Chapter 4 Powerpoint
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Transcript of Chapter 4 Powerpoint
![Page 1: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/1.jpg)
Chapter 4 – Chapter 4 – Analyzing Analyzing Markets & Markets &
CompetitionCompetition
![Page 2: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/2.jpg)
ObjectivesObjectives• Understand market segmentation• Understand sales forecasting• What is a good location?• Evaluate the competition
![Page 3: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/3.jpg)
Debbi FieldsDebbi Fields
• Strengths?
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Debbi FieldsDebbi Fields
• Strengths?– Discovered early the “value of work and
satisfactions of doing a good job”– Confidence– Comfortable in the public eye (retrieved
balls for Oakland A’s)– Learned customer service (A’s giving
autographs)
![Page 5: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/5.jpg)
Debbi FieldsDebbi Fields• Weaknesses starting out?
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Debbi FieldsDebbi Fields• Weaknesses starting out?
– No college education– Very young when she started– Not taken seriously
![Page 7: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/7.jpg)
Debbi FieldsDebbi Fields• Results?
– Business expanded rapidly– Husband quit corporate job to help– Business expanded too rapidly– Debbi switched from day to day details
to plotting the big picture
![Page 8: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/8.jpg)
What is the market for an What is the market for an enterprise?enterprise?
• The groups of people, businesses, or organizations seeking the types of products or services you sell, and willing and able to pay your price
![Page 9: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/9.jpg)
Consumer & Business UsersConsumer & Business Users• Consumers – people who buy
products and services for personal or family use
• Business users – people who buy products and services for their company or institutions
![Page 10: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/10.jpg)
Market SegmentsMarket Segments• Groups of people with similar needs
and characteristics
![Page 11: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/11.jpg)
Target MarketTarget Market• The particular group to whom you
wish to sell your products or services
![Page 12: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/12.jpg)
Sales ForecastsSales Forecasts• What is a sales forecast?• Why would a small business do a
sales forecast?• How is a sales forecast prepared?
![Page 13: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/13.jpg)
How is a sales forecast How is a sales forecast prepared?prepared?
1. Estimate market potential for all similar businesses in your area– Sources?
• Chamber of Commerce• Trade association• Banker• Accountant• Suppliers• Similar entrepreneurs from other areas (not
competitors)
![Page 14: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/14.jpg)
How is a sales forecast How is a sales forecast prepared?prepared?
2. Find out how many competitors you have.
3. Estimate your share of the total market.– Will you get an equal share with all
other local competitors?
![Page 15: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/15.jpg)
Location, location, locationLocation, location, location1. Choose a city
• Near where you want to live• Services (fire, police)• Public transportation• Public utilities• Quality of schools (affects workforce
potential)
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Location, location, locationLocation, location, location1. Choose a city
• Sufficient population• Competition• Level of employment• Legal considerations
• Tax advantages• Zoning restrictions• Unusually high taxes
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Location, location, locationLocation, location, location2. Choose an area within the community
• Near public transportation?• High traffic area?
3. Choose a specific location• Adequate parking• Well-maintained building & area• Enough traffic flow?• Restrictions on the property?• Cost?
![Page 18: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/18.jpg)
CompetitionCompetition• Look at other small businesses, mail
order, large businesses, Internet, etc.• What is the right number of
businesses per resident for different types of businesses? (see p. 94)
![Page 19: Chapter 4 Powerpoint](https://reader035.fdocuments.in/reader035/viewer/2022070315/5554e18ab4c9051b6e8b543b/html5/thumbnails/19.jpg)
CompetitionCompetition• Strengths & Weaknesses of
competitors:– Collect information– Plan your strengths