Week 12 Notes
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This 3 page Class Notes was uploaded by JacksonB on Thursday November 19, 2015. The Class Notes belongs to 241 at Brigham Young University taught by Swenson in Summer 2015. Since its upload, it has received 44 views. For similar materials see Marketing Management in Business at Brigham Young University.
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Date Created: 11/19/15
BUS M 241 Swenson Tuesday 111715 Entrepreneurial Marketing Big businesses are like Goliath entrepreneurs are like David They cannot follow the same tactics of wellestablished powerful companies David could not use armor and swords because he wasn t comfortable with them They must play to their own strengths just like David stuck to his sling and stones Finding New Ideas Most entrepreneurs form new ideas by adjusting something that already exists to make it unique Refine and Design Example A small company named Symbiosis adjusted the design of chap stick containers by attaching a clipon leash to the tubes called Chap Grip The idea was to help people who lose their chap stick FourStep Ideation Process Select a problem area Explore a specific area Propose the test alternative product ideas P9P Perfect the top product idea Oysters entrepreneurs with a broad perspective they wait for any opportunity that comes their way Eagles entrepreneurs with a very focused perspective they have something very specific in mind Both oysters and eagles rely on their observation skills and discussions with potential customers about problems they have with alreadyexisting products Keys to Finding Big Ideas Solve everyday problems Ride waves of interest and popularity Stretch or entertain to the extreme P9P Cool hunting in other areas of the world Assignment 4 develop a new product ideas that fit with each of the above categories Be sure to describe the new product 13 original ideas and one idea that already exists but is outside the local market cool hunting Due on Thursday December 3rd at 1159 PM Submitted on MyEducator BUS M 241 Swenson Thursday 111915 Guest Speaker Bob Nilsen Chairman of the Board for Cafe Rio We give off a certain level of energy depending on how we interact with people our body language facial expressions whether or not we greet people etc aces in their places To be successful in our careers marriages etc we should never never never give up Word of mouth is incredibly powerful in the digital age of today If it s for us we will succeed If it s against us we will fail Circle of Growth 1Peope 4Profit 3Sales
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