Entrepreneurship Reviewer

CHAPTER 1: ENTREPRENEURSHIP
Failure among start-up is due to:
- Lack of knowledge / information about the market or industry.
- Lack of skills on how to manage money, technology, employees, customers, and suppliers.
- The hard work, long hours and stress associated in running the business.
- Lacking in passion, tenacity and persistence, and self-discipline.
- Not enough capital (funds)
- Fierce competition.
- Incompetence to produce a product with good quality, on-time delivery, and low-cost
Entrepreneur
- unique individual who has the innate ability and extraordinary dedication to establish and
manage a business, acknowledging all the risks and reaping good returns and rewards.
Other ways to become one:
- Learn enough how a particular business is run while being employed.
- Take entrepreneurship courses.
- Good business planning.
(include ko na rin para sure)

- Entrepreneur is the person, Entrepreneurship is the process, Enterprise is the outcome

Characteristics of an Ideal Entrepreneur (not sure if need memorized)

- Creativity, Leadership, Goal Orientation, Innovation, Team Building , Risk Taker, Dynamism,
Problem Solver, Commitment
Entrepreneurial Mind Frame
- Allows the entrepreneur to see things in a very positive and optimistic light in times of crisis or
difficult situations
- Crisis is composed of two characters: danger and opportunity
Entrepreneurial Heart Flame
- About emotional intelligence or EQ
- Often manifested in the entrepreneur’s efforts to nurture relationships with customers,
employees, and suppliers
Surging Passion
- The strong will to succeed.
- A great desire to attain a vision or fulfill a mission. It is about wanting something so much
that a person is willing to devote himself totally to the quest.
Entrepreneurial Gut Game
- Ability of the entrepreneur to sense without the 5 senses, also known as intuition
- Gut game also connotes courage or “lakas ng loob” (strong intestinal fortitude)

CHAPTER 2: DEVELOPMENT OF A BUSINESS PLAN

A Business Plan is:
- Flexible
- A guide
- An overview
- Can be reviewed and revised
A Business Plan serves the:
- Entrepreneur
- Investors , financiers
- Managers and staff
Business Idea
- Core thought or the initial footprints of a startup.
- The very thought that led to the birth of the business.
Business Concept
- Framework of ideas that lays down the foundational plan about the birth of a startup and how
it should act in the upcoming time.
- It helps you to act according to a certain plan and creates a virtual path for your future
decisions and planning.
Business Model
- Structure that leads to the formation and execution of a business idea into reality.
- A formula on how the business enterprise exactly plans to make money out of the business.
- It helps you to take actions and several executing actions revolve around the business model.
 7 Areas of money making which the business model must address

1. How will the business raise revenues? What critical factors will cause the revenues to
materialize?
2. Who will produce the goods or render the services? Will it be done in-house or outsourced or
partly in-house and partly outsourced?
3. What will be the cost of making the enterprise products and other costs of doing business?
How will these costs be managed to ensure reasonable profits? What critical factors will drive
the costs up and down? How can these factors be controlled ?
4. What will be the major investments of the enterprise and their justification? How will these
investments give the enterprise a competitive edge?
5. How will the enterprise finance the investments? How will the enterprise fund its growth?
6. What marketing strategies and channels will be used to deliver the goods to customers?
7. Under what terms and conditions will the enterprise enter into with its customers or
marketing channels, its suppliers, and its stakeholders?
Mission statement (MISSION)
- General statement of how you will achieve your vision, a purpose for being of the enterprise.
- The mission statement is an action statement that usually begins with the word "to".
Vision Statement (VISION)
- Mental picture of what you want to accomplish or achieve at a specified future time.
- Strategies are a series of ways of using the mission to achieve the vision.
Goal
- Abstract, big-picture, long-term, short statement of a desired outcome, which is usually broad
and focuses on the intended results and not the methods.
- Achievable outcome that is typically broad and long-term.
- A company might use goals to inform yearly strategies that each department will execute

Objectives
- Turn a goal’s general statement of what's to be accomplished into a specific, quantifiable,
time-sensitive statement of what is going to be achieved and when it will be achieved.
Main differences between a goal and an objective:
- Goals provide direction whereas objectives measure how you should follow that direction
- While goals create a vision with a wide range, objectives focus on the individual, achievable
outcomes.
Goal (Left), Objective (Right)

