After reading chapter 8 https://openstax.org/books/entrepreneurship/pages/8-introduction
on Entrepreneurial Marketing & Sales and watching the Interview video
https://m.youtube.com/watch?v=ls67yDiMhbw
Answer the questions below.
Sales is an important part of marketing, especially for entrepreneurs and small business owners. What connections can you make between Ariel’s approach to sales and what you read about sales in the textbook?
What marketing techniques has Ariel successfully implemented as a small business owner? Be specific and make connections to the textbook.
students selected a new business idea ( home beauty kid)
for their projects. Using the same business idea that you chose, complete the following tasks related to the marketing mix:
Product – Define what is unique about the product or service that you sell and why customers would choose your brand over the competition. Sell me on the benefits of your company. This is sometimes referred to as a “value proposition” or “point of differentiation.” If you are starting a daycare, explain why I’d send my kids to yours and not the one up the road. If you are starting a delivery service, tell me why I should use your platform and not another app.
Promotion – Using the Promotion Types handout as a resource, come up with a unique promotional idea to market your new business idea. Be specific and explain the promotion; what it says, where it is placed, etc. If you choose advertising, explain both the medium and the message. If you choose social media, explain how you’ll get your audience to engage with your content. Etc.
Price – Explain how much your products/services will cost and why it’s a value to your customers. This should include information about which pricing method you will go with (premium pricing, penetration pricing, etc.).
Place – Identify what channels and/or locations where your customers will be able to purchase your products/services. Will you sell directly or indirectly to your customer? If online, explain where and how customers will purchase your products/services and how you’ll distribute them to your customers. If in-person, explain where and why you chose that location.
