entrepreneurship

• Rebranding


  The process of changing the corporate image of an organization. It is a market strategy of giving a new name, symbols, logo, slogan, vision, mission, values, name, target audience, or market to build a new brand identity in the minds of leads, customers, competitors, and partners. It helps brands attract new audiences, stay relevant, stand out among competitors, and improve brand awareness.
• Partial rebrand


  Situations when a brand has been firmly established yet is simply outdated or needs to be refreshed. Tweaking is required. Not a full rebrand.
• Total rebrand


  Situations when a brand's intent to erase any previous brand identity and replace it with completely new imagery.
• 4 M's

  • Manpower
  • Machine
  • Method
  • Materials
• Manpower


  Personnel or laborer should be listed accordingly from the managerial position, supervisory position to the staff or workforce needed in the operation of the business. In the selection process, it is best to identify applicants having the necessary knowledge, skills, abilities and other characteristics to help the organization achieve its goals. Both the aptitude and attitude level of the applicant should be considered in the hiring process.
• Machine


  The specifications of a manufactured product normally include the general and technical descriptions of the products. The general specifications state the basic description of the product and services while the technical portion includes the detailed information related to the design and construction of the products and are normally prepared with the help of an engineer.
• Method


  Manufacturing is the conversion of raw materials into finished products. The sequence of operations should be clearly defined to ensure proper execution thus assuring the consistency of the quality of the product. The plant size and production schedule are determined based on the projected demand. The demand is calculated using the applicable forecasting method and adjustment considering the other factor of production.
• Materials


  The materials include both direct and indirect or consumable materials. The specifications, quantity needed, and the schedule of delivery should be clearly stated. Utilities include power, water, and sometimes gases and steam depending on the type of product or services.
• Product description


  The product description should be audience-friendly, speak to your target, so that conversions will be optimized. The content will match what the audience needs to read to improve the conversions and customer retention.
• Prototype


  Prototype can help add value to a project as well as credibility. In some instances, the company will need to innovate to be able to prove that the concept works and that the theoretical design translates into a working model. Prototype development is not essential, but can add value to a project.
• Advantages of prototype

  • It tests and refines the functionality of the design
  • It makes possible to test the performance of various materials
  • It will help you describe your product more effectively
  • It will encourage others to take it more seriously
• Services


  Services are rental goods, alteration or repair of goods owned by consumers and personal services. Services are intangible products that satisfaction can be measured in future references.
• Types of services


  • Rented goods service - the consumer rented the facility or products of the sellers in a certain period of time
  • Owned goods service - repair and maintenance services rendered by the sellers to the products of the customer
  • Non-good service - personal service on the part of the seller; most common are the expertise and the profession of the seller
• Characteristics of services


  • Intangibility - services that cannot be displayed, transported, stored, packaged, inspected before buying
  • Perishability - Services cannot be stored for future sale
  • Inseparability - Service provider and services cannot accomplish the purpose if one is missing
  • Variability - Service is difficult to standardize because it varies upon the performance of the provider
• Types of labels


  • Brand label - It is simply brand alone that is applied to the product or package
  • Descriptive label - It gives objective information about the product's use/s construction, care, performance, and other pertinent features
  • Grade label - It identifies the product's quality with letters, numbers or words
• Functions of labels

  • The labels identify the product or brand in the market
  • They describe the product features and uses
  • They serve as an advertising medium with its colors and design
  • They create lasting impression about product quality
• Raw materials


  These are the unprocessed and basic materials that is used to produce goods, finished products, energy, or intermediate materials