Business Goals
- show the future and long-term targets of the enterprise.
- It is composed of the vision, mission, goals, objectives, key result areas, and performance
indicators of the enterprise.
To summarize
- The vision and the mission statements must be translated into measurable end results, more
referred to as objectives (must be more specific and smart).
Key Result Areas (KRAs)
- The objectives should then be translated into key result areas or KRAs.
- Qualitative manifestations that the objectives are being achieved.
Performance Indicators (PIs)
- provide the numerical or quantitative measure for each and every key result area (KRAs)

The Executive Summary

Executive Summary
- Contains everything that is relevant and important to the business audience.
- Must contain the major argumentations of the business proponent on why the business will
work and succeed.
Should introduce and highlight the good qualities of:
1. the business proponents and their partners
2. the enterprise organization and its capabilities
3. the technology providers and their expertise and experience;
4. the suppliers and all the major service providers
5. the products / services of the enterprise, their features and attributes, and why they are the
right ones to deliver to the customers.
6. all the other important aspect of the plan
Enterprise Strategy
- Builds and develops the game plan to be competitive.
- Identify how each individual enterprise will compete within its respective market and industry.
The Enterprise Delivery System
- Entire process of converting inputs into outputs, and these outputs into outcomes .
Inputs:
Resources committed to the business, the 6 Ms (nasa table below)
Outputs:
What is counted, numerical count of what is created and delivered
Outcomes:
What the program wishes to achieve, measurable change, an improvement
Example (ata)

The business plan must demonstrate how the ES and the EDS lead to the attainment of the
desired outcomes:
- high customer satisfaction levels;
- high sales volume, market share, and market reach;
- high financial returns
- high people performance, productivity, and morale levels.
Investment requirements
Summaries, analysis and conclusion of the projected:
- income statements
- balance sheets
- cash flows, and funds flow
- Yields and returns, along with the risks and contingency measures

Business Proponents
Stakeholder
- Any person or entity who has interest in the company, can be influenced by the company’s
activities, and must be considered when making decisions.
Types:
● Internal stakeholders
- The individuals or groups within the organization, or anyone who works for the
organization, and actively participate in the management of the company.
● External stakeholders
- They represent outside parties, which affect or get affected by the business activities.

The Business Plan should discuss the major trends and patterns in the macro-environment
(SPEET)
Social environment
- includes the relevant demographics and socio-cultural dimensions
Political environment
- defines the governance system of the country, the laws, rules and regulations
Economic environment
- includes external factor that influence the behavior of costs
Ecological environment
- includes all natural resources that forces the long-term sustainability of the enterprise and its
competitors
Technological environment
- includes trends in the use of technology
 Environmental and Regulatory Compliance
The business plan should ascertain that all the necessary:
- permits, licenses, and authority to use proprietary intellectual capital are secured
- local government ordinances and barangay requirements will be followed.
The company should…
- Be a more responsible corporate citizen
- pay taxes
- comply with all government business requirements
- follow the rules and regulations

Financial Forecasts: Expected Returns, Risks, and Contingencies

Important Return Calculations
The business plan must translate everything discussed into forecasts and outcomes:
- expected return on sales
- expected return on assets or investments
- expected return on stockholders' equity
The business plan should also calculate:
- the long-term returns, using the time value of money (this means estimating the internal rate
of return and the expected net present value)
- Evaluate both the business risks and the financial risks involved.

Capital Structure and Financial Offering: Returns and Benefits to Investors, Financiers, and
Partners
The business plan should contain:
- The capital structure and financial offerings of the enterprise
- who are the investors, the financiers, and the partners
Finally, the business plan must:
- appeal to its target audience by highlighting the main features that they look for in a
business.

The Target Customers and the Main Value Proposition

Target Customers
- must be of sufficient size, have sufficient paying capacity, and with sufficient interest to
purchase the products being offered by the enterprise.
Value Proposition
- The value proposition is a statement that explains the overall benefits a product or service
offers to customers and why it is unique or better than alternatives.
- It highlights the specific value or problem-solving capability addressing the needs, desires, or
pain points of the target market.
Unique Selling Proposition (USP)
- A distinct feature or characteristic of a product or service that sets it apart from competitors
in the market.
- Often used as a marketing strategy to differentiate a brand and attract customers.
In essence
- Value proposition focuses on the benefits and value a product or service provides to
customers.
- Unique Selling Proposition (USP) highlights what makes a product or service different and
better than alternatives.
 Organization Chart
Gantt Chart
- A horizontal bar chart with data on each task in a project

