Topic:
Business Startups
Name:
Nayan Patil
MMS (First Year)
Jankidevi Bajaj Institute of Management Studies.
Introduction:
Your business plan is the foundation of your business. Conducting in-depth market research on your field and the demographics of your potential clientele is an important part of crafting a business plan. This involves running surveys, holding focus groups, and researching SEO and public data.for start up entrepreneur always need to have market knowledge about the Product the demand for that product in market and how it will maintain the position how it will diffrent from other and how it will create image in consumers mind. from the basic knowledge to every detail entrepreneur need to know about market and product than where the money comes from funding and the promotion in which platform he have to advertise his products. Now day’s digital marketing is growing faster every entrepreneur should have there business site on digital marketing (online mode of marketing) . entrepreneur always have to know about their competitors and the competition by using marketing strategies entrepreneur always need to think about how he will be on top in market by maintaining their brand image. For maintene position quality and price are the important element in business.
Objective:
To study underlying phenomena of Business startups
1.Entrepreneurship
Entrepreneurship has been proven in various researches in the world to help improve the welfare of society by creating jobs. Many universities in the world have adopted entrepreneurship in their curriculum designs in the form of entrepreneurship education. Besides, the technology fit task variable is also important in increasing student intention. Therefore, research on entrepreneurship intention (EI) and the factors that influence it among students is very relevant. This study aims to fill the knowledge gap in the effect of task technology fit (TTF) and entrepreneurship education (EE) on entrepreneurship intention (EI) by using the theory of planned behaviour (TPB) model. The research sample was 213 undergraduate students at one of the private universities in Yogyakarta selected by the Slovin method. Data were collected through a questionnaire shared with the student by MS Form. Regression analysis tools were used to test the research hypothesis. These results prove that H1, H3a, and H3b have a positive effect on EI with different levels of significance. Meanwhile, H2 has a negative influence on EI. This study has contributed to filling the knowledge gap that TTF and EE can be integrated into the TPB model
2.Funding
People may finance entrepreneurs, often family members. the funding of family-related entrepreneurs and especially the financing of non-family-related entrepreneurs. However, a culture supportive of family businesses may alleviate the declining funding of family-related entrepreneurs, predictably, while a secular–rational culture supportive of non-family businesses may alleviate the declining financing of non-family-related entrepreneurs. Similar to a field experiment, a globally representative survey was conducted before and after the disruption in 42 countries, interviewing 266,983 adults either before or after the disrupt. However, culture provides resilience, in that the declining funding of family-related entrepreneurs was alleviated where the culture supports family businesses, and the declining funding of non-family-related entrepreneurs was alleviated in societies with a secular–rational culture.
3.Market knowledge
Organizations use multiple strategies to increase the number and impact of eco-innovations as a path to achieve competitive advantage. In this article, we study the role of open innovation activities, specifically related to market sources, as a driver of eco-innovation performance. While studies have looked at the relationship between these two emergent innovation phenomena from a broad perspective, we explore whether specific market knowledge sources—clients, suppliers, competitors, and consultants—and their combined use—affect eco-innovation performance. We rely on insights from theories of open innovation and sustainable and environmental innovation to build a theoretical framework about the determinants of eco-innovation performance from a market -driven open innovation perspective. Our sample consists of 3047 firm-year observations obtained from three consecutive panels of the Chilean Innovation Survey (2009–2014). We found that clients, suppliers, competitors, and consultants as knowledge sources positively influence eco-innovation performance in firms. In addition, our results suggest that a combination of client sourcing with supplier and consultant sources of knowledge positively affect eco-innovation performance. We discuss the implications of our findings for open innovation activities on eco-innovation and suggest ideas for future research.
4. Product knowledge and innovation
Market knowledge is recognised as an important predictor of new product performance, which existing studies have proven. However, a missing link in this relationship is creativity and specifically, as a natural process in product innovation . This study aims to examine a model that includes two mediating mechanisms between market knowledge scope and two new product outcomes, respectively: a new product competitive advantage and its commercial success. In both cases two mediators are used that represent dimensions of creativity —i.e. a product meaningfulness and novelty. The model was tested on a sample of 374 Polish medium-high- and high-technology companies using structural equation modelling. The results indicated that market knowledge is transferred to both new product outcomes through new product creativity.
