Ethical and Social responsibility
What does a trademark protect?
Company logo and brand name
What is a non-disclosure agreement (NDA)
Stops people from sharing confidential business secrets
What is the key difference between traditional marketing and entrepreneurial marketing?
Entrepreneurial marketing is more flexible, innovative and low-budget
Which of the following is NOT considered a problem-solving skill of an entrepreneur?
Decisiveness, critical thinking, business awareness, Business plan writing
Business Plan Writing
What is a pitch deck?
A set of slides used to present your business idea
How are ethics different from laws?
Laws are mandatory rules; ethics are personal beliefs of right and wrong
What is a patent used for?
Protect new inventions (for a limited time)
What are the 4 Ps of the marketing mix?
Product, Price, Promotion, Place
What is a “brand advocate”?
Someone who likes your product and shares it
What is a key advantage of using stories in a pitch?
They help people relate to and understand your business
What is an example of intellectual property?
Copyrights, patents, trademarks
What is diversity in the workplace?
Including people of different backgrounds, cultures and experiences
What is guerrilla marketing?
Creative, low-cost unexpected tactics to gain public attention
Come up with a Shark Tank idea for a new and innovative business
???
What is the main purpose of telling your entrepreneurial story when pitching?
To connect with investors and customers emotionally
Ethical behavior mainly helps build ______ with customers and partners.
Trust
What is a "moral compass"?
Your inner feeling of right and wrong.
What is a target market?
The specific group of customers a business wants to serve
When problem solving, an adaptive model looks for solutions to problems that are known to be effective, while an ______ model looks for brand new solutions to problems.
innovative
What is a risk of focusing too much on your own entrepreneurial story?
You might miss important market challenges or product flaws
A company practicing CSR focuses on:
Its impact on society and the environment
What does "sustainability" mean for a business?
Using things carefully so they last for the future.
What is viral marketing?
Creating content that customers share voluntarily on social media
What is the purpose of a “tagline”?
BONUS: Say a famous tagline
Quickly communicate a core part of the brand
Nike: Just do it
What's a pitch, and what's the difference between a pitch and an elevator pitch?
A presentation where you ask for something, like funding. An elevator pitch is shorter, like you're in an elevator and only have 1 minutes to share why your idea is great.