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entrepreneurship theory process practice

Questions and Answers of Entrepreneurship Theory Process Practice

Besides her own boutiques, specialty stores, and through the Internet, what might be some additional sales venues for Malia Mills Swimwear to consider exploring?
The case mentions that Malia Mills Swimwear is currently experimenting with paid advertising. If you were in charge of marketing for the company, how would you assess whether or not it was cost
What could 23andMe's new pricing structure suggest about its brand? In other words, what risk(s) did 23andMe take when it cut its basic price by more than half?
Perform an Internet search on either a product or service comparable to what you plan to market, or one that you personally own or use. Attempt to find at least three sites that sell it.• List the
Obtain ad rates from two local radio stations, a local newspaper, and a cable television channel and complete the table below.Media Advertising Reach Rates Radio Radio N ewspaper Cable
Visit the U.S. Census Bureau Web site at http://www.census.gov. Pull up the census tract data both for your home address and for your campus address. If the tracts are the same, pick another college
Answer the questions below and use them to write a press release for your business.• What was your life like before you began the study of entrepreneurship?• Were you having any problems in
What is the relationship between price and image? Why is it important?
Meet with a partner and discuss the pros and cons of the basic pricing strategies-value pricing, cost-plus, penetration strategy, skimming strategy, and meet-or-beat-the-competition-for your
Visit three independently owned businesses in person that are in the same industry. Identify the target market for each (demographic, lifestyle, and the like). Note the various advertising and
Visit a library (public or college) and locate its reference section.Which resources could help you to open a business like Honest Tea?Identify at least six such resources.
Name four common marketing objectives. Explain why each is important.
Explain why breakeven is such a critical concept for any organization.
What is penetration pricing? Can you think of an example of a company that has used penetration pricing to introduce a new product?Which firm was it and what was the product?
What role should the unique selling proposition play in a company's advertising strategy?
Why does viral marketing have such success potential? How can a viral marketing campaign work against a company?1
What is the role of demographic information in the selection of a retail-location option?1
Use the following chart to describe your marketing mix.Your Business Product Place Price Promotion Philanthropy
Identify the c ritical components of a ma rketing plan.
Find the best location for maximum efficiency and effectiveness of distribution.
Price your products for success.
Combine the Four P's-product, price, pla ce, promotion-into a ma rketing mix.
What is the role of marketing in McCormick's business?Case Study Analysis
How did McCormick identify AEI's market?Name the segmentation method and the segment they chose.
What research methods would you recommend for AEI today? Name three specific sources of information.
Read and interpret the chart in Figure 4-2.• Which single provider has the largest market share? What is the percentage?• What share do the two largest suppliers enjoy together?• How much
Describe where you think your product or service is in the product life cycle.
Write a positioning statement for your business or one that you can envision.
Choose five people from your identified market segment to research with a survey. Write 10 questions in a yes-or-no format, and ask the survey participants to frame their responses on a scale of one
Step Two: Market Analysis• How large is the total market for this product or service? How did you arrive at this figure?• Which segment of this market would you target? Why? How large is the
Step One: Consumer Analysis Describe the typical consumer for your business or for one that you can envision.Age Income Attribute 1 My Customer Educ ation Hobbies Other What need do you plan to
G ive an example of a company that fun ctions as an organization that ma rkets.
G ive an example of a company that you believe operates as a market-driven org anization, and why you think so.
Choose your ma rket segment and resea rch it.
Understa nd how market resea rch prepares you for suc cess.
Would you like to work for Bud Konheim? Why or why not?
Why does the company sew their clothes in New York City when they could get them sewn cheaper in Asia?
Why did this dress design and manufacturing company open its own store?
Can a company's pricing strategy really be about selling happiness?
How did the founders manage to launch a company and see $600,000 in sales the very first month?
What was the opportunity that Nicole Miller and Bud Konheim noticed?
What competitive advantages does Amador Bilingual Voice-Overs have in the voice-over field? List them and indicate whether each is based upon quality, price, location, selection, service, or
Which methods of deciding upon business opportunities did Rosi and Brian Amador pursue?
Ippy participated in a program that helped her turn her sewing talent into a business. What type of assistance was it? Who provided it?Case Study Analysis
Why might Business Week have named Ippy as an America's Best Young Entrepreneurs finalist?
