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Technopreneurship Midterms > Enumeration two > Flashcards

Enumeration two Flashcards

(54 cards)

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1
Q

Common Mistakes Designing Value Proposition (Jeffries 2017)

A

Solving low value problems
Appealing to charity, not self-interest
Confusing supporters with customers
Assuming customers are sophisticated buyers
Inventing customers to suit products
Clogging the canvas with “nice to haves”
Designing something “as good” as the competition
Solving problems for beneficiaries, not customers
Locking in your customer profile too early

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2
Q

Types of Value

A

Intrinsic value
Exchange
Use
Utilitarian

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3
Q

Elements of Value Proposition

A

Target Market
Specific value
Customer connection

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4
Q

Characteristics of Value Proposition

A

Focus
Embedded in business model
Targeting
Alignment
Prioritizing
Uniqueness
Convergence
Performance
Distinctiveness
Applicability

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5
Q

Customer Profile

A

Customer Jobs
Pains
Gains

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6
Q

Types of customer jobs

A

Functional
Social
Personal/emotional

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7
Q

Another types of customer job in context of puchasing

A

Buyer of value
Cocreator of value
Transferrer of value

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8
Q

Four main types of customer gains

A

Required
Expected
Desired
Unexpected

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9
Q

Mapping Customer Profile

A
  1. Select customer segment
  2. Identify cusotmer jobs
  3. Identify customer pains
  4. Identify customer gains
  5. Prioritize jobs, pains, and gains.
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10
Q

Value Proposition Map

A

Products and Services
Pain relievers
Gain creators

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11
Q

Types of products and services

A

Physical/tangible
Intangible
Digital
Financial

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12
Q

Fit happens in three stages

A

Problem-Solution Fit
Product-Market Fit
Business Model Fit

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13
Q

Types of market

A

Physical markets
Virtual/Non physical
Auction
Black
Financial
Market for intermediate goods

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14
Q

Importance of target market

A
  1. More Effective Marketing Mix
  2. Helps you choose the right Marketing Channels
  3. Uses limited time, money, and resources more efficiently
  4. Maximizes Sales and Profits
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15
Q

Medium of Mass Marketing

A
  • Social Media
  • Television / Radio
  • Newspapers
  • Magazines & Email Marketing
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16
Q

Types of Market Segmentation

A

Demographic
Behavioral
Geographic
Psychographic

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17
Q

Psychographic characteristics

A

Attitude
Beliefs
Interest
Lifestyle
Personality traits
Values

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18
Q

Behaviors to consider

A

Online shopping habits
Website actions
Benefits sought
Usage rate
Loyalty

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19
Q

Other Methods of Market Segmentation

A

Value
Firmographic
Generational
Lifestage
Seasonal

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20
Q

Advantages of Market Segmentation

A

Create stronger marketing messages
Find the ideal marketing strategies
Design targeted advertising
Attract potential customers
Differentiate your brand from the competition
Identify your niche market
Focus your efforts
Create a customer connection

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21
Q

Disadvantages of Market Segmentation

A

Increase a Company’s Rising Cost
Production Problems
Unprofitable Goal

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22
Q

Goals of Market Analysis

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A
  • Attractiveness of the market
  • New business opportunities
  • Under the mind of a customer
  • Understanding dynamics of the market
23
Q

Dimensions of Market Analysis

Study These Flashcards
A

Market size
Market growth rate
Market profitability
Industry cost structure
Distribution Channel
Market Trends
Key success factors

24
Q

Elements on how to analyze market profitability

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A

Gross profit
Net profit
Operation profit
EBITDA

25
Elements in Porter's value chain
Primary activities Support activities
26
Primary activities
Inbound logistics Operations
27
Types of operations
Outbound Logistics Marketing and sales Service
28
Support activities
Procurement Human resource management Technological development Infrastructure
29
Types of channels of distribution
Direct Indirect
30
Three categories of indirect channels
One-level Two-level Three-level
31
Distribution systems consider
Understanding of the Existing Distribution Channels Trends and Emerging Channels Power Structure of Channels
32
Key success factors
* Accessibility to essential and unique resources * Competence to reach economies of scale * Accessibility to channels of distribution * Accessibility to the state-of-the-art technology
33
Competitor Analysis
Your business’s strengths and weaknesses Market understanding Specific industry trends Required benchmarks for future growth
34
STEPS IN CONDUCTING COMPETITOR ANALYSI
Identifying Competitors Assessing Competitors (Competitor Matrix)
35
Types of competitors
Direct Potential Indirect Future Replacement
36
STEPS IN ASSESSING COMPETITORS
Determining Competitors’ Objectives Identifying Competitors’ Strategies' Assessing Competitors’ Strengths and Weaknesses Estimating Competitors’ Reactions
37
Three levels at which strategies are used
Corporate Business Functional
38
5PS
Product Price Place Promotion
39
Specific moves and strength
Competitor’s objectives Competitor’s strategy Competitor’s assumptions Competitor’s resources and capabilities Customer response profile
40
Offensive
Direct Attack End-run Pre-emption Acquisition
41
Defensive
Advertising Highlighting Exclusion
42
Types of competitors to attack and avoid
Strong or Weak Competitors Close or Distant Competitors Finding Uncontested Market Spaces
43
Types of Marketing Strategies
Cause Relationship Word of mouth Paid Diversity Transactional E-marketing Undercover Offline
44
Approaches in Marketing Strategy
Entrepreneurial Formulated Intrapreneurial
45
Competitive Strategies
Cost leadership Cost focus Differentiation Differentiation focus
46
Competitive Positioning
Market Leaders Market challengers Market followers Market nichers
47
Market Challengers types
Frontal attack Flanking attack Encirclement Bypass attack
48
Types of market followers
Counterfeiter Cloner Imitator Adaptor
49
Balancing Customer and Competitor Orientations
Market Orientation Product orientation Customer orientation Competitor orientation
50
COMPETITIVE ANALYSIS TEMPLATE
Company highlights Market information Product information SWOTT analysis
51
Company highlights
Company Profile Key Competitive Advantage
52
Market Information
Target market Market share Marketing strategy
53
Product information
Products & Services Pricing Distribution channels
54
SWOTT analysis
Strengths Weaknesses Opportunities Threats Trends

Technopreneurship Midterms (11 decks)

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