Thursday, January 28, 2016

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. 


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

Tuesday, January 19, 2016

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.


If you have any other websites that you found useful,
comment below!!

Thursday, January 14, 2016

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!