Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Technopreneurship Midterms > Enumeration two > Flashcards

Enumeration two Flashcards

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Types of Value

A

Intrinsic value
Exchange
Use
Utilitarian

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Elements of Value Proposition

A

Target Market
Specific value
Customer connection

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Characteristics of Value Proposition

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Customer Profile

A

Customer Jobs
Pains
Gains

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Types of customer jobs

A

Functional
Social
Personal/emotional

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Another types of customer job in context of puchasing

A

Buyer of value
Cocreator of value
Transferrer of value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Four main types of customer gains

A

Required
Expected
Desired
Unexpected

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Value Proposition Map

A

Products and Services
Pain relievers
Gain creators

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Types of products and services

A

Physical/tangible
Intangible
Digital
Financial

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Fit happens in three stages

A

Problem-Solution Fit
Product-Market Fit
Business Model Fit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Types of market

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Medium of Mass Marketing

A
  • Social Media
  • Television / Radio
  • Newspapers
  • Magazines & Email Marketing
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Types of Market Segmentation

A

Demographic
Behavioral
Geographic
Psychographic

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Psychographic characteristics

A

Attitude
Beliefs
Interest
Lifestyle
Personality traits
Values

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Behaviors to consider

A

Online shopping habits
Website actions
Benefits sought
Usage rate
Loyalty

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Other Methods of Market Segmentation

A

Value
Firmographic
Generational
Lifestage
Seasonal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Disadvantages of Market Segmentation

A

Increase a Company’s Rising Cost
Production Problems
Unprofitable Goal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Goals of Market Analysis

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

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

A

Gross profit
Net profit
Operation profit
EBITDA

25
Q

Elements in Porter’s value chain

A

Primary activities
Support activities

26
Q

Primary activities

A

Inbound logistics
Operations

27
Q

Types of operations

A

Outbound Logistics
Marketing and sales
Service

28
Q

Support activities

A

Procurement
Human resource management
Technological development
Infrastructure

29
Q

Types of channels of distribution

A

Direct
Indirect

30
Q

Three categories of indirect channels

A

One-level
Two-level
Three-level

31
Q

Distribution systems consider

A

Understanding of the Existing Distribution Channels
Trends and Emerging Channels
Power Structure of Channels

32
Q

Key success factors

A
  • 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
Q

Competitor Analysis

A

Your business’s strengths and weaknesses
Market understanding
Specific industry trends
Required benchmarks for future growth

34
Q

STEPS IN CONDUCTING COMPETITOR ANALYSI

A

Identifying Competitors
Assessing Competitors (Competitor Matrix)

35
Q

Types of competitors

A

Direct
Potential
Indirect
Future
Replacement

36
Q

STEPS IN ASSESSING COMPETITORS

A

Determining Competitors’ Objectives
Identifying Competitors’ Strategies’
Assessing Competitors’ Strengths and Weaknesses
Estimating Competitors’ Reactions

37
Q

Three levels at which strategies are used

A

Corporate
Business
Functional

38
Q

5PS

A

Product
Price
Place
Promotion

39
Q

Specific moves and strength

A

Competitor’s objectives
Competitor’s strategy
Competitor’s assumptions
Competitor’s resources and capabilities
Customer response profile

40
Q

Offensive

A

Direct Attack
End-run
Pre-emption
Acquisition

41
Q

Defensive

A

Advertising
Highlighting
Exclusion

42
Q

Types of competitors to attack and avoid

A

Strong or Weak Competitors
Close or Distant Competitors
Finding Uncontested Market Spaces

43
Q

Types of Marketing Strategies

A

Cause
Relationship
Word of mouth
Paid
Diversity
Transactional
E-marketing
Undercover
Offline

44
Q

Approaches in Marketing Strategy

A

Entrepreneurial
Formulated
Intrapreneurial

45
Q

Competitive Strategies

A

Cost leadership
Cost focus
Differentiation
Differentiation focus

46
Q

Competitive Positioning

A

Market Leaders
Market challengers
Market followers
Market nichers

47
Q

Market Challengers types

A

Frontal attack
Flanking attack
Encirclement
Bypass attack

48
Q

Types of market followers

A

Counterfeiter
Cloner
Imitator
Adaptor

49
Q

Balancing Customer and Competitor Orientations

A

Market Orientation
Product orientation
Customer orientation
Competitor orientation

50
Q

COMPETITIVE ANALYSIS TEMPLATE

A

Company highlights
Market information
Product information
SWOTT analysis

51
Q

Company highlights

A

Company Profile
Key Competitive Advantage

52
Q

Market Information

A

Target market
Market share
Marketing strategy

53
Q

Product information

A

Products & Services
Pricing
Distribution channels

54
Q

SWOTT analysis

A

Strengths
Weaknesses
Opportunities
Threats
Trends

Technopreneurship Midterms (11 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions