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Introduction to Business

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“Introduction to Business”, Laurence J Gitman , Carl Mc Daniel, 2018

“Pengantar Bisnis” edisi ke 10, Ebert & Griffin

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Aryo Pratomo, MBA

pratomo.aryo@gmail.com

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Entrepreneurship,

New Business, Competition

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“Having an idea is the first step…”

  • It follows that the idea must be profitable.
  • Determining whether an idea has potential requires a study of the competition and the relevant market.

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https://www.youtube.com/watch?v=e0CefSh_bdk

https://www.youtube.com/watch?v=XL6zNexyt8o

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Small Business

  • Example : Dell, Netflix, etc..
  • Small Business
    • Independent (own managed)
    • Have employee < 500 people (US)
    • Small influence to the market

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Entrepreneurs

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Entrepreneurs are not only people who build massively successful companies, but they are responsible for creating new ideas and products that have crafted and curated the world we live in today.

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Small Business to Big Business

  • Start & Running the Business
    1. Buy an existing business. Ex: Air Asia cases
    2. Francise
    3. Start from Zero

“The Journey of a thousand miles begins with one step.”

Lao Tsu

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Small Business to Big Business

  • Many market are crowded with multiple sellers chasing the same customers.
  • For these sellers, competition lowers profitable.

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Small Business to Big Business

Start small, Think big

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Market Maps are diagrams that represent a market and the placement of products within the market, providing a visual means of studying the competition.

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To draw up a market map, a firm identifies several consumer purchase-decision factors that stand in opposition to one another.

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Two of there dimensions, or opposing pairs are plotted onto a horizontal and vertical axis.

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Based on market research of the knowledge of managers, all of the products within a particular market can be plotted onto the map.

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Small Business to Big Business

Start & Running the Business

Market mapping: plots opposing qualities of product along two axes. By identifying the two main oppositional factor for any product. It is easy to see gaps in the market

Does the gap contain enough business to generate a profit?

Market GAP

Market GAP

Market GAP

Market GAP

The Goal of market mapping is to identify opportunities where a firm can differentiate its self from competitors.

     

   “Finding the gap”

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Small Business to Big Business

USP (Unique Selling Proposition)

USP : the unique benefit that makes your business or product better than the competition.

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Apple’s Unique Customer Experience = Apple’s USP

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USP Domino’s Pizza:

“Fresh hot pizza, delivered in 30 minutes or less or it’s free”

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Start & Running the Business

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Start & Running the Business

Snapple Success because…

  • Positioning the product as a unique brand - Natural Juice. Slogan “100% Natural”
  • Targeted commuters, student and lunch time workers with new healthy “snack” drink
  • Having USP with irrelevant marketing
  • Small bottle - consumed one sitting
  • Small, inner city store (grab & go)

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Start & Running the Business

  • Other tools to analyzing the competitions of a business:
    • TOWS Analysis
    • Five Forces Porter

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TOWS Matrix

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