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Survey of Entrepreneurship
Class 12
Strategic Planning
King Saud University -- Kent State University
Partners in Entrepreneurship
OBJECTIVES
12_Objectives
• 1. Present results of internet-based business research.• 2. Understand the principles of Marketing; explain
characteristics of internet-based businesses.
INTERACTIVITIES
12_Interactivities
1. Students should present on the internet businesses researched.2. The instructor, depending on the time involved, may speak after the presentations.
The Market Planning Process
• Market planning is the process of
– Identifying your customers– Defining their needs, wants and expectations– Developing your strategies and tactics for
satisfying them.
Pricing
• Pricing is a balancing act
– You must support your costs– While meeting your customer’s limits– And giving you your desired profit.
How Do I Set a Price
• Breakeven Analysis plus desired gross profit
Breakeven Graphs
Pricing Strategies
• Markup Pricing• Penetration Pricing• Price Skimming
Pricing Strategies Continued
• Follow the Leader• Price Lining• Variable Pricing
Product (or Service)
• Bundle of attributes that a customer perceives• Package of value from the various features,
benefits, and intangible rewards
Types of Products / Services
• Convenience goods/services• Shopping goods/services• Specialty goods/services
Product/Service Planning Strategy
• Product Mix and Positioning• Product life Cycle• Product Branding
Promotion
• The Ultimate Goal: increase sales• Purposes of Promotions:
– Communicate information– Position products/services– Add value– Control sales volume
Promotional Mix of Tools
• Advertising• Personal Selling• Sales Promotions• Publicity
Place / Distribution
• Channels of Traditional Distribution and Intermediaries
• Warehousing and Transportation Operations
Location Planning
• Importance of Location• Key Factors in Location Decisions• Challenges in Designing and Equipping the
Physical Facilities
Internet-Based Businesses
• Perhaps the hottest and fastest growing area of entrepreneurial activities
Ascent of Internet-Based Businesses
• E-intermediaries are internet-based members of a channel of distribution
• These channel members perform one or both of the following functions:– Collect information about sellers and present it to
consumers– Help deliver internet products to buyers.
Types of E-Intermediaries
• Syndicated Sellers• Shopping Agents• Electronic Retailing
Electronic Retailing
• Electronic Catalogs• Electronic Storefronts• Cybermalls• Interactive and Video Marketing
E- Retailing
• Cybermalls are collections of virtual storefronts with numerous offerings
• Interactive and video marketing allow viewers to conveniently shop online.
HOMEWORK
12_Homework
1. Read Mariotti text: Chapter 14: “Franchising, Licensing, and Harvesting”2. Read and consider handout 12.1 Some Preliminary Questions About the Business to Help Decide on a Legal Structure.
HANDOUTS
12_Handouts
1. 12-1_Some Preliminary Questions About the Business to Help Decide on a Legal Structure.
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QuestionsQuestions
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