Sorry tinamad
 Seven Rules of Brainstorming
1. Defer Judgment
- Creative spaces are judgment-free zones
- They let ideas flow so people can build from each other's great ideas.
2. Encourage Wild Ideas
- Embrace the most out-of-the-box notions.
- There’s often not a whole lot of difference between outrageous and brilliant.
3. Build on the Ideas of Others
- Try to use “and” instead of “but," it encourages positivity and inclusivity and leads to tons of
ideas.
4. Stay Focused on the Topic
- Try to keep the discussion on target.
- Divergence is good, but you still need to keep your eyes on the prize.
5. One Conversation at a Time
- This can be difficult—especially with lots of creative people in a single room—but always think
about the challenge topic and how to stay on track.
6. Be Visual
- Use colored markers and Post-its.
- Stick your ideas on the wall so others can visualize them.
7. Go for Quantity
- Crank your ideas out quickly. For any 60-minute session, you should try to generate 100 ideas.

CHAPTER 3 - OPPORTUNITY SEEKING (Intindihin lang siguro?)

Opportunity Seeking
- Entrepreneurs are innovation opportunity seekers. They have endless curiosity to discover
new or different ideas and see whether these ideas will work in the marketplace.
- An ordinary businessman simply wants to earn profits from producing, buying, and selling
goods.
Other sources
- Notice emerging trends and patterns
- Find out what specific customer segments are being targeted in the marketplace
- New technologies and new knowledge
Macro Environmental Sources of Opportunities
- macro environment refers to the “big forces” that affect the area, the industry, and the
market, which the enterprise belongs to.
- These forces influence
● how business should be conducted
● how consumers will behave
● how supply and demand will move
● how different competitors would position themselves
● how the cost of doing business will proceed.
 Five Categories:
Social
- Includes the demographics and cultural dimensions that that helps the entrepreneur assess
the trends and dynamics of the bigger consumer population (beliefs, tastes, customs and
traditions)
Political
- Defines the governance of the country, LGU, laws, regulations, licenses and permits
Economic
- Affects revenues and costs, supply vs. demand, and includes the purchasing power of the
household, interest and forex.
Ecological
- includes all natural resources that forces the long-term sustainability of the enterprise and its
competitors
Technological
- The discoveries in technology and science launch products that have superior attributes, while
rendering the old ones in obsolescence, new equipment, new system, new processes

Industry Sources of Opportunities (Will not include yung iba na medj simple since super haba)
The industry participants include:
1. Rivals or competitors in a particular type of business
2. Suppliers of inputs
3. Marketing channels used by industry participants to reach the end consumers
4. Consumer market segments being served by all competitors in the industry.
5. Substitute products or services, which customers shift or turn to.
6. Other industries (education, government, trade, real estate)
Knowing these will help the entrepreneur determine the logic of the industry
1. How do these participants in the industry make or lose money?
2. What critical factors drive the industry’s success?
3. What critical factors lead to failures?
Entrepreneurs must be able to:
- the increase or decrease demand and supply
- product substitutes and their market impact
- market trend analysis
- market traits, characteristics, and behavior
Examples:
- the “more-for-less” strategy
- the ‘‘ value for money’’ differs from group to group
- the time-of-the-day market segment
- strong supply chain
Micromarket
- Refers to the specific target market segment being served by a particular enterprise.
Consumer Preferences
- Refer to the tastes of particular groups of people.
Consumer Dislikes
- Refer to the things that irritate customers.
To win the battle in the many choices of customers’ everyday mind:
- generate awareness of the new product or service
- arouse the customers’ interest to buy
- arouse the customers’ interest to evaluate the product
- arouse the customers’ decision to finally purchase the product
- build brand loyalty
Other Sources of Opportunities: the Changing Needs and Wants
- Customer preferences change overtime. (tastes in clothes, music, shoes, entertainment, dance,
sports, hobbies, and even careers have evolved over the years)
- Customer piques
- The battle – battle for the mind, the battle for the heart, and eventually, the battle for the
wallet

CHAPTER 4 - OPPORTUNITY SCREENING (Intindihin lang siguro?)

