Entrep 2.0

• Breakthrough products


  Innovative, groundbreaking, and transformative items or services that significantly change the way people perceive, use, or interact with a particular product category
• Differentiated products


  Try to claim a new space in the mind of the customers different from the spaces occupied by existing products
• Copycat products


  Also known as knockoffs, imitations, or clones, are items that closely resemble or imitate the design, features, or functionality of an existing product without the permission of the original creator
• Niche products


  Refer to items or services that cater to a specific, targeted, or specialized segment of the market. These products are designed to meet the unique needs, preferences, or interests of a particular group of consumers who may not be well-served by mainstream offerings
• Price


  Serves as a crucial factor in determining the demand and supply of goods and services in the market
• Advertising


  • Involves paid promotional messages through various media channels such as television, radio, newspapers, magazines, social media, and online platforms. Advertisements aim to create brand awareness and influence consumer behavior
• Public Relations (PR)


  • PR activities focus on building and maintaining a positive image for a brand or product through media coverage, press releases, events, and sponsorships. It helps to establish credibility and trust among the target audience
• Sales Promotion


  • Short-term marketing tactics used to stimulate consumer purchasing, such as discounts, coupons, buy-one-get-one-free offers, contests, and giveaways. These promotions often have a limited duration and are designed to create a sense of urgency
• Personal Selling


  • Direct communication between a salesperson and a potential customer, aiming to persuade them to buy the product. This can occur through face-to-face interactions, telephone conversations, or online chat sessions
• Direct Marketing


  • Involves directly communicating with potential customers through various channels like mail, email, or text messages. The goal is to promote the product and encourage a direct response, such as making a purchase or signing up for a service
• Digital Marketing


  • Utilizing digital platforms and strategies, such as social media, search engine optimization (SEO), content marketing, and influencer marketing, to reach and engage with target audiences online
• Event Marketing


  • Organizing or participating in events, trade shows, or exhibitions to showcase and promote the product to potential customers in person
• Product Placement


  • Strategically placing a product in a TV show, movie, or other forms of media to increase its visibility and appeal to the audience
• This principle focus more on communicating the value and benefits of the product or service to potential customers through various marketing channels
• Types of products


  • CONSUMER PRODUCTS
  • INDUSTRIAL PRODUCTS
• CONSUMER PRODUCTS


  Goods intended for individual or household use
• INDUSTRIAL PRODUCTS


  Goods meant for business use, such as raw materials, components, and capital goods
• Types of products


  • DURABLE
  • NO DURABLE
• DURABLE


  Products designed to last for a relatively long time and are not consumed or exhausted by use. Examples include appliances, furniture, and automobiles
• NO DURABLE


  Products that are consumed or exhausted during the normal use and have a short life span. Examples include food, beverages, and personal care products
• Types of products


  • SERVICES
  • TANGIBLE
  • DIGITAL
  • AUGMENTED
• SERVICES


  Intangible offerings that provide utility or benefits to customers, such as transportation, healthcare, education, and entertainment
• TANGIBLE


  Physical goods that can be touched, seen, and held. Examples include clothing, electronics, and furniture
• DIGITAL


  Intangible, digital-based goods that can be delivered electronically, such as software, e-books, music, and online courses
• AUGMENTED


  Products that include additional features or services beyond the basic product, often to enhance the customer experience or provide added value. Examples include extended warranties, customer support, and loyalty programs
• PRIVATE LABEL


  Goods manufactured by one company but sold under another company's brand. They are common in supermarkets and retail stores
• CUSTOMIZED


  Tailor-made products designed to meet the specific needs or preferences of individual customers. Examples include bespoke clothing, personalized gifts, and custom-built homes
• Executive Summary


  A brief summary of the entire business plan and is usually the first section
• Market Analysis


  The part of a business plan that would include information about the target market and customer demographics
• Products and Services


  The section that describes the company's products or services
• Organizational Structure


  The part of a business plan that would include information about the company's management team and organizational structure
• Financial Projections


  The section that outlines the financial expectations and projections for the business
• Marketing Strategy


  The section that would include information about the analysis of the competition, a crucial aspect
• Financial Projections


  The section of a business plan that would include information about the company's financial history and future projections
• Market Analysis


  The part of a business plan that would include information about the company's competition and industry trends
• Executive Summary


  The section of a business plan that would include information about the company's goals, objectives, and strategies
• Human Resources


  The part of a business plan that would include information about the company's resources, such as personnel and equipment
• Sales Forecast


  The section that discusses the company's current financial situation and historical performance
• Operations Plan


  The section that would provide details about the production process, supply chain, and distribution channels
• Goals and Objectives


  The section that outlines the company's short-term and long-term goals