This document provides an overview of how to analyze markets, customers, and competition when starting a new business. It discusses identifying niche markets, conducting market segmentation, evaluating competitors, developing a pricing plan, and positioning products or services. Key aspects covered include defining target customer segments, conducting competitive analyses, assessing strengths/weaknesses, and determining appropriate pricing strategies. The document provides questions to consider and sample evaluations for each step of the market analysis and planning process.
B Business and Management (Standard Level)
All material taken from the IB Business and Management Textbook:
"Business and Management", Paul Hoang, IBID Press, Victoria, 2007
B Business and Management (Standard Level)
All material taken from the IB Business and Management Textbook:
"Business and Management", Paul Hoang, IBID Press, Victoria, 2007
Opportunity Seeking In Entrepreneurship, Spotting Business OpportunitiesJorge Saguinsin
This is a lecture for entrepreneurship elective in Ateneo Graduate School in the Philippines, a leading school in MBA education. The presentation has been uploaded at slideshare for the convenience and ease of access of present and former students for the said elective. Since the presentation has been updated, the students get the newest and latest.
The most difficult part in any entrepreneurial venture is determine which business to get into. This is often stymied mostly, by seeming overcrowding and lack of opportunity in the market place. The presentation says that there are many ways to seek for those opportunities.
It is about sales techniques for sellers at Holy Gardens Memorial Park. It is intended for sellers and marketers of memorial park who find difficulty in selling the park
Copyright 2015 Jack M. Kaplan & Anthony C. WarrenPatterns AlleneMcclendon878
Copyright 2015 Jack M. Kaplan & Anthony C. Warren
Patterns of Entrepreneurship Management
5th Edition, Chapter 4
Chapter 4
Customer/
Market
Analysis
Competitive
Analysis
Pricing &
Positioning
Customers, Markets,
Competitors in a Digital World
Internet
Market
Research
Copyright 2015 Jack M. Kaplan & Anthony C. Warren
Presentation Outline
• Customer/Market Analysis
– Niche or target markets
– One to One Marketing
– Define the Market Segmentation
– Market Research
• Evaluate the Competition-Sample Evaluation
• Prepare the Pricing Plan
• Position the Product or Service
• Using The Internet for Market Research
Chapter 4
Customer/
Market
Analysis
Competitive
Analysis
Pricing &
Positioning
Internet
Market
Research
Copyright 2015 Jack M. Kaplan & Anthony C. Warren
Niche, Verticals and Target
Markets
➢ A niche market is a small segment of a
large market ignored by other companies
➢ A vertical market is a specific sector or
class of customers that may require
different products and/or be acquired
through different marketing channels
➢ Target marketing is a strategy to focus on
segments of a market and prepare a plan
for each market segment or vertical.
Chapter 4
Customer/
Market
Analysis
Competitive
Analysis
Pricing &
Positioning
Internet
Market
Research
Copyright 2015 Jack M. Kaplan & Anthony C. Warren
Rogers’ Bell-Curve - Customer Adoption Patterns
When introducing a new product or service, you should target
customers who are more likely to try something new – the
innovators and early adopters. They are usually not price-sensitive.
These customers can usually be found and attracted using social
media methods.
Chapter 4
Customer/
Market
Analysis
Competitive
Analysis
Pricing &
Positioning
Internet
Market
Research
Copyright 2015 Jack M. Kaplan & Anthony C. Warren
Identifying Customers--Consider the 4 factors
• Market Identification--Current market and service
needs determined
• Current and Best Customers--to allocate resources
to segment the market
• Potential Customers--target by geographical or
industry wide, or ease of reaching via social media
platforms
• Outside factors --identify changing trends
Prepare the Marketing Analysis
and Plan
Chapter 4
Customer/
Market
Analysis
Competitive
Analysis
Pricing &
Positioning
Internet
Market
Research
Copyright 2015 Jack M. Kaplan & Anthony C. Warren
One to One marketing
Learn the profile or details about customers to
identify the most valuable ones.
• Identify customers or get them to identify
themselves
• Link customers identities to their transactions
• Calculate individual customer lifetime value
• Strengthen a customer satisfaction program
• Social media methods, such as on-line advertising,
“click through” links, search engine optimization
and networking on social platforms are excellent
for finding individuals at low cost.
Chapter 4
Customer/
Market
Analysi ...
industry, Industry Analysis, Why is Industry Analysis Important? How Industry and Firm-Level Factors Affect Performance, Techniques Available to Assess Industry Attractiveness, Studying Industry Trends
this presentation pays attention to the to competitor analysis and how to conduct especially for an entrepreneur that's working on a shoe string budget.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
1. copyright 2003 Jack M. Kaplan
Analyzing the Market,
Customers, and
Competition
Patterns of Entrepreneurship
Chapter 3
2. copyright 2003 Jack M. Kaplan
Session Outline
• Niche or target markets
• One to One Marketing
• Define the Market Segmentation
• Evaluate the Competition-Sample
Evaluation
• Prepare the Pricing Plan
• Position the Product or Service
3. copyright 2003 Jack M. Kaplan
Niche or Target Markets
A niche market is a small segment of a
large market ignored by other companies
Target marketing -is a strategy to focus on
segments of a market and prepare a plan
for each market segment.