Opportunity screening
- Process by which entrepreneurs evaluate innovative product ideas, strategies, and marketing
trends.
The Personal Screen
- Do I have the competence to take on this opportunity and make this viable?
- Do I have the drive to pursue this business opportunity to the end?
- Will I spend all my time, effort, and money to make the business opportunity work?
- Will I sacrifice my existing lifestyle, endure emotional hardship, and forego my usual comforts
to succeed in this business opportunity?
 - Do I have the resources or can I muster the resources to start and grow this opportunity?
Dreamer
- Someone who imagines possibilities that may not correspond to reality.
- More impulsive and creative, and may not have a clear plan or strategy to realize their dreams
- What would we do in an ideal world
- Idea discovery
Realist
- An advocate of realism
- One who believes that matter, objects, etc. have real existence beyond our perception of them
- How can we do it?
- Idea development
Critique
- Is this the best solution?
The Thinking Process of the Entrepreneur (IVVM)
Idealization
- Entrepreneurs dream enormously and desire to build an ideal environment
Visualization
- Starts to create plans to make the dream a reality
Verbalization
- Involves sharing their ideas with other people knowing that their vision is already occurring
Materialization
- Happens when the vision becomes reality,
The 12 Rs of Opportunity Screening
Relevance
- Must be aligned with what you have as your personal vision, mission, and objectives for the
enterprise you want to set up.
Resonance
- The opportunity must match the values and desired virtues that you have or wish to impart.
Reinforcement of Entrepreneurial Interest
- The opportunity must strengthen the entrepreneur’s personal interests, talents, and skills
Revenues
- Determine the sales potential of the products or services you want to offer.
Responsiveness
- Addresses the unfulfilled or underserved customer needs and wants.
Reach
- Opportunity to increase market share to attain rapid growth and better opportunities.
Range
- Widen product or service offerings, tapping many market segments
Revolutionary Impact
- Something that has a major, sudden impact on society or on some aspect of human endeavor,
a game-changer
Returns
- The opportunity to yield the highest returns on investments.
Relative Ease of Implementation
- Less obstacles and easy to overcome competency gaps
Resources Required
- Opportunities requiring fewer resources from the entrepreneur may be more favored than
those requiring more resources.
Risks
- Some opportunities carry more risks than others.

Market Potential and Prospects

Market potential
- Based on the estimated number of possible customers who might avail of the product or
service.
Factors on customers buying:
1. purchasing power or disposable income
2. proximity or accessibility to the goods or services
3. individual desires and preferences
4. age or generation grouping
5. social, cultural, or ethnic background
6. peer group preferences
7. Gender
8. the season of the year
9. personal identification with trend setters
10. educational attainment
11. technical proficiency and product expertise
 12. motivational impetus
13. lifestyle preferences
14. susceptibility to certain advertising and promotional appeals.

To craft a strategy for your competitiveness:

- Assess the competitors’ strengths and weaknesses
- Your capacity to compete
- Quality of your product or service
- or change strategy (Move to less competitive target segment / change location)

Technology Assessment and Operations Viability

Four target customer demands and expectations that affect the enterprise operations:
- Quantities
- Quality specifications
- Delivery
- Price
Investment Requirements and Production/Servicing Costs:
Three Investments that need to be funded:
- Pre-operating Cost
- Production/Service Facilities Investment
- Working Capital Investment
Operating Expenses include:
- Employees salaries, wages and benefits
- Rent and lease expenses
- Utilities
- Transportation
- Fees and licenses
- Commissions
- Office supplies
- Others
Financial Forecasts and Determination of Financial Feasibility
Financial Forecasts
- Monetary transactions that the business is expected to engage in.
- This will indicate the feasibility of the enterprise.
Four critical financial statements:
- Income Statement
- Balance Sheet
- Cash Flow Statement
- Funds Flow Statement
Income Statement
- A financial statement that measures an enterprise’s performance in terms of
revenues and expenses over a certain period.
- Formula: REVENUES – EXPENSES = INCOME or PROFIT (LOSS)

Balance Sheet / Statement of Financial Position

- It is a bit more complicated because of three different things: assets, liabilities, and equities.
- It shows what the company owns and what it owes.
- Formula: ASSETS = LIABILITIES + OWNERS’ EQUITY

Assets: Cash (on hand and in bank)Accounts Receivable, Inventory of goods, equipment and
machinery, facilities, vehicles

Financing the assets or investment are the liabilities and equity.

Liabilities represent the enterprise’s debts to suppliers, banks, government, employees, and other
financiers.