What knowledge, skills, and abilities did Ippy have before starting her company?What start-up costs did she have?
How did Ippy identify her market?
Visit http://www.download.cnet.com/windows and find three shareware programs that would be of value to you as an entrepreneur.
If the FX rate between the dollar and the euro falls to $1 = €1, would this still be a good business idea for you? Why or why not?
Is this a good business opportunity for you? Why or why not?
How much would that profit be in dollars?
How much profit would you get from the sale of each CD in the German store?
Understand how to value a business.
Ana lyze your competitive advantage.
D efine your business.
When Stephen Wozniak and Steve Jobs envisioned a computer in every home, computers were large, expensive machines available only to the government, universities, scientists, and very large
Gross profit is the money earned by a business before which other costs are subtracted?
Describe three core values you would use to run your own company.
Describe any international competitors you have found who may be able to access the same customers. How would you compete?
Are there customers for this business in other countries? How would you plan to reach them?
If so, what was the source of assistance?
Did the owner have any assistance in writing or reviewing the plan?
If he or she did not write a plan, why not?
If he or she did write a plan, for what has it been used?
Ask whether he or she wrote a business plan before starting the business. Since then?
Why is it important to identify a business's culture from the beginning?
How can spending time researching and writing a business plan save an entrepreneur time and money in the short and long term?
Print an assignment or any body of text with l-inch margins, double spaced, using 1 2-point Times New Roman. Then, print the same document with 0.8-inch margins, single spaced, using the 1 0-point
One mistake entrepreneurs make in their business plans is that of including only an income statement. What other financial statements should be incorporated and why?
Visit an Intemet shopping site such as the Home Shopping Network(http://www.HSN.com) or QVC (http://www.QVC.com). Select five products that are being sold that you find interesting or unusual.Make a
What factors make the difference between a good business plan and an excellent one? (Hint: Use the chapter data and rules from competitions.)
Charity and Devon are planning to license technology from NASA that would make it impossible to accidentally lock a child in a car.The technology is complex, and the market analysis and financial
Explain the various pu rposes of a business plan and the audience for each.
EET is a family business. How do Michael and Sheena address the issues of balancing the demands of the business with those of the family?
Is the EET a business model that would be conducive to franchising? Why or why not?
What are the key messages that the EET delivers to prospective entrepreneurs?
How did Michael and Sheena determine that the EET was a sound idea? Did they use a feasibility analysis? What ideas did they discard before deciding on the EET?
What motivated Michael and Sheena to start the EET?
Prior to starting the EET, what types of things did Michael and Sheena do to help themselves build entrepreneurial knowledge/skills?
Is there a future for Craigslist? What might that future look like?
How is Newmark's personality reflected in his company?
Do you think Craig Newmark thought through the Craigslist idea well enough before he launched the business?
What unmet needs of the customer, or conditions in the apartment hunting and job search processes, contributed to the success of Craigslist?
Identify three businesses or ideas from the site, and state why they might, or might not, be viable opportunities.
Is the Web site selling a product or information (as a primary function, not through banner ads)? If so, what?
Visit the U.S. Small Business Administration for brochures and other material. Find an office in your area or go to http://ww.sba.gov.
Do you agree that it will probably take about three months for your business to start earning a profit? Why or why not? If not, how long do you expect it to take, and why?
Define small business.
List five business opportunities in your area/neighborhood and the need(s) each would satisfy. Note whether the opportunity you describe is internal, external, or a mix.
Give an example of a change that has occurred or is about to occur in your area/neighborhood. Discuss any business opportunities this change might create.
Explain how a business opportunity differs from a business idea.
If you were to start a business, what would be your opportunity cost?In other words, what is the next-best use of your time? How much money could you make working at a job instead? The answer to this
Identify three nonfinancial benefits of entrepreneurship that might be important to you. Write a paragraph about each.
What would be the best thing about owning your own business?What would be the worst?
Find and eva luate opportunities to sta rt your own business.
2.1. Describe the entrepreneurial mindset and entrepreneurial cognition
2.2. Identify and discuss the most commonly cited characteristics found in successful entrepreneurs
2.3. Describe the skills of entrepreneurial hustle and coachability
2.4. Identify how entrepreneurs deal with failure
2.5. Describe the entrepreneurial experience

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