4. copyright 2003 Jack M. Kaplan
Identify Customers- Consider the 4
factors
Market Identification-Current market and
service needs determined
Current and Best Customers-to allocate
resources to segment the market
Potential Customers- target by geographical
or industry wide
Outside factors -identify changing trends
Prepare the Marketing Analysis and
Plan
5. copyright 2003 Jack M. Kaplan
One to One marketing
Learn the profile or details about customers
to identify the most valuable ones.
Identify customers -or get them to identify
themselves
Link customers identifies to their transactions
calculate individual customer lifetime value
Strengthen a customer satisfaction program
6. copyright 2003 Jack M. Kaplan
Define the Market Segmentation
There are Several Ways to Segment a Market
Demographic Segmentations-divide the market into
groups,based on age,income level and gender
Geographic Segmentation- divide people or
businesses into regional and by location
Psychographic Segmentation-divides into cultural
groups,value or social categories
Ethnic Segmentation- divide by ethic group
7. copyright 2003 Jack M. Kaplan
Do potential customer groups have different
needs?
Can the customers that fit into a given
segment be identified?
Are customers both willing and able to pay?
Is the segment large enough to be profitable?
Can the segment be reached in a cost-
effective manner?
Questions for Effective Segmentation
8. copyright 2003 Jack M. Kaplan
• It is particularly important to identify
which businesses will provide the most
significant competition and predict what
they will likely do.
• Analyze the situation by asking the
questions provided below regarding six key
areas of competition.
Conduct A Competitive Analysis
9. copyright 2003 Jack M. Kaplan
Evaluating the Competition - Marketing Analysis
Potential
Entrants
Threat of
New Entrants
Industry
Competitors
Rivalry Among
Existing Firms
Bargaining Power
of Buyers
Bargaining Power
of Suppliers
Business to Consumers
Business to Business
Internet
Companies
Suppliers Buyers
•Switching Costs of Suppliers
•Importance of Volume to
Suppliers
•Cost Relative to Total
Purchases
•Impact on Cost or
Differentiation
•Access to Distribution
•Government Policies
•Expected Retaliation
•Economics of Scale
•Proprietary Product
Differences
•Brand Identity
•Buyer Concentration
vs. Firm
•Buyer Volume
•Buyer Switching Costs
•Substitute Products
•Product Differences
•Brand Identity
•Impact on Quality/Performance
•Buyer Profile
•Industry Growth
•Product Differences
•Brand Identity
•Exit Barriers
•Diversity of
Competitors
10. copyright 2003 Jack M. Kaplan
Evaluating the Competition
Sample Evaluation
Factors Attractiveness
High Low
competition among
companies
competition is
minimal but w ill
become intense in
1year
The industry is
declining and is
mature
The pow er of
customers
volume is high and
w illing to negotiate
Customer has few
sw itching costs
The pow er pow er of
suppliers
Many substitutes and
sources are available
Limited supply;
products
differentiated
Internet companies No competition
defined on the
internet
Many companies are
entering this market
Potential threats Complex barriers and
costs are high to
enter market
Few simple entry
barriers to enter the
business
11. copyright 2003 Jack M. Kaplan
Measuring the Venture
Strengths and Weaknesses
Sample Evaluation
Factor Attractiveness
High Low
Management team Proven People w ith right
skills not available
Financing You have comfortable
cushion or can raise
capital if needed
You have a narrow
time horizon to make
money
Product development Complete product line One product of
limited life
Sales force Strong contacts;
specialist skills
Limited contacts;
generalist skills
Marketing Deep and tightly-
focused
Untargeted
Operations Strategic alliances
help improve
execution
Learning in a vacuum
12. copyright 2003 Jack M. Kaplan
• How is the competitive product or service defined?
• How is it similar or different?
• Does the competition cater to a mass- or targeted
market?
• What features of the product are superior?
• What strengths or weaknesses of the competition
can be exploited?
Product and Service Questions
13. copyright 2003 Jack M. Kaplan
Price Questions
• What is the competitor’s pricing strategy?
• Is the competitor’s price higher or lower?
• What is the competitor’s gross margin for similar
products?
• Does the competitor offer terms, discounts, or
promotions
14. copyright 2003 Jack M. Kaplan
Industry Competitors
• Define the competition in terms of new, Internet, or
potential threats of existing companies.
• What are the strengths and weaknesses of each?
• How will e-commerce companies affect the
business?
• How can the suppliers or buyers affect the
competition?
15. copyright 2003 Jack M. Kaplan
• How strong is the competitor’s management team?
• What is their background or experience?
• How do they recruit new key employees?
Management team
16. copyright 2003 Jack M. Kaplan
• Is the competitor profitable?
• What volume are sales and market shares?
• Do they spend money for R&D, Internet, and web
development?
• Are they properly capitalized? How strong is their
cash flow?
Financial Questions
17. copyright 2003 Jack M. Kaplan
Prepare the Pricing Plan
Pricing Methods
Value-Price should not be based simply on cost,
plus a modest profit. Instead, price should be
based on the value of the product or service.
Rationale -why prices differ from those of the
competitors.For instance, does the new business
perform a function faster or more efficiently?
18. copyright 2003 Jack M. Kaplan
How to Position the Product or Service
• One way to charge a high price when
competition and substitution are minimal
• Another is to “match competition” by
pricing slightly under the competitor’s rates
to expand one’s own market share (for
example, Motorola or Verizon cellular
phones).
• A third is to substantially under-price the
market, so as to exclude competitors
altogether