E360 Update

"Customers buy for their reasons, not yours."

-- Orvel Ray Wilson

Market Research:

• Demographics
• Age
• Income
• Culture
• Gender
• Ethnicity
• Geographics
• Where are you selling your product? Think about the demographics within your location.
• Psychographics
• study of your customers' attitudes, aspirations, and other psychological criteria (via Google)

Objectives: (via Google)

• Define Target Market:
  a particular group of consumers at which a product or service is aimed
• Define Target Segment:

Marketing Plan: Noah Salem

• Know your stuff!! Know your information and what you're selling rather than memorizing what you're going to say.
• The color, font, and style of your presentation makes a big difference!! Make it look good and appealing for your audience!!  
• The PowerPoint Presentation

Activity: Magazine Activity 

• Based on the marketing research points, think about what advertisements are trying to sell, and to who.
• Who would read this magazine and see this advertisement?
• Ex. Vap- Cigarettes in WIRED Magazine would be targeted to older men trying to smoke something other than cigarettes. 

Homework:

• Journal quote related to your business
• Business Plan 1-10
• PITCH! PITCH! PITCH!
• Remember to look at Upcoming Dates on the left!! 

Economics of One Unit

Today your EOU's were due, but I know some of
you are still trying to find prices!
Here are some websites we used to find prices
for packaging and other items.

• http://www.uline.com/
• http://aeolidia.com/wholesale-pricing-tips-formulas/
• http://www.staples.com
• https://www.dollardays.com/ 

If you have any other websites that you found useful,

comment below!!

It's a Quick-Win!

In class today, we went over some topics to consider for your business plan!! Here is a list of some of these topics.

Know your numbers!

• Price - Expenses = Profit
• We are not only thinking about the money we are making per unit, but we are also thinking about the money we are losing.
• COGS

How Big is Your Market? Some things to think about.

• Who are the people that want what you are selling?
• When do they want what you are selling?
• Why would your customers want what you are selling?
• How much of it do they want to buy?
• What is the potential of what you are selling?

Googling is a SKILL! A few ways to make Google find the information YOU NEED.

• "(your interest)" market trends
• "(your interest)" market size
• "(your interest)" industry size
• "(your interest)" industry revenue
• Add "pdf" at the end of any search, or you can try ".doc"
• If you're searching for a PowerPoint presentation, put "ppt" at the end
• An example would be:

Buzz Words!!

• Words that are used to make it sound like you know what you're talking about.
• Sound like an authority.
• Here's the list you used in class. (From Wikipedia)
• Have more Buzz Words that aren't on the list? Put them here!!
• Make sure that when you are using buzz words, you are putting them in proper context!

30-Second Pitches. How to make that 30 seconds count!

• Make your company name easy to say/pronounce.
• Think about and/or try to find out the common needs of your customers.
• Ex. Picking out a greeting card
• Ex. Cotton candy! Mention sugar-free, but possibly don't remind customers of the products that aren't sugar free.
• Try starting your pitch with a catchy phrase that will reel people into what you are selling.
• Have all of the points that you are making connect to each other.
• Reword what you were trying to say when getting feedback on your pitches.
• Word your pitches so that what you are saying in your pitch is understood the first time.
• What's the product? Let's see it!! 
• Fluctuate your voice!! Make your pitch sound better just by the way you speak.
• Sound happy. Look happy. BE HAPPY ABOUT WHAT YOU ARE SELLING. Be confident!
• Always stand up when you are presenting! Command the floor.
• Introduce yourself. Who are you?!! Make yourself stand out! (First and Last Name)
• Be careful to not repeat yourself too much.

**If there is anything that you would like to add that isn't in this post, please comment below! Thank you!