Identify the concepts, strategies, and systems needed to implement and obtain support for an entrepreneurial entity.
Utilize strategies to determine feasibility of ideas.
Examples: test marketing, prototyping, marketing research
Gather and share information on the major reasons for business failure, citing examples of actual cases.
Utilize the marketing functions to assess the competitive advantage of a business.
Identify the elements needed in a formal written business plan, including an executive summary; introduction; analysis of strengths, weaknesses, opportunities, and threats (SWOT analysis); planned operation of the proposed business or service; timelines; planned financing; and requests for financing.
Gather and share information on the concepts, processes, systems, strategies, and tools needed to create a successful business venture.
Identify goods and/or services to be sold in a proposed business.
Discuss and explain the types of risks that businesses encounter.
Identify the market segment for a proposed business.
Formulate a marketing mix designed to reach a specific market segment.
Explain the processes and strategies used in selecting a business location whether brick-and-mortar, e-business, or both.
Discuss advantages and disadvantages of types of business locations.
Explain the steps used in conducting a location analysis.
Identify current trends and other criteria for site location.
Justify the rationale for selecting a particular site.
Gather, evaluate, and share information on the processes, strategies, and systems needed to guide the financial organization of an entrepreneurial entity.
Discuss, compare, and contrast sources of capital used by entrepreneurs.
Identify fixed and variable costs and tax liability for startup and maintenance of a business.
Explain the terminology used in financial reports.
Create a tentative budget for a proposed business and explain the purpose of each component, including income statement, balance sheet, and cash flow statement.
Gather and share information on legal issues affecting businesses.
Identify governmental agencies and regulations affecting businesses.
Define and utilize terms used in business law.
Examples: copyright, trademark, patent, logo, license, permit
List licenses needed by a small business.
Obtain and share information on product strategies.
Describe how technology is used in the product/service management function.
Describe strategies used by marketers to position products or services.
Describe techniques used by businesses to position corporate brands.
Explain the importance of planning purchases.
Identify and explain place strategies.
Describe how technology is used in the channel management function.
Describe ethical considerations in channel management.
Coordinate channel management with other marketing activities.
Compare the costs and benefits associated with various inventory management systems.
Identify and explain pricing strategies.
