Market Segmentation
Type of market segmentation that splits people up based on where they live.
What is geographics?
This type of business is owned by 2 people
What is a partnership?
What is it called when you give a brief presentation to potential investors?
Business pitch/pitching
The part of the lean canvas model that identifies the activities a business will measure to determine success
What is key metrics?
POS stands for
Point of Sales
Splits people up based on their age, gender, income, etc.
What are demographics?
This type of business can be tax exempt and their main goal is to do good in the world
Non-profit
Takes an innovative idea and turns it into a business
What is an entrepreneur?
The part of the lean canvas model that states what cannot be easily copied
What is competitive advantage?
Changing directions in your business
What is pivoting?
What are psychographics?
Every business needs this number for tax purposes
EIN
Name 3 parts of the promotional mix
Advertising, sales promotion, public relations, and personal selling
The part of the lean canvas model that describes the pathway the product/service takes to get to customer
What is channels?
Most recent Utah bases business that we watched on Shark Tank
CupBop
Splits people up based on their spending habits. (ie brand loyality)
What is behavioral segmentation?
This is the name for the money that you make after all expenses have been paid
Net profit
Name the 4 parts of the marketing mix
Price, product, place, promotion
The part of the lean canvas model that outlines variable, fixed, and start-up costs
According to Mrs. Kelly, what should all businesses do?
Solve a problem
Name all 4 types of market segmentation.
Demographic
Geographic
Psychographic
Behavioral.
Funding your business all on your own
Bootstrapping
Describes the portion of a market controlled by a specific company
Market share
The part of the lean canvas model is a single statement that states why you are different and worth buying
This is when you get small amounts of money from lots of people over the internet to start your business
What is crowd-funding?