Stockholders’ equity represents the investors’ investments in the stock (shares) of the business.
In general, there are four common types of measures used in ratio analysis: (PLSE)
- Profitability
- Liquidity
- Solvency
- Efficiency
Profitability
- Measures the relationship between revenues and costs.
Liquidity
- Refers to the availability of cash or assets that can be quickly converted to cash to pay off
short-term debts.
- How easily the assets can be converted
- Current financial situation,
Solvency
- Refers to the long-term financial position of a business, if it has enough assets to cover its
long-term liabilities.
- How well the firm sustains itself for a long time.
- Future financial viability
Efficiency
- A measure of how well a company utilizes its resources to make a profit.

Payback Period
- How long will it take for the entrepreneur to get back his investment in an enterprise.
- Formula: Total investment / Annual Net Income after Taxes
Return on Sales (ROS)
- Where the entrepreneur calculates how much profit the enterprise is earning for each peso
sold.
- Formula: Net Profit after Taxes / Sales

Return on Assets (ROA) or Return on Investments (ROI)

- Are measurements used when the entrepreneur wants to know the return on his investments.
- Formula: Net Profit after Taxes / Total assets or investments

CHAPTER 5 - OPPORTUNITY SEIZING (Intindihin lang siguro?) (sorry idk pano summarize)
Opportunity Seizing
- Determine the critical success factors to succeed and be vigilant about the factors that cause
other businesses to fail.
To seize the opportunity, you need to:
- Cultivate curiosity as an entrepreneurial mindset
- Be open-minded
- Make quick decisions
- Pay attention to detail
- Network and associate with others
Position Statement comes after
● Identifying the competing products’ Main Value Proposition (MVP)
- the benefits they deliver to customers
● Customer profiling
- the benefits they desire from the product/s
Concept
- An idealized abstraction of the product or service to be offered to the preferred market of the
entrepreneur.
Conceptualizing the Product or Service Offering
1. Create a product concept
2. Find a market niche
3. Positioning the product in a category where the participants are rather weak
4. A product that would change the way customers think, behave, and buy; thus making the
existing product “obsolete” and “outdated”
Market niche
- Small segments of the market where discriminating customers are searching for special
product/service features and attributes.
Designing, Prototyping, and Testing the Product
- Designing means that the entrepreneur must render the concept and translate it into its
physical and very real dimensions (measurement)
- Prototyping means building the product that will be ready for actual testing by the
entrepreneur.
- Testing the product by the FGD, potential customers for perfection
End results
- Refer to the final outcomes of the business, such as highly satisfied customers, huge sales, or
large profits generated, etc
Important choices to achieve the desired results:
1. Correct technology
2. Choose the right people
3. Design the operating workflow
4. Specify the systems and procedures
5. Design the organizational architecture
Required resources:
- people resources
- physical resources
- money resources
Effective
- producing a result that is wanted
- Doing the right things (Effectiveness)
Efficient
- Capable of producing desired results without wasting materials, time, or energy"
- Doing things the right way (Efficiency)

CHAPTER 6 - MARKET RESEARCH (di na ata need bukas, since until opportunity lang)
Market Research
- Process of collecting, analyzing, and interpreting data about your target market, consumers,
competitors, and industry
Seven Basic Questions
1. Why - Purpose and objective for conducting the market research
2. What - Determines the scopes and limitations of the market research
3. Which - Determines which segment must be studied. The one the entrepreneur is eyeing
4. Who - Identifies who among the members of the selected market will participate in the
market research
5. When - Determines the time and timing of the research. Critical for time constrained markets
6. Where - Relevant location of the market research
7. How - Determines the methodology to be used
 Market Research Methodologies
The more the entrepreneur knows about his relevant market
- the more customers can be properly segmented and reached
- products can be positioned
- brands can be promoted
- prices can be set, and
- locations can be pinpointed.
Entrepreneurs and investors do not want to put resources in unknown markets.
Good market research allows entrepreneurs and investors to make wiser decisions.
Sales Data Mining (example to mostly) (familiarize lang siguro)
- Using the information in next example, the data can logically be arranged chronologically
from 7am to 6pm otherwise known as data array (Table 6.1)
- The data can be further grouped into Intervals of two, three or four hours
- The hotdog customers can be further classified into Male and female customers (can be
sub-classified into small children, 12 years old and below, teenagers, 13 to 19 years, and adults,
20 years and above).
CASE : SELLING HOTDOGS (d ko linagay lahat since you get the idea naman)
A researcher observed and recorded the following data in a store selling hotdogs.
- Boy, aged 10, bought two hotdogs at 2pm.
- Girl, aged 8, bought one hotdog at 4pm.
- Man, aged 26, bought 3 hotdogs at 1pm.
- Couple, a man and wife, aged about 30, bought two hotdogs at 8am.