5.Price of product/Target market
The competition between retail companies is very tight, so retailer companies should evaluate its performance continuously in order to survive.. The selling price of product is one of the essential attributes and gets attention of many consumers where it’s used to evaluate the performance of the industry. This research aimed to determine optimal selling price of the product with considering cost factors, namely purchase price of the product from supplier, holding costs, and transportation costs. Many companies target those consumers they have the greatest chance of satisfying, leading to greater profit potential for the firm. The sophistication of target marketing helps marketers achieve efficiency and effectiveness. However, targeting may be an ineffective strategy when it results in controversy. The ethical dilemma of targeting lies within the explicit inclusion or exclusion of groups of customers. Under the framework of Theory of Planned Behaviour (TPB) and the Multidimensional Ethics Scale (MES), this research incorporated ethical evaluation into TPB.
6. Quality
Product quality is one such decision. That exact product features and price depend on local market conditions and distribution system. The Product quality and quantity have to be decided before the beginning of the selling season and cannot be adjusted subsequently Product quality comprises features and characteristics that are offered by a product which is then assessed by the customers against their needs and requirement. According to Kim and Park [38], Product quality gauges the ability of the producer to meet customers’ expectations. Product quality is the actual superiority of the product over the competitors’ offerings upon which customers base their decision to purchase or switch based on the overall experience of using the product [39]. It suggests the idea that high Product quality is associated with high customer attraction as well as retention.Poorly perceived quality by customers not only disengages the existing customers with the company but also drifts away the potential customers from the company which ultimately results in the loss of revenue [23]. In addition to this, according to Liang et al. [43], perceived Product quality can ensure brand loyalty for a company which in turn helps customers from switching brands. Conversely, if the users think that the quality of an alternative or new brand is higher, it tends to create positive attractiveness among the customers and they tend to switch to such other brands.
7.Promotion and advertising
The aims of the study were to analyze level of promotion mix consists of advertising sales promotion direct marketing, personal selling, and public relations, and to find out the level of consumer buying interest, and finally investigated influence of promotional mix on consumer purchase intention of the tourists. The samples in this study were 100 tourists. The method used was combination of quantitative and qualitative analysis. The data was purposively taken using quantitative analysis. Quantitative analysis, is, descriptive analysis, regression analysis, and hypothesis testing by t-test and F-test. Qualitative analysis was performed with the interpretation of the data obtained in the study and the results of data processing that had been carried out by providing information and explanations. The results showed that advertising , sales promotion personal selling, direct marketing, and public relations have positive impact on tourist buying interest
8.Digital marketing
The internet has become an increasingly popular medium for parents to obtain health information. More studies investigating the impact of paid digital marketing campaigns for parents on promoting children’s healthy development are needed. digital marketing campaigns can increase targeted message exposure about parent-engaged developmental monitoring and direct a parent audience to an mHealth app. digital marketing platforms provide helpful metrics that can be used to assess the reach, engagement, and cost-effectiveness of this effort. The results from this study suggest that paid digital marketing can be an effective strategy and can inform future digital marketing activities to promote mHealth apps targeting parents of young children.
9.Marketing strategies
We explored the effects of a novel vaccine trial strategy that actively identifies and enrolls subjects in local areas with high infection rates. In addition, we assessed the practical requirements needed for such a strategy. Clinical trial simulations were used to assess the effects of utilizing these so‐called “hot spot strategy” compared to a traditional vaccine field trial. Our simulations demonstrated that incorporating a hot spot strategy shortened the duration of the vaccine trial considerably, even if only one hot spot was identified during the clinical trial. The active hot spot strategy described in this paper has clear advantages compared to a “wait‐and‐see” approach that is used in traditional vaccine efficacy trials.. Therefore, several recommendations are made to help accomplish rapid clinical trial setup in areas identified as local outbreaks.
10.Communication
is study aims to describe the society-based risk communications maintain security stability, and protect people’s food needs. The implementation of these activities involves the collaboration of communication actors from the police and the army who works in the village, village leader, village health worker, society leader, and volunteer. The officers of Jaga Kampung convey education and socialization of health risks humanistic and persuasively to villagers and newcomers. Communication is done through face-to-face, outdoor media, and social media such as WhatsApp, Facebook, YouTube, and Instagram.
Conclusion
An entrepreneur refers to someone who builds or operates their ownbusiness. By having an equity stake in the firm, the entrepreneur can enjoy a great deal of profit if things go well. Since there is so much at stake when it comes to starting and growing a successful business, there are very specific skills that an entrepreneur usually needs to be successful. Below, we highlight five such attributes. Every entrepreneur needs to be an effective communicator. They also need to master all forms of communication, including one-on-one and in-person conversations, group conversations, written communication, and email or online messages. important that the structure and growth strategy is based on sound business sense and skills. A successful entrepreneur needs to have a solid strategy to take their business from good to great.
Reference
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