Home / Questions / Assignment: In Week #3 you'll complete your first Entrepreneurial Marketing Report.
Assignment:
In Week #3 you'll complete your first Entrepreneurial Marketing Report. For this assignment I'd like you to identify a small or medium sized business that is competing effectively by applying the concepts explored in your book (Marketing That Works).
For example, one company that I think is interesting is Flatworld Knowledge. They offer low-cost text-books to professors and students. What I like about the venture is:
- The entrepreneurs have industry experience, having worked for big academic publishing companies
- They have an expert team of advisers
- They are seeking a small piece of a huge market
- They provide value to both students and professors. In fact, professors can publish their own digital text-books for their classes.
If I were writing about this company for this assignment I'd go through the text and identify areas where they are excelling. For example:
Chapter 1 - Market Driven Strategy
I don't need to tell you: The prices for textbooks are outrageous. I like the fact that these entrepreneurs are taking on the challenge and trying to provide a market-driven solution.
Chapter 3 - Entrepreneurial Pricing
They are using a penetration strategy. A lot of students (especially those from lower-income segments of society) cannot afford books and this may force them out of school. In this model, students only pay for what they need, which is innovative.
Chapter 4 - Distribution Channels
The internet allows for 24/7 access to digital texts. Since many students have lap-tops in class, the company can bypass the regular distribution channel. Of course, this may place students without a lap-top at a disadvantage.
Some areas of concern, based on what I've seen so far, is:
Chapter 7-0: Public Relations & Marketing Issues.
It doesn't seem as if a value proposition has been articulated well enough. It also isn't clear that the company has really done a good job segmenting the market. They could do a better job with their target marketing. Also, the quality of the texts does not seem to be as good as that which you'd get from a $100+ text book.
Will this company be successful in the long-run? It is probably too soon to tell. However, what they are doing is very interesting and the entrepreneurs deserve a lot of credit for their efforts.
Nov 08 2017 View more View Less
Describe three ways a government policymaker can try to raise the growth in living standards in a society. Are there any drawbacks to these policies?
Jul 16 2021Draw the Lewis structure for sulfur trioxide (SO3) molecule. Include all resonance structures.
May 22 2021(a) Find parametric equations for the ellipse [Hint: Modify the equations of the circle in Example 2.](b) Use these parametric equations to graph the ellipse when a=3 and...
Jul 16 2021what is the volume of a sphere with a radius of 3 inches
Jun 20 2021b P The market for steel Pp D Qs Qp The preceding figure represents an example of A. a public good. B. the efficiency of private markets. C. a positive externality. D. a ...
Mar 13 2020In a recent year’s financial statements, Home Depot reported the following results. Compute and interpret Home Depot’s return on assets (assume competitors average a 8.0%...
Mar 30 2020What is symmetry operator? Explain Reflection and inversion symmetries. [5] (