Entr Class 10 Flashcards
The foundation of every business?
Is satisfying the customer through a customer driven market strategy.
Marketing?
the process of creating and delivering goods & services to customers and involves all the activities associated with winning and retaining loyal customers.
Target Market
is a group of customers at whom a company aims its goods & services
Integrated marketing?
Unifying traditional and untraditional marketing channels and applying consistent branding, messaging and strategies and using cross channels reinforce and strengthen each other.
Objective of research
New business = Test assumptions
Existing business = better understand changes
Data mining
computer software uses statical analysis, data base tech, and AI to find patterns, trends, connections to better understand customer behavior
Primary research
company data and customers
secondary research
external data compiles for free or money
Go to Market
The plan to deliverer your unique value proposition to customers and achieve competitive advantage.
routes to market
a route between you and your target demographic.
marketing channels
are sets of independent organizations participating in the process of making a product or service available for consumption.
Unique selling proposition (USP)
The one thing that makes business better than others, standout from competition.
Bootstrap marketing
“do it yourself” “inside the box” simple, cheap. email, website testimonials, satisfaction surveys, social media, give away. allows smaller companies to have an edge over larger companies
Guerilla Marketing
Novel, “outside the box” viral, edgy.
what % of entrepreneurs use social media?
96% use it to connect with customers
