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Lecture 6

ENT 3003 Lecture Notes - Lecture 6: Marketing Mix, Supercuts, Franchising


Department
Entrepreneurship
Course Code
ENT 3003
Professor
Christopher Garrett Pryor
Lecture
6

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Module 6 (Feb. 18)
Concepts Models Plans:
Venture Concept: The theory linking an opportunity with an innovation
o “We help __(x)___ do __(y)___ so that they can __(z)____.”
X- Customer
Y- Features
Z- Benefit
Business Model: A set of assumptions of how a business creates and captures value
o (1) How do you create value?
With breadth [number of revenue drivers] and depth [number of items
you have within each revenue driver] with the marketing mix)
More possibilities with customization and bundling (latter with those
with lots of breadth)
How do you get the product to your customer?
Direct
Indirect
Single
Multichannel
o (2) Who? The market (build a fence around your market through demographics)
Demographics has B2B with Location, Size, Industry, Race, Income, etc.
Value Chain within the upstream and downstream components
Broad/Niche?
Transactional/Relational
o (3) Advantage
Your Secret Sauce
Whatcha got?
o (4) Image
Differentiation (how you position yourself over others)
The venture/customer interface (how you communicate your value)
From search to purchase
From purchase to use
Moments of truth (tangible)
Communicating the difference
Opportunity
Innovation
Concept

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Consistency is key
o (5) Economics
o (6) Ambition
Subsistence
Income
Managed Growth
Speculative
Looking for a cash out
Revenue Models:
Revenue Models: A component of the business model that explains how the venture
earns income and profit
Business Models: How a venture creates, delivers, and captures value
The Unit Sales Revenue Model
o Emphasis on number of items sold (volume) (e.g. Cambell’s Soups, Supercuts, fax
machines, and coffee makers)
Advertising Revenue Model
o Emphasis on advertising products & services (e.g. Google AdWords, Yelp, and
The New York Times)
Data Revenue Model
o Emphasis on selling high-quality, exclusive, valuable information (of user
behaviors) to other parties (e.g. applications)
Intermediation Revenue Model
Leverage
Margins
Revenue
Drivers
Volumes
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