MGMT 340 Study Guide - Midterm Guide: Inside Out Music, Product Differentiation, Netflix
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Provide their owner a similar level of income to what they"d earn at a conventional job: lifestyle firms b. i. Provide their owner the opportunity to pursue a particular lifestyle and make a living from it: entrepreneurial firms c. i. What people think is in : technological advances c. i. New uses of old technologies: political/legal/regulatory changes d. i. Assessment of the overall appeal of the product or service being proposed a. ii. Product/ service desirability and demand: concept test b. i. Describe business to gain feedback on business idea potential: buying intentions survey c. i. Understand each of them: industry/target market a. i. Assessment of overall appeal of industry and target market for proposed business a. ii. Determine whether a proposed business has sufficient management expertise, organizational competence, and resources to successfully launch b. ii. Management prowess and resource sufficiency: financial c. i. Suggestions for how the idea can be strengthened or changed before further proceeding: what are two components of industry/market feasibility analysis, industry attractiveness a. i.
