Interview
Entrepreneurship course notes
- Course
- Entrepeneurship
- Institution
- 11th Grade
A brief summary of all things to do with entrepeneurship including a busssiness plan and venture plan
[Show more]
Seller
Follow
Content preview
UNIT THREEMarketing is the study and management of exchange relationships. It is the business process of
identifying, anticipating and satisfying customers needs and wants. Because marketing is used
to attract customers, it is one of the primary components of business management and
commerce.
Main difference between sales and marketing:
- Marketing informs and attracts leads and prospects to your company and other products
or services.
- Sales, on the other hand, works directly with prospects to reinforce the value of the
company’s solution to convert prospects into customers.
Example of the difference between automobile sales and marketing:
Automobile sales:
Research features wanted,Research colours to offer, Advertise to target market, Get people most likely
to buy products in the dealership, Figure out what price they will pay, Deliver the best selling cars to
dealerships.
Automobile marketing:
Relationship with customers,Communicate features, Develop trust, Product knowledge, Close the deal.
The business plan is basically the venture plan.
The venture plan is basically a plan that is given to investors to make them interested in your company.
You are trying to convince someone that your business plan will work.
The typical venture plan consists of:
- Executive summary
- Marketing plan
- Resource Analysis
- Operating Strategy
- Financial strategy
, The marketing plan consists of:
- Title and page chart
- Identify target market
- Survey design
- Competitor analysis
- Advertisement
- Marketing Mix report
How to calculate profit margin:
- Cost of product - selling price = (answer)(100%) = answer in percentage
A target market includes;
- Demographic: who, age, race, gender
- Geographic: area (rural or urban)
- Psychographic: lifestyle, personality
Primary data: Primary research usually costs more and often takes longer to conduct
than secondary research, but it gives conclusive results.
Secondary data: Secondary research is a type of research that has already been
compiled, gathered, organized and published by others.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller zahra8. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$12.24. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76669 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now