2do Parcial

Question 1

What is a business proposal ?

Answer 1

A document outlining essentiel information about a spécificité product to convince a customer

Question 2

What is a digital product?

Answer 2

Not physical
Needs to be accesed through another device

Question 3

Competitive advantage

Answer 3

-something that differentiates you, provides more value to your product
-Find a way to make it different

Question 4

Competitive advantages (internal external)

Answer 4

Internal: based on production; prices and optimal product management, offering lower prices
(Not obvious for customer)

External: The ones you announce

Question 5

Why competitive advantage is useful?

Answer 5

-basis for building the value proposition

Question 6

Elements of the competitive advantages

Answer 6

-price
-quality
-experience !
-customization! (Customers make decision in their own product)

Question 7

Types of competitive advantages

Answer 7

-comparative advantage
If it’s a product that can be the same as others, what makes you stand out (water)

-differential advantage
Product fulfill the same needs but can’t compare (apple and Samsung)

-sustainable competitive advantage
Completely new, don’t have competition (google)

Question 8

Adaptation or tropicalization

Answer 8

Adapt your product depending on the market

Question 9

What is a distribution channel ?

Answer 9

Routes that products and services take on their journey
DIRECT
Product-consumer
INDIRECT
-short
Product-minorista-consumidor
-long
Product-mayorista-minorista-consumidor

Question 10

Channels in the digital age

Answer 10

Blog Pages
App stores

Question 11

How to choose the right channel?

Answer 11

Look at the product itself
-do you need to reach the customer quickly?
-does it need to integrate with other to be useful?

Looking at the ideal customer
-do you intend to target a very specific population?

Question 12

Monetization schemes

Answer 12

Schemes
-subscription
-dynamic prices
-bids

Question 13

Subscription

Answer 13

Most popular
-physical
-digital
-content

ADVANTAGES

-Business
Recurring revenues
Increase (Customer Lifetime Value)
Inventory forecasting

-Client
Novelty
Access
No commitment

Question 14

Value proposition

Answer 14

-core of competitive advantage
-why someone would want to buy or deal with a company
-promise I’d value that’s a customer expects to receive from a company
*unique identifier
*without it buyers will have no reason to buy
*Interact with a competitor simply for the value proposition.

Question 15

Elements of the value proposition

Answer 15

-Title: describing the benefit to the customer
-Subtitle: explaining the company’s offering
-Visual element the conveys the value

Question 16

Customer profile

Answer 16

-First half of the value proposition
-Best to start with this section si that’s the wants and needs influence overall
-3 parts:
•Customer jobs
•Gains
•Pains

Question 17

Customer jobs

Answer 17

-task that your customer needs to complete or the problem they are trying to solve with your product
-sums the customers job or the purpose of your product

Question 18

Gains

Answer 18

-Customer product expectation
-Research to explain what customers expect from you

Question 19

Pains

Answer 19

-What pains do customers experience?
-Are they taking any risks?

Question 20

Value proposition

Answer 20

-Gain creators
-Pain relievers
-Products and services

Question 21

Gain creators

Answer 21

-characteristics of products or services that make the customer happy
-financial, social goals psychographics

Question 22

Pain relievers

Answer 22

-Defines hoy the business will help them overcome pain points

Question 23

Products and services

Answer 23

-mention the products or service that generate the most profit

Question 24

Value proposition canvas

Answer 24

-visual tool that helps position the company’s product or service around customer needs
-onbjective: identify how your business provides benefit
-made up two main components: customer profile and the value map

Question 25

Types of financing

Answer 25

CRÉDITO BANCARIO -bancos Crasas de interés FINANCIAMIENTOS GUBERNAMENTALES - Nacional Financiera (NAFIN) y Banca Comercial -Ofrecer financiamiento a micro empresas -Plazos y condiciones favorables BUSINESS ANGELS -Inversionistas privados -aportan capital -agregan valor a la gestión de las primeras etapas del negocio -ayudan a emprendedores a liderar con factores de riesgo -contribuyen a solucionar problemas de liquidez SOCIOS CON CAPITAL -participan en las pérdidas, triunfos y fracasos -Sociedad Anónima de Capital Variable FONDOS DE CAPITAL DE RIESGO -invertir en un proyecto -proyectos innovadores que garanticen un tasa interna de retorno

Question 26

Key resources

Answer 26

-identify resources -make your business plan -cost, infrastructure (business model)

Question 27

Quotes

Answer 27

Quotation -letter of introduction of any professional -first contact with a client -try to balance the total expenses, the hours of work and resources consumed

Question 28

Variables to set prices in your quotation

Answer 28

-covering costs -profitability margin -market price -promotions

Question 29

Mistakes (quotation)

Answer 29

-a price that is too low devalues the value of your work, product or young service -a price that is too high or too much above the average may loose you a customer before negotiating (in case of moving into a high price be sure to justify it)

Question 30

What should a quotation include

Answer 30

1. Company’s information 2. Customers information 3. Concept 4. Amount 5. Payment method Other elements 6. Delivery time 7.Warranties and technical support 8. Legal conditions 9. Format

Question 31

Recommendations for a good quotation

Answer 31

1. Present the clients problem for a professional point of view 2. Making proposal: how we can help the customer 3.Include a possible work plan or timeline 4. Scope of work: both of what’s included and what is not

Question 32

Financial considerations

Answer 32

1. Formality 2. Taxes 3. Tax receipts 4. Sanctions 5. Benefit of having everything in order

Question 33

Financial considerations (Formality)

Answer 33

-Register the company with the Government (SCHCP and SAT) -Be clear about the type of tax regime that will define the company’s activities *SCHP= Secretaria de hacienda y crédito público *SAT= Sistema de Administración Tributaria

Question 34

Financial considerations (taxes)

Answer 34

-IVA: tax to be paid for the acquisition of goods and services to carry out the activity (16%) -ISR: tax corresponding to the income generated by the activity you carry out (percentage according to the total profits obtained by your business) -IEPS: applies to business that produce or sell certain foods, beverages, gasolines or tobacco cigarettes

Question 35

Financial considerations (tax receipts)

Answer 35

-The SAT requires issuing and requesting invoices for all cash inflows and outflows -Some purchases or expenses may be the tax deductible if they are necessary to carry out the activity -If you have workers you must give them a receipt of the payroll payment for their services and the withholdings you make.

Question 36

Financial considerations (sanctions)

Answer 36

-fined for non compliance with various actions, such as *not providing receipts for transactions, *failing to file your annual tax return, *providing false information or even failing to keep your RFC (Registro Federal de Contribuyentes) yo to date

Question 37

Financial considerations (benefits of having everything in order )

Answer 37

-obtaining financing or credits from governmental or private institutions -create alliances with larger companies -participate in bids for government services -having the security of being able to request intervention of the authorities if necessary