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Final

ENT 210 Study Guide - Final Guide: Vertical Service Code, Parachuting, Industrial Espionage


Department
Entrepreneurship
Course Code
ENT 210
Professor
stephaniehughes
Study Guide
Final

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Ent210'Notes'
'
Chapter(6:(Creating(offerings(
'
Product,'price'and'service'
- feature'
- benefit'
- total'cost'of'ownership'(TCO)'
- hassle'='time'+'effort'
- pure'service'='skydiving,'nothing'left'after'it!'
- Pure'product'can'still'have'service'attached'
'
Types'of'consumer'offerings'
'
Types:'
- Convenience-'Impulse,'little'effort'by'consumer'
- Shopping-'effort,'compare,'choose'product'etc'
- Specialty-'less'choice,'rare'
- Unsought'offerings-'only'buy'when'needed,'funeral'etc'
'
Types'of'B2B'offerings'
'
Types:'
- Capital'equipment'–'investment,'eg'machinery'
- Raw'materials'-'commodities'
- Original'equipment'manufucater'(OEM)-'manufacturer/assembler'of'final'
product.'
- Maintenance,'repair'and'operations'(MRO)-'Product/service'to'maintain'
operations'in'the'company.'
- Facilitating'offerings'–'products'not'part'of'final'product.'E.g.'banking,'
transport'etc.'
'
Branding'labeling'and'packaging'
'
Branding'
- Brand'recognition'
- used'by'consumers'to'make'choices'
- brand(extension'='using'existing'brand'to'make'a'new'product'
- Cannibalization'='when'a'new'offering'eats'into'an'existing'products'
market.'If'you'don’t'cannibalize'your'own'product,'other'companies'will.'
'
Packaging'decisions'
- communicate'brand/benefits'
- protect'from'damage,'protect'from'leakage'
- install'required'labels/warnings'

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'
Primary(packaging(
- usually'holds'single'retail'unit'
- presents'a'better'retail'offering'and'labeling'
'
Secondary(packaging(
- single'wholesale'unit'of'a'product'
- more'designed'for'retailers'
'
Tertiary(packaging(
- mostly'shipping'and'handling'in'bulk'
- protection'
'
Managing'the'offering'
'
- human'resources,'personnel'to'manage'
'
Brand'manager'
- responsible'for'all'business'decisions'
- ie'running'the'brand'
'
Product'manager'
- responsible'for'a'particular'line'of'product'
- so'all'business'decisions'for'that'product'
'
Category'manager'
- business'decisions'for'a'broad'grouping'of'offerings'
- offerings'can'be'from'different'brands'
'
Market'manager'
- business'decisions'with-in'a'market'
- a'particular'market'segment'
- All'business'in'that'market'are'vertical'market,'grouped'because'of'business'
similarity'and'similar'communication'
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Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

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Ch7:(Developing(and(managing(offerings(
'
The'new'offering'development'process'
'
'
'
'
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Driven'by'consumers,'
suppliers,'employees'etc.'
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