From the observations, pwede siya maarange into a table

 Three Commonly Used Graphs
Histogram
- Or bar graphs, consisting of a series of rectangles or “bars”.
- Each bar is proportional in width to the range of values within a class and proportional in
height to the number of items falling in a class

Frequency Polygon
- Constructed by marking the frequencies on the vertical axis with a dot corresponding to the
values on the horizontal axis. These dots are then connected with a straight line to form a
polygon.
Pie Chart
- It is a circular graph divided into sections that represent the relative frequencies or
magnitudes of the grouped values.

In order for the data to be more useful to the entrepreneur, a cross-tabulation is highly
recommended. This will explain why some data fall at one end of the distribution while others are at
the opposite end.

Focus Group Discussion

- One of the most common qualitative research tools.
- It is effective in extracting consumer and non-consumer experiences regarding products,
places, or programs.
- This method can also be used for generating initial insights.
- Involves gathering people from similar backgrounds or experiences together to discuss a
specific topic of interest.
- Questions are asked about their perceptions, attitudes, beliefs, opinion or ideas.
This process addresses substantive issues such as:
- consumers’ perceptions, preferences, and behavior concerning a product category;
- new product concepts
- new ideas about older products
- creative concepts and copy materials for ads
- price impressions
- consumer reaction to specific marketing programs
Observation Technique
- One of the best ways of gathering data about customers is by directly observing them, or
another target audience, in their natural setting without having to interact with them.
- Recording the event as it happens may be the best means to capture the information.
- Human Observation and the Mechanical Observation:
● Human Observation - humans observe the events as they happen
● Mechanical observation - mechanical devices are used to record the events for later
analysis.
Survey Research
Survey
- Is the most preferred instrument for in-depth quantitative research.
- Surveys can be conducted via telephone, personal, and mail interview.
- In planning a survey, there are three major concerns to consider
● Sampling technique
● Getting the sample size
● Designing the questionnaire (the most sensitive phase)
No idea if need

(Sa sampling lesson di ko na iinclude)

 Customer Profiling (idk pano isummarize or iayos)
Methods of Customer Profiling
Demographics
1. Age
2. Occupations
3. Income classes
4. Domiciles
5. Social classes/Reference groups
6. Ethnic backgrounds
7. Religious beliefs
Income levels determine the purchasing power of customers. Customers are classified according the
following income classes:
- Class A, the high income class
- Class B, the upper middle income class
- Class C, the middle income class
- Class D, the lower middle income class
- Class E, the low income class
Ethnic backgrounds and religious beliefs affect the cultural beliefs of people such as the food they
eat, how they save and how they spend, and their levels of conservation or progressiveness.

Social classes and reference groups often dictate what is acceptable or unacceptable behavior.

Occupations determine what kinds of goods and services they would buy.

Domiciles or habitat, or areas of residence and environmental surroundings, oftentimes define and
limit the choices available to customers

Psychographics
- Defines the customer’s motivations, perceptions, preferences, and lifestyle.
Motivation goes to the roots of the customer's needs and wants.
● Physiological – based on the physical needs and wants
● Psychological – can be guided by need for achievement and
Perception
- The way a person chooses to receive or interpret information from the external world.
Motivation
- Provides the drive for action, perception defines exactly what that person will do.
Preferences
- Shape customer decisions.
Technographics
- classifies people according to their level of expertise in using a product or service.
For Example:
- Sports beginners might just want basic equipment
- Sports regular might be looking for more sophisticated equipment
- Sports professionals would want the best of the best for competitive purposes.
Market Mapping
- refers to grouping customers and products according to certain market variables like
demographics, psychographics, and technographics to create a market map.

The purpose
- to provide the market analyst a better understanding of the market to paint a clearer picture
of where the different competitors are relative to the different market segments.
- discover market segments that are relatively unserved or underserved
- develop products and services that fulfill the gaps in the marketplace

Continue ko laterr