6 To outline the processes and entrepreneurial tactics in marketing research
=+5 To identify the key elements of an effective market survey
=+4 To establish the concept and need for customer segmentation
=+3 To establish the areas vital to a marketing plan
=+2 To examine the entrepreneurial marketing concept – philosophy and consumer orientation
=+1 To appreciate the context of entrepreneurial marketing as distinct from traditional marketing
=+raw material issues that may hinder this project at any stage.
=+Finally, identify any anticipated critical risks in terms of potential product liability, governmental regulations or
=+that exists. Any proposed or completed prototype testing should be described here as well.
=+Identify any intellectual property involved with this potential venture, and discuss the proprietary protection
=+Explain the current status of the project and include a clear timeline of the key tasks to complete.
=+Provide a detailed description of the proposed concept, including any unique features that make it distinctive.
=+how specifically your concept will match up or exceed the competition and why.
=+Finally, be sure to include a competitor analysis that describes thoroughly the competition existing today and
=+Explain the customer profile in terms of who the specific customer is and – again – what value proposition (in terms of benefits) is being offered to the customer.
=+addition, identify the market size, its growth potential and your plan for market penetration based on research.
=+Discuss the target market analysis that has been used and what specific market niche that has produced. In
=+Explain the industry that this concept focuses on, as well as whatever trends may exist in that particular industry today.
=+royalties, distribution rights or franchise agreements.
=+Summarise any proprietary rights associated with this concept, whether that be patents, copyrights, licences,
=+customer and the potential growth opportunities.
=+Include a clear description of the targeted customer, the value proposition (in terms of benefits gained) for that
=+stage, start-up, initial operations or expansion).
=+service business. Identify the current stage of development for the venture (concept
=+Describe whether the proposed concept is a retail, wholesale, manufacturing or
=+give your recommendations for what to do about them.
=+3 In addition to the uniqueness feature, what other critical factors is George overlooking? Identify and describe three, and
=+2 If George were going to make his business venture unique, what steps might he take? Be complete in your answer.
=+1 Is there any truth to the potential investor’s comment? Is the lack of uniqueness going to hurt George’s chances of success? Explain.
=+3 Describe what potential barriers to entry they might encounter.
=+2 How would the five forces model help them?
=+1 What elements of the industry should Jing and Yuan examine?
=+16 What are the influencing elements in an entrepreneurial ecosystem on the entrepreneurial process?
=+15 Identify and describe four of the steps to take when making an industry assessment.
=+14 What are the key elements identified in Hindle’s scorecard that are critical to assessing a venture opportunity?
=+What types of decisions could the individual make from the analysis?
=+13 How could an entrepreneur use Figure 9.5 to conduct a competitive profile analysis? What would the results provide?
=+12 Explain how a comprehensive feasibility analysis works.
=+11 Explain how a feasibility criteria analysis works.
=+10 What are barriers to entry? How do they affect new-venture assessment?
=+9 Explain why Porter’s ‘five forces analysis’ is useful in assessing whether an idea is an opportunity.
=+8 How do you carry out an industry value chain analysis?
=+7 What are ways to evaluate new-venture opportunities?
=+6 How do you carry out an opportunity landscape analysis?
=+5 Many entrepreneurs lack objectivity and have no real insight into the market. Why are these characteristics considered pitfalls when selecting new ventures?
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