4TH GRADING ENTREP

ENTREPREUNRSHIP 5. Operational Plan – describes the goals of

an internal organization, working group or
I plan to get my masters degree after graduating in department
college while working in a civil engineering firm to
maximize my time. After finishing my masters I Factors to Consider of a New Entrepreneur
would like to venture on the field of trading stocks 1. Know your product/service
or build a small start-up business. Lastly, to travel 2. Analyze the market potentials
Japan and maybe live and work there. 3. Determine the marketing strategy
4. Know the competitors
BUSINESS PLAN
5. Do not set on your laurels
 ―A formal statement of a set of business Basic Phases of Business Plan
goals, the reasons why they are believe
attainable, and the plan for reaching those 1. Marketing and Distribution Strategy
goals.‖ - deals with product demand analysis
- show competitive advantages of
Why do you think it is essential first to have plans product over existing product/service
before doing anything? - designing the marketing program of
the enterprise
2. Production and Technology Study
- refers to machineries and other
FOCUS OF A BUSINESS PLAN
technical aspects in making the
EXTERNALLY INTERNALLY product
FOCUSED BUSINESS FOCUSED BUSINESS 3. Financial Management
PLAN PLAN - capital investment and sources of
Target goals that are Target intermediate funding the operation of the
important to external goals required to reach business
stakeholders the external goals.
GENERAL FORMAT/ CONTENT OF A
They typically have They may cover the BUSINESS PLAN
detailed information development of a new
about the organization product. I. INTRODUCTION
or teak attempting to The introduction contains the rationale and
reach the goals the background of the study undertaken. It
should include the importance of the project
and the proponent’s background and their
CATEGORIES OF BUSINESS PLAN
desire to establish the business.
1. Business Plan for Profit – focused on
financial goals 1st paragraph- the business itself
2. Marketing Plan – targets change in 2nd-tell them the background why nga gin patindog
perception and branding as its primary ang business
goals 3rd-background of the business the market potential
3. Project Plan – describes the goals of a what you can offer
particular project 4th- how in demand the business is
4. Business Plan for Non-profit and 5th-
Government Agency – tends to focus on
service goals
II. PROJECT SUMMARY
—narrates project conceptualization, details
events that led to the study
 4TH GRADING ENTREP
—Presents project proponents, proposed C. COMPETITIVE ANALYSIS
name of business, type of business 1. SELLING PRICE – this refers to
proposal/project, and its location the selling price of the product.
A. Name of the Firm 2. COMPETITIONS – it refers to the
B. Business Location competing product in the markets as
C. Brief Description of Business to its quality and market
1) Brief history or how the business acceptability.
was organized 3. CHANNEL OF PRODUCT
2) Highlights of the findings in every DISTRIBUTION – this refers to the
phase of the business study means of reaching the target market
or it is the method to penetrate a
III. MANAGEMENT AND PERSONAL particular market segment.
COMPONENT
 describes the plan to grow or scale D. PROGRAM ANALYSIS OF
the business MARKETING STRATEGY
 often involves hiring staff and staff 1. Geographical Segmentation
often represent the single largest Strategy- refers to the place of
ongoing expense that a company target market and the approaches to
will have penetrate the market niche.
 important to plan exactly who will be 2. Psychographic Strategy- refers to
hired, how much they will be paid educational background and the
and when staff will join the team lifestyle of target market.
A. Job Description 3. Demographic Segmentation
- gives details to understand the job Strategy- refers to the target
function of perspective market as sex, age, income and the
B. Organizational Chart other personal factors of the target
- provide employees with positions of market.
important personnel 4. Pricing Strategy- this has
something to do with the price index
IV. MARKETING STUDIES of any pricing strategy that will
attract customers.
A. MARKET PROFILE 5. Promotion and Advertising-
– refers to the market segmentation for media network, personal selling,
the distribution of the product or billboard or any marketing strategy.
service. This study must cover the
possible users of the product and how V. PRODUCTION
to reach the particular market This refers to the manufacturing aspects of
segments. This must also present the the product. It includes the details of what
target customers. the product is and how they will be
produced/raised using proposed location,
B. DEMAND ANALYSIS production size (capacity) and lay-out.
1. Projected Consumption in the first
year of operation, then five years VI. FINANCIAL FEASIBILITY
and ten years operation. It enables the entrepreneur to know how
2. Major segment users of the product much capitalization will be needed to
and their location. finance the project and who will be the
project’s financiers.
 4TH GRADING ENTREP
VII. PROJECT IMPLEMENTATION AND
TIMETABLE
These include the details of all activities to
be considered during the project’s pre-
investment and pre-operating phase and
also the timetable of each of these
activities.

