YouThrive Take-Home Assignments (June 2024)

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IDENTIFY INNOVATIVE BUSINESS OPPORTUNITIES

Briefly describe the innovative business you have identified and wish to pursue/are pursuing*

What problem is your business solving?*

What environmental factors make it a viable solution?

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What is your business model?*

What is your financial model?*

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Briefly describe the innovative business you have identified and wish to pursue/are pursuing*

To enhance brand visibility and ensure that brand values are properly positioned for patronage

our customers are brand owners, that is various companies, products and services, and even the
government who want to enhance their visibility via billboards, social media, websites, or print media.
We will leverage both website, social media, and billboards to give our client brands needed visibility.

we fixed fee is agreed upon for the entire project. This ensures clear expectations on both sides.

our value proposition is dependent on quality products and services, impeccable customer service, and
recurrent customer relationships.

our key activities are marketing and advertising in partnership with marketing agencies, advertising
agencies, and printing and signage companies.

TO MANAGE STRESS AS A BUSINESS LEADER:

Being emotionally intelligent, effective time management, collaboration, and delegating can help me
manage stress as a business leader.

PROJECTED REVENUE:

Billboard advertising: Monthly - 2,5000,000

Digital Advertising: Monthly - 3,000,000

Signage manufacturing: Monthly - 1,000,000

Consultancy: MONTHLY - 500,000

TOTAL REVENUE FORECAST MONTHLY IN NAIRA: 7,000,000

EXPENSES PROJECTION:

Both direct, indirect, and variable costs will stand on 2,500,000

What can you do to increase your self-awareness as a leader?

Keep a daily journal of myself for reflection, and be emotionally intelligent to maintain emotional
balance appropriately and also respond to others appropriately. Reading good books also.
advertising, marketing; signage manufacturing, and digital marketing.

we also have a plan to set up an e-commerce site in the future along with an APP

email marketing, content management and follow-up phone calls to customers

When pricing your products or services, you have a few different options. You can use value-based,
competition-based, cost-plus, and dynamic pricing. Each of these strategies has its benefits and
drawbacks that you need to consider before making a decision. This blog post will discuss each of the
four types of pricing strategies in detail and help you decide which one is right for your business.

1. Value-based pricing

One of the most common pricing strategies is value-based pricing. With this strategy, you price your
products or services based on their perceived value to your customers. This means that you consider
things like the quality of your product, the customer service you provide, and the reputation of your
business when setting your prices. In this case, you can use pricing software for retail to determine the
right price for your products.

The main benefit of value-based pricing is that it allows you to charge more for your products or services
if they offer more value to your customers. This can help you increase your profits and grow your
business. It can also help you attract high-quality customers willing to pay more for a product they
perceive as high quality.

However, one of the drawbacks of this pricing strategy is that it can be challenging to determine the right
price for your products or services. You need to ensure you are not overcharging or undercharging your
customers.

Charging too much, and you end up losing customers to your competitors. Charging too little, and you
may be unable to cover your costs and make a profit. This means you must understand your customer
base well and the value they perceive in your products or services.

2. Competition-based pricing

Another common pricing strategy is competition-based pricing. This means setting your prices based on
your competitors’ prices for their products or services. For instance, if you sell products in a highly
competitive market, you may need to lower your prices to attract customers.

This can help grow your business by winning market share from your competitors. Hence, it can help you
to stay competitive in your industry, and it can also help you to attract price-sensitive customers.

However, it can also lead to a race to the bottom where everyone is trying to undercut each other, and
no one is making any money. This can be a problem if you sell products with low margins. In addition, it
can be challenging to keep track of your competitor’s prices, significantly if they are constantly changing.
Most of all, you may not be able to charge as much for your products or services as you would like,
which can impact your profits. All of these can result in a competitive disadvantage.

3. Cost-plus pricing

Another option is cost-plus pricing. With this strategy, you price your products or services based on the
costs you incur to produce them, plus a markup. For example, if it costs you $50 to create a product, you
may add a markup of 50% to sell it for $75.

Most entrepreneurs use this pricing strategy when they are starting because it is simple to calculate. You
need to know your costs and then add a reasonable profit margin. This can help you to be more
profitable and grow your business.

However, one of the drawbacks of cost-plus pricing is that it does not consider the perceived value of
your products or services. This means you may be undercharging your customers and leaving money on
the table.

Also, your prices may be too high for some customers, which can impact your sales. This pricing strategy
ensures you still charge a fair fee for your products or services.

4. Dynamic pricing

Finally, dynamic pricing is based on factors, including the time of day, the demand for your products or
services, and the competition. The time of day is a common factor used in dynamic pricing. For example,
you may charge more for your products or services during peak times, such as weekends or holidays.

This can help you to maximize your profits and take advantage of periods when there is high demand.
Another factor that is often used in dynamic pricing is competitive. With this strategy, you may lower
your prices when there is more competition in the market.

The benefits of this strategy are that it can help you to maximize your profits, and it can also help you to
attract more customers. This is because customers are more likely to purchase your products or services
when they are available at a lower price.

However, one of the drawbacks of dynamic pricing is that it can be challenging to implement and
manage. This is because you must constantly monitor the market and adjust your prices accordingly. In
addition, customers may not like this pricing strategy as it can be perceived as unfair.

Final Thoughts

Which of these pricing strategies is right for your business? It depends on many factors, including your
industry, target market, and overall goals. However, by considering each of the four options, you can
make an informed decision and choose the pricing strategy that will work best for your business.

