TECHNOPRENEURSHIP - It is the use of technology as an integral

and key element in the transformation of goods and services.

ENTREPNEURSHIP - The ability and readiness to develop, organize
and run a business enterprise, along with any of its uncertainties in
order to make a profit.
IDEAS - The indispensable start-up ingredient all inventions and
innovations needed.
INVENTION - Creation of new/original product, device, process or concept.
INNOVATION - Introduction of a newer and better solution that meet new
requirements or existing market needs
PRODUCTS - -are physical items that include raw materials, parts,
subassemblies.
SERVICES - -are activities that provides some combination of time,
location, form, or psychological value.
TEAM FOUNDATION - A team is a group of individuals working together
to achieve their goal.
CUSTOMER - an individual or business that purchases another
company’s goods and services.
CUSTOMER IDENTIFICATION - Allows marketers to target their efforts
with precision
VALUE PROPOSITION - Identifies the benefits a company's products and
services will deliver to its customers.
MARKET - “Marcatus” which means “merchandise, wares, traffic, trade
or a place” where business is conducted.
MARKET IDENTIFICATION - marketing approach and process that
is intended to define the specific customer of the product.
MARKET SEGMENTATION - uses well-defined criteria to divide a
brand's total addressable market share into smaller groups.
TYPES OF MARKET SEGMENTATION
GEOGRAPHIC
City, Country, Climate, Time zone, Zip code, Population density,
Dominate language, Distance from a certain location
DEMOGRAPHIC
Age, Gender, Income, Occupation, Race, Religion, Family Size,
Ethnicity, Education, Marital status
PSYCHOGRAPHIC
Values, Goals, Needs, Pain points, Hobbies, Personality traits,
Interests, Political party affiliation, Sexual Orientation
BEHAVIORAL
Purchasing habits, Brand interactions, Spending habits,
Customer loyalty, Actions taken on a website

BENEFITS OF MARKET SEGMENTATION

Ÿ COST EFFICIENT
Ÿ EFFECTIVE MARKET CAMPAIGNING
Ÿ HIGHER RATE OF SUCESS
Ÿ HIGHER CUSTOMER SATISFACTION
Ÿ INCREASES COMPETITIVENESS
Ÿ INCREASES PROFITABILITY
Ÿ KNOW YOUR CUSTOMER BETTER
Ÿ PROVIDES MARKET OPPORTUNITIES
Ÿ RETENTION OF CUSTOMER
Ÿ WISE AND EFFICIENT USE OF RESOURCES
MARKET STRUCTURE - the way that various industries are classified and
differentiated in accordance with their degree and nature of competition for
products and services.
TYPES OF MARKET
Perfect competition - is a large number of small companies competing
against each other. Ex. Agricultural Industry
Oligopolistic markets - consists of a small number of large companies
that sell differentiated or identical products. Ex. Pfizer, Unilab,
Monopolistic market - a single company represents the whole industry.
Ex. Facebook, Google, Beneco, Microsoft
Monopolistic competition - an imperfectly competitive market with the
traits of both the monopoly and competitive market. Ex. Samsung, Iphone,
MARKET ANALYSIS - A detailed assessment of your business's target
market and the competitive landscape within a specific industry.
OBJECTIVES OF MARKET ANALYSIS
✓ Determine the attractiveness of market.
✓ Find and identify new business opportunities.
✓ Targeting and dividing the market into niche.
✓ Positioning the products or brands in the mind of customers.
✓ Understand the dynamics of the market.
MARKET DIMENSION - specific processes that form the market value
of the business’s brand and products as well as those that impact the
accessibility of these products to the consumer.
DIMENSIONS OF MARKET ANALYSIS
Market Size – total number of potential buyers for a product
or service and potential revenue reach based on that population size.
Market Segment – people who are grouped together for
marketing purposes.
Market Trends – the direction of the asset’s price over time.
Market Growth Rate – the change in a market’s size over a
given period, typically expressed as percentage
Market Profitability – takes account of the financial factors
that affect your ability to make profits.
Industry Cost Failure – those incurred by a manufacturer
when it produces defective goods.
Distribution Channel – the path used to get a product form
the manufacturer or creator to the end user.
Key Success Factor – success factors are strategic focus,
A people, operations, marketing, and finances.
BENEFITS OF MARKET ANALYSIS
1. Spot trends and opportunities in your industry
2. Differentiate your business from competitors
3. Reduce the risks and costs of launching a new business
4. Tailor products and services to your target customers’ needs
5. Analyze successes and failures
6. Optimize your marketing efforts
7. Reach new market segments
8. Monitor your business’s performance
9. Pivot your business in new directions
PERFORMING MARKET ANALYSIS
1. Research your industry
2. Investigate the competitive landscape
3. Identify market gaps
4. Define your target market
5. Identify barriers to entry
6. Create a sales forecast