TYPES OF ENTREPRENEURS

1. Innovative Entrepreneurs – can think of

new ideas for businesses. Ability to think
newer, better and more economical ideas of
business organization and management.
2. Imitating Entrepreneurs – follow the path
envisioned by innovative entrepreneurs.
3. Fabian Entrepreneurs – skeptical about
changes to be made in an organization;
follows traditional rules
4. Drone Entrepreneurs – show no inclination
in gaining market leadership; don’t follow
trends. Satisfied with the existing mode and
speed of business activity and show no
inclination in gaining market leadership.
5. Social Entrepreneurs – start businesses
for the purpose of the greater good; to help
society. Drive social innovation and
transformation in various fields including
education, health, human rights,
environment, and enterprise development.
 4TH GRADING ENTREP
MARKETING MIX SEVEN P FORMULA

 use to continually evaluate and re-evaluate

What is your name?
the business activities.
 Remember that your name is your own
brand name…
The 7pS IN BUSINESS OPPORTUNITY
1. PRODUCT
Brand name
2. PRICE
3. PROMOTION
Why brand name is significant in a business?
4. PLACE
5. PACKAGING
6. POSITIONING
DEVELOPING A BRAND NAME
7. PEOPLE
For a new business, creating and effectively
marketing a new brand name is one of the most
PRODUCT
challenging aspects of starting a business.
To begin with, develop the habit of looking
Choose a wrong name and customers have
at your product as though you were an outside
no idea of what your business stands for or what is
marketing consultant brought in to help your
does.
company decide whether or not it's in the right
Choose the right name and customers
business at this time. Ask critical questions such as,
immediately identify with your value proposition.
"Is your current product or service, or mix of
products and services, appropriate and suitable for
HOW TO DEVELOP A BRAND
the market and the customers of today?"
1. Decide what is going to be brand.
Whenever you're having difficulty selling as
2. Do the research.
much of your products or services as you'd like,
3. Position the product or service.
you need to develop the habit of assessing your
4. Write the brand definition.
business honestly and asking, "Are these the right
5. Develop the name, logo and tagline.
products or services for our customers today?"
6. Launch the brand.
7. Manage, leverage, and protect the brand.
PRICES
8. Realign the brand to keep it current.
Develop the habit of continually examining
and reexamining the prices of the products and
MARKETING STRATEGY
services you sell to make sure they're still
 the foundation of a marketing plan.
appropriate to the realities of the current market.
Sometimes you need to lower your prices. At other
7 QUESTIONS TO ASK IN FORMULATING
times, it may be appropriate to raise your prices.
MARKETING STRATEGIES
Many companies have found that the profitability of
1. Who is producing similar products?
certain products or services doesn't justify the
2. Where are the competitors located?
amount of effort and resources that go into
3. What is the quality and price of their
producing them. By raising their prices, they may
products?
lose a percentage of their customers, but the
4. What can I do to make a new product that
remaining percentage generates a profit on every
is better than those of the competitors?
sale. Could this be appropriate for you?
5. Why would customers or consumers want to
change to a new product?
PROMOTION
6. What offers or incentives do competitors
Promotion includes all the ways you tell
give to retailers?
your customers about your products or services
7. What are competitors like do if a new
and how you then market and sell to them.
product is introduced?
 4TH GRADING ENTREP
Small changes in the way you promote and company? What positioning do you have in your
sell your products can lead to dramatic changes in market, in terms of the specific words people use
your results. Even small changes in your when they describe you and your offerings to
advertising can lead immediately to higher sales. others?
Experienced copywriters can often increase the
response rate from advertising by 500 percent by PEOPLE
simply changing the headline on an advertisement. Develop the habit of thinking in terms of the
people inside and outside of your business who are
PLACE responsible for every element of your
Develop the habit of reviewing and sales, marketing strategies, and activities.
reflecting upon the exact location where the It's amazing how many entrepreneurs and
customer meets the salesperson. Sometimes a businesspeople will work extremely hard to think
change in place can lead to a rapid increase in through every element of the marketing strategy
sales. and the marketing mix, and then pay little attention
You can sell your product in many different to the fact that every single decision and policy has
places. Some companies use direct selling, sending to be carried out by a specific person, in a specific
their salespeople out to personally meet and talk way. Your ability to select, recruit, hire and retain
with the prospect. Some sell by telemarketing. the proper people, with the skills and abilities to do
Some sell through catalogs or mail order. Some sell the job you need to have done, is more important
at trade shows or in retail establishments. Some than everything else put together.
sell in joint ventures with other similar products or
services. Some companies use manufacturers'
representatives or distributors. Many companies
use a combination of one or more of these
methods.

PACKAGING
Develop the habit of standing back and
looking at every visual element in the packaging of
your product or service through the eyes of a
critical prospect. Remember, people form their first
impression about you within the first 30 seconds of
seeing you or some element of your company.
Small improvements in the packaging or external
appearance of your product or service can often
lead to completely different reactions from your
customers.
With regard to the packaging of your
company, your product or service, you should think
in terms of everything that the customer sees from
the first moment of contact with your company all
the way through the purchasing process.

POSITIONING
You should develop the habit of thinking
continually about how you are positioned in the
hearts and minds of your customers. How do
people think and talk about you when you're not
present? How do people think and talk about your