Competitive Forces
Physical goods, digital assets, or services bought via an online source.
What are examples of e-commerce?
AI systems rely heavily on this raw material to function effectively.
What is data?
When one business offers products or services to a consumer.
What is business to consumer?
SEO stands for this S______ E_______ O_______, which helps websites rank higher on Google.
What is search engine optimization?
This is the simplest form of business ownership in Canada, owned and operated by one person.
What is a sole proprietorship?
PESTEL is an acronym for...
What is Political, Economic, Social, Technology, Environmental and Legislation
This characteristic of data refers to its accuracy, completeness, and reliability.
What is data reliability?
Often used interchangeably with a business plan for new, high-risk, or entrepreneurial initiatives
What is the term venture plan?
This process divides a large market into smaller groups based on shared traits.
What is market segmentation?
Businesses earning more than $30,000 in annual taxable revenue must register for this tax.
What is GST/HST?
When a business continually scans the external environment for trends and changes that will have an impact on everything from consumer needs to company pricing decisions.
What is Environmental Scanning.
How to integrate vertically in order to have some more control over supply chain management with an increasingly unstable external environment.
What is SELF-RELIANT TECH?
Ability to implement business activities through online pathways such as the internet.
What is E-Commerce?
The ideal customer profile a business creates is known as this.
What is the ideal customer persona?
Analyzing strengths, weaknesses, opportunities, and threats is known as this framework.
What is a SWOT analysis?
A period of economic activity characterized by negative growth which reduces demand for goods and services.
What is a RECESSION?
Ensuring AI systems make fair and unbiased decisions relates to this concept.
What is AI ethics?
A new business that offers the possibility of positive outcomes but could involve risk for the entrepreneurial team members.
What is a venture?
When companies adjust all four Ps to appeal to a specific audience, they are developing this.
What is a marketing strategy?
Protecting your business name, logo, or slogan legally involves registering this.
What is a trademark or intellectual property?
We choose products and services that meet our diverse needs and interests rather than conforming to traditional stereotypes.
What is the term Component Lifestyles?
Setting measurable goals for AI initiatives involves defining these KPIs. What does KPI stand for?
What are Key Performance Indicators?
An individual, group, or organization who is impacted by a decision or series of decisions made from the venture.
What are stakeholders?
The 4 Ps of Marketing are?
What is price, product, place and promotion?
Depending on the industry, you may need these official permissions from municipal or provincial authorities.
What are licences and permits?
This piece of legislation ensures that small and medium businesses have equal opportunity to participate in Canada's economy.
What is the Competition Act?
A subset of artificial intelligence (AI) that enables systems to learn from data, identify patterns, and make decisions or predictions without being explicitly programmed for every specific task.
What is Machine Learning?
Businesses pay attention to the age, gender, and income related to their ideal customers and this type of segmentation is called:
What are demographics?
This can change over time based on many factors?
When marketing teams tracking click and conversions they are doing so in order to be able to analyze:
What is data analytics?
What affects socioeconomics?
Wars, Russia, China, Issues in Canada between provinces all affect socioeconomics.
Platforms like HubSpot or Mailchimp handle repetitive tasks like email sequencing and social posting.
What is Marketing Automation?
Types of devices that can communicate with each other such as how traffic cameras can now connect with driver's smart watches.
What is the Internet of Things?
This is now law but also helpful when entrepreneurs are designing websites.
What is an Accessible website? Or AODA compliant website?
This acts as a blueprint that will help identify gaps that drive opportunities for AI. Identifying key pain points in a business will help you prioritize the most valuable AI initiatives you want to utilize in your e-commerce business.
What is a SWOT with a focus on AI?