Notes for Unit 2 Test (A-D)
Notes for Unit 2 Test (A-D) Econ 301
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This 5 page Bundle was uploaded by Blair Finkel on Sunday October 11, 2015. The Bundle belongs to Econ 301 at Syracuse University taught by I. O'connor in Summer 2015. Since its upload, it has received 23 views. For similar materials see Intermediate Microeconomics in Economcs at Syracuse University.
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Date Created: 10/11/15
Mullin s Test Prep Chapter 2 The micro market test Target Segment Bene ts amp Attractiveness Micro Level Market Domain What customer pain will your offer solve How can you change your bad experience with a good expenence Will the sh bite at a price that works Who are the customers who have the pain and will be given the detht Do you have market research on the segment that your targeting How do you differentiate yourself and what are your core competencies How do you know that customers will buy Evidence What evidence can you provide that your market is pro table and will grow What other segments exist that can bene t from a related offering Transferrable capabilities among segments What key micro market risks remain to which early attention should be given Market limain 3ndth mmati39ln l Nil F 41M r ft u 1 l 1139 ll alien wJEDllJuiI l n quotit u Emmei remess ngml wn lms 7 inflame Elli1mm mnl i ILIE1II39IEII Wish Aspirations Propensity Eislli Ahn39ililty tni IE 4 s Mimi flannel Macro attractiveness of the industry Chapter 3The Macro Market Market Attractiveness Macro Level Market Domain What sort of business do you want Potential to be big or small servicing a niche market How large is the market you will serve and how many ways have you meansure it How fast has it grown over the last 13 years How quick will it grow in the next 6 months or 2510 years What trends can you identify and what effect good or bad will it have on your business 0 Economic demographic sociocultural technological regulatory natural based on evidence you get from answering what key macro market issues exist to which immediate attention should be given Chapter 4 The Macro Industry Test Industry Attractiveness Macro Level Industry Domain What industry will you compete in De ne carefully Is it easy or dif cult to enter this industry competition Do suppliers in this industry have the power to set terms and conditions Is it easy or dif cult for sub products to seat your market is competitive rivalry intense or gentile Based on all 5 forces what is the overall assessment of how attractive it is Porter s 5 Forces Is your industry a poor performer or do they have potential for growth Chapter 5 Competitive amp Economic sustainability Micro Level Industry Domain Micro Industry Test Do you possess proprietary elements others cannot duplicateimitate 0 Patents 0 Trade secrets 0 Can your business develop and develop resources that others will have problems copying Is our business model economically sustainable will your company run out of cash quickly 0 Will your revenue be adequate relevant to capital investment and margins you can get 0 How much will it cost to acquire and retain customers 0 How long will it take to attract customers 0 Will your contribution margins be adequate to cover your cost structures sometime soon 0 How much cash must be tied up in working capital and for how long 0 How quickly will customers pay how slow will suppliers and employees be paid Chapter 6 Mission Aspirations and Propensity for Risk Middle circle in 7 domains What s your entrepreneurial mission 0 To serve a particular market 0 To change a particular industry 0 To market a particular product o Is the passion really there Passion for dream 0 To work for yourself 0 To build something small or big 0 To create to manage to lead 0 To change the world in some way What risks are you and are you not willing to take 0 Will you risk a secure salary And things that go along with your current employment 0 Will you risk losing control of your business 0 Will you put your own money at risk 0 Will you risk your home or time with family loved ones 0 Do those you love accept the risks you ll take Chapter 7 Ability to execute on CSF middle circle The Can You Execute Test What are the few CSF Critical Success Factors in your industry What support can you provide that can show you identi ed them correctly Can you demonstrate in past deeds that your team taken together can execute on each and every CSF Have you identi ed which CSF your team is not prepared to meet for which you need help in lling out your team What risks if any do answers of the above add to your risk list Chapter 8 Connectedness Up and Down the Value Chain Connectedness Test Who do you and your team knows up in the value chain in the companies that are likely suppliers to your proposed business and to your competitors Do you also know suppliers to companies in other industries that offer substitute products for yours Who do you and your teams know down the value chain among distributors and customers you will target both today and tomorrow Who do you and your team know across the value chain among your competitors and substitutes Are there any key gaps in your teams connections and how can you ll them Chapter 10 Customer Driven Feasibility studies What investors are looking for in your 7 domain analysis Chapter 11 Long Interviews There are Floating Prompts Planned Prompts etc Buying Patterns Chapter 12 Customer Funded Models Types of Models 0 Match Maker Models 0 Pay in Advance 0 Subscription o Scarcity Based o ServiceProduct Chapter 13 Market Analysis Worksheet Trends in the market reguatory natura demographic socio cultural economic technoogica Chapter 14 industry analysis checklist Threat of Entry Supplier Power Buyer Power Rivalry Threat of Subs Chapter 15 Do It Yourself Marketing Research collecting and analyzing data qualtrics and different kinds of surveys you can make different kinds of research you can do 0 secondary 0 primary 0 focus groups Chapter 16 Evidence Based Forcasting how you observe do surveys cacuate your purchase intent percentage response rule of thumb for forecasting purposes for de nitely would buy x 08 prob would buy 03 might or might not buy 0
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