The Marketing Distribution Strategy: What It Is and Why You Need It

If you’re a business owner, then you know that marketing is essential to your success. But what many
business owners don’t realize is that content distribution is just as important as content creation when it
comes to marketing. Without a good distribution strategy, your content will never reach its full potential.
In this blog post, we’ll define content distribution in marketing and discuss why it’s so important. We’ll
also look at different distribution channels and help you decide which ones are best for your company.
Finally, we’ll explain why distributing your content is key to achieving your marketing goals.

What Is a Distribution Strategy?

Essentially, a distribution strategy is the process of getting your content in front of the right people. This
can be done through different distribution channels, including social media, email marketing, paid
advertising, and PR. There are many different distribution channels to choose from, but not all of them
will be right for your company. It’s important to carefully consider your options and select the channels
that will best help you reach your target audience.

Content Distribution in Eight Easy Steps

Is your content going nowhere? The best content is worthless without an audience. You don't have to be
a Fortune 500 company to implement a distribution strategy for your content. Find out how to get your
distribution started by downloading our checklist.

Email*

 Country*

United StatesCanadaAfghanistanAlbaniaAlgeriaAmerican SamoaAndorraAngolaAntigua and

BarbudaArgentinaArmeniaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiu
mBelizeBeninBermudaBhutanBoliviaBosnia and HerzegovinaBotswanaBrazilBruneiBulgariaBurkina
FasoBurundiCambodiaCameroonCape VerdeCayman IslandsCentral African
RepublicChadChileChinaColombiaComorosCongo, Democratic Republic of theCongo, Republic of
theCosta RicaCôte d'IvoireCroatiaCubaCuraçaoCyprusCzech
RepublicDenmarkDjiboutiDominicaDominican RepublicEast TimorEcuadorEgyptEl SalvadorEquatorial
GuineaEritreaEstoniaEthiopiaFaroe IslandsFijiFinlandFranceFrench
PolynesiaGabonGambiaGeorgiaGermanyGhanaGreeceGreenlandGrenadaGuamGuatemalaGuineaGuinea
-BissauGuyanaHaitiHondurasHong
KongHungaryIcelandIndiaIndonesiaIranIraqIrelandIsraelItalyJamaicaJapanJordanKazakhstanKenyaKiribati
North KoreaSouth
KoreaKosovoKuwaitKyrgyzstanLaosLatviaLebanonLesothoLiberiaLibyaLiechtensteinLithuaniaLuxembourg
MacedoniaMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshall
IslandsMauritaniaMauritiusMexicoMicronesiaMoldovaMonacoMongoliaMontenegroMoroccoMozambiq
ueMyanmarNamibiaNauruNepalNetherlandsNew ZealandNicaraguaNigerNigeriaNorthern Mariana
IslandsNorwayOmanPakistanPalauPalestine, State ofPanamaPapua New
GuineaParaguayPeruPhilippinesPolandPortugalPuerto RicoQatarRomaniaRussiaRwandaSaint Kitts and
NevisSaint LuciaSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi
ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint MaartenSlovakiaSloveniaSolomon
IslandsSomaliaSouth AfricaSpainSri LankaSudanSudan,
SouthSurinameSwazilandSwedenSwitzerlandSyriaTaiwanTajikistanTanzaniaThailandTogoTongaTrinidad
and TobagoTunisiaTurkeyTurkmenistanTuvaluUgandaUkraineUnited Arab EmiratesUnited
KingdomUruguayUzbekistanVanuatuVatican CityVenezuelaVietnamVirgin Islands, BritishVirgin Islands,
U.S.YemenZambiaZimbabwe

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The Benefits of Distribution

Why is distribution so important? There are several reasons why it’s critical to distribute your content
effectively. First, distributing your content helps you reach more people. By sharing your content through
different channels, you can reach a larger audience than you would be able to reach with just one
channel. Additionally, distributing your content helps you build relationships with potential customers.
When people see your content and connect with it, they’re more likely to do business with you in the
future. Finally, distributing your content can help you achieve your marketing goals. Whether you’re
trying to increase brand awareness, drive traffic to your website, or generate leads, distributing your
content can help you achieve these results.

Distribution Channels

So how do you distribute your content? There are many different ways to do it, and the right approach
will vary depending on your company and its target audience. Some of the most popular distribution
channels include social media, email marketing, paid advertising, and PR. Let’s take a closer look at each
of these channels.

Social Media

Social media is one of the most popular distribution channels out there. It’s a great way to reach a large
audience quickly and easily. Additionally, social media platforms allow you to build relationships with
potential customers and boost brand awareness. If you’re not already using social media, it’s a channel
worth exploring.

Email Marketing

Email marketing is another great way to distribute your content. It’s an effective way to reach people
who are interested in your product or service, and it allows you to build relationships with customers
over time. It might be worth considering email marketing to reach targeted customers if you’re not
already using it.

Paid Advertising

Paid advertising is a great way to reach people who are already interested in what you have to offer. It
allows you to target your audience with precision and get your content in front of the right people
quickly and easily. Paid advertising is another very useful distribution channel worth looking into.
SEE ALSO: Paid Media: Content Marketing’s Answer to Faster Learning (and Results)

PR

PR is a great way to get your content in front of a large audience. When done correctly, PR can help you
achieve brand awareness and generate leads. PR is the last of the four primary channels for effective
content distribution.

Choosing the Right Distribution Channel

Now that you know a little bit more about distribution in marketing, it’s time to start thinking about
which channels are right for you. Consider your company’s goals and target audience, and then select
the channels that will help you reach them most effectively. With a good distribution strategy in place,
you can achieve great results and reach your marketing goals.