ENTREPRENEURIAL TACTICS IN MARKET RESEARCH CHAPTER 10
FINANCIAL GLOSSARY CHAPTER 11
Five reasons for the lack of strategic planning CHAPTER 13
VOCABULARY CHAPTER 9 & 10
100
This is used in situations where a form of organization is needed that permits capital investment without responsibility for management and without liability for losses beyond the initial investment
What is LIMITED PARTNERSHIPS
100
Finding lead users in the marketplace or in particular industriespeople who have needs for which no solution exists and who often have ideas for effective products that have not yet been developed
What is LEAD USER RESEARCH
100
An interest in property or in a business, subject to prior creditors
What is EQUITY
100
Entrepreneurs perceive the cost associated with planning to be very high. This fear of expensive planning causes many business owners to avoid or ignore planning as a viable process
What is PERCEPTION OF HIGH COST
100
involves the gathering of information about a particular market, followed by analysis of that information
What is MARKETING RESEARCH
200
a business that is owned and operated by one person
What is A SOLE PROPRIETORSHIP
200
The use of nonconventional tactics and unorthodox practices applied to marketing research
What is GUERRILLA MARKETING
200
The amount invested in a business by the proprietor(s) or stockholders
What is CAPITAL
200
Entrepreneurs report that their time is scarce and difficult to allocate to planning in the face of day-to-day operating schedules
What is TIME SCARCITY
200
a federal law that provides for specific procedures to handle insolvent debtors those who are unable to pay debts as they become due
What is THE BANKRUPTCY ACT
300
A distinctive name, mark, symbol, or motto
What is TRADEMARK
300
Blog sites have produced a new source of market research insights. A blog is a website that includes user-generated content, typically on some focused topic where anyone can post opinions or information allowing for interactive discussions
What is BLOG MONITORING
300
A method of accounting whereby revenue and expenses are recorded when received and paid, respectively, without regard for the period to which they apply.
What is CASH FLOW OF ACCOUNTING
300
Entrepreneurs are highly sensitive and guarded about their businesses and the decisions that affect them.
What is LACK OF TRUST AND OPENNESS
300
an artificial being, invisible, intangible, and existing only in contemplation of the law
What is CORPORATION
400
This provides exclusive rights to creative individuals for the protection of their literary or artistic productions
What is COPYRIGHT
400
Gathering small groups of potential customers (usually 6–10) for an in-depth discussion about the new venture the entrepreneur is proposing may be a valuable source of insights.
What is FOCUS GROUPS
400
Debts you must pay within a year
What is CURRENT LIABILITIES
400
Entrepreneurs typically are generalists, and they often lack the specialized expertise necessary for the planning process
What is LACK OF EXTERISE/SKILLS
400
This research involves empirical assessments that work from numerical measurements and analytical approaches to compare the results in some way
What is QUALITATIVE RESEARCH
500
Provides the owner with exclusive rights to hold, transfer, and license the production and sale of the patented product or process.
What is PATENT
500
Insights can be gained from observing situations as they occur. Observational approaches can take many creative forms. They can be obtrusive, where the subject is aware that he or she is being observed, or unobtrusive, where he or she is not aware.
What is CUSTOMER OBSERVATION
500
An expired cost; any item or class of cost of (or loss from) carrying on an activity; a present or past expenditure defraying a present operating cost or representing an irrecoverable cost or loss
What is EXPENSE
500
Entrepreneurs have minimal exposure to, and knowledge of, the planning process. They are uncertain of the components of the process and the sequence of those components.
What is LACK OF KNOWLEDGE
500
This describes the use of these tools for marketing purposes. The most common social media marketing tools include Twitter, blogs, LinkedIn, Facebook, Pinterest, Instagram, and YouTube