Marketing Concepts and Start-Up Strategies

A group of people with different skills working together to achieve a common business goal.

Having different skills and expertise within a team, like technical, business, and leadership.

Open communication, clear roles, and agreeing on how decisions are made.

Everyone on the team is working towards the same goals and objectives.

Respecting each team member and their contributions, even if they are different.

Failing to objectively assess the feasibility of a business idea due to emotional attachment.

Not understanding customer needs, market trends, or competitors.

Seeking external opinions and using data to make informed decisions about your business.

A thorough evaluation of a new venture considering technical, market, financial, organizational, and competitive aspects.

Evaluates if the product can be developed with existing technology and resources.

Determines if there's a market for the product or service and if there are enough potential customers.

Assesses if the venture can be funded and generate enough income to be sustainable.

A method focusing on iterative development and rapid validation of product ideas.

A basic version of a product used to gather customer feedback and validate assumptions before full development.

The planning stage before launching a business, involving idea generation, feasibility analysis, and securing funding.

The initial stage of the business where the product or service is launched, customers are acquired, and operations are established.

The legal doctrine that allows limited use of copyrighted material without permission for purposes like education, criticism, commentary, news reporting, teaching, scholarship, or research.

Factors considered when determining if a use of copyrighted material qualifies as fair use. These factors include the purpose and character of the use, the nature of the work, the amount and substantiality of the portion used, and the effect of the use on the market for the copyrighted work.

Goods or services offered to fulfill customer demands. Includes variety, quality, design, features, brand name, packaging, services, and warranties.

The cost to the consumer influencing demand and profitability. Factors include pricing strategies, discounts, payment terms, and credit options.

Accessibility of the product for the target market. Components include distribution channels, store locations, inventory management, and logistics.

Methods to communicate with and persuade consumers about your product. This may include advertising, public relations, sales promotions, and more.

The difficulty in maintaining IP rights across different countries due to varying laws and enforcement.

The easy duplication and unauthorized distribution of copyrighted material made possible by digital technologies.

This research method focuses on understanding motivations and gathering insights through things like interviews and focus groups.

This research method uses measurable data to analyze trends and patterns, often relying on surveys and analytics.

Promoting products, services, or content through social media platforms to build brand awareness, engage users, and drive traffic or conversions.

Marketing tailored for mobile devices, using methods like mobile-optimized websites, SMS, apps, push notifications, and location-based strategies.

A marketing philosophy that focuses on producing efficient and affordable products.

Sharing valuable content to build trust and engagement with customers.

Partnering with influencers to promote products or services and reach a wider audience.

Running paid advertisements across various platforms to drive traffic and generate leads.

A marketing approach focused on creating high-quality, feature-rich products.

This marketing concept prioritizes driving immediate sales through aggressive promotions.

This marketing strategy emphasizes understanding and meeting customer needs better than competitors to build customer loyalty.

This approach considers the balance between customer needs, profits, and the well-being of society.

Dividing the market into groups based on shared characteristics. This helps businesses target their marketing efforts more effectively.

Groupings based on individuals' age, gender, income, education, occupation, and marital status.

Dividing the market based on geographic location, climate, region, and urban/rural areas.

Grouping customers based on their lifestyle, values, interests, and personality traits.

Collaborative product development involving customers, allowing them to contribute ideas and influence design.

Tailoring products or services to individual preferences, creating personalized experiences.

Offering a wide range of choices to empower customers, giving them more control over their purchases.

Engaging customers in two-way communication, building relationships and fostering loyalty.

A pricing strategy where a product is initially offered at a low price to gain market share quickly.

A pricing strategy used for innovative products where a high price is set initially to recover development costs and capture early adopters.

A pricing strategy where prices are set based on competitor pricing, aiming to maintain competitiveness within the market.

Gathering information about customer needs, preferences, and behaviors to guide product development, marketing, and business strategy.