Picture of MIT group presentation...
Photo of Entrepreneur
13 years ago
Thursday, 22 December 2011
BIC Presentation : Track Soft Tracking Device
BIC Presentation on 21 December 2011. Below are the slides of our group's presentation.
Wednesday, 7 December 2011
Entrepreneurial Marketing
In this chapter what has been covered during the lectured session are as below :
1.Explain the purpose of market segmentation.
2.Describe the importance of selecting a target market.
3.Describe the importance of the ability to position a company’s products on benefits rather than features.
4.Identify the four components of the marketing mix.
1.Explain the purpose of market segmentation.
2.Describe the importance of selecting a target market.
3.Describe the importance of the ability to position a company’s products on benefits rather than features.
4.Identify the four components of the marketing mix.
The Process of Selecting a Target Market and Positioning Strategy consist of three which are :
• Segmentating the market,
• Select a target market and
• crating a unique positioning strategy
The Four Ps of Marketing for New Ventures are :
• Price
• Place
• product
• Promotion
Direct selling
Industry and Competitor Analysis
What is Industry Analysis?
• Industry
o An industry is a group of firms producing a similar product or service, such as airlines, fitness drinks, furniture, or electronic games.
• Industry Analysis
o Is business research that focuses on the potential of an industry.
What is Industry Analysis Important?
• Once it is determined that a new venture is feasible in regard to the industry and market in which it will compete, a more in-depth analysis is needed to learn the ins and outs of the industry.
• The analysis helps a firm determine if the niche market it identified during feasibility analysis is favorable for a new firm.
How Industry and Firm-Level Factors Affect Performance
• Firm Level Factors
o Include a firm’s assets, products, culture, teamwork among its employees, reputation, and other resources.
• Industry Level Factors
o Include threat of new entrants, rivalry among existing firms, bargaining power of buyers, and related factors.
• Conclusion
o In various studies, researchers have found that from 8% to 30% of the variation in firm profitability is directly attributable to the industry in which a firm competes.
The Five Competitive Forces Model
Industry Types and the Opportunities They Offer
• Emerging Industries
o Industries in which standard operating procedures have yet to be developed.
§ Opportunity: First-mover advantage.
• Fragmented Industries
o Industries that are characterized by a large number of firms of approximately equal size.
§ Opportunity: Consolidation.
• Mature Industries
o Industries that are experiencing slow or no increase in demand.
§ Opportunities: Process innovation and after-sale service innovation.
• Declining Industries
o Industries that are experiencing a reduction in demand.
§ Opportunities: Leadership, establishing a niche market, and pursuing a cost reduction strategy.
• Global Industries
o Industries that are experiencing significant international sales.
§ Opportunities: Multidomestic and global strategies.
Competitor Analysis
• What is a Competitor Analysis?
o A competitor analysis is a detailed analysis of a firm’s competition.
o It helps a firm understand the positions of its major competitors and the opportunities that are available.
o A competitive analysis grid is a tool for organizing the information a firm collects about its competitors.
Types of Competitors New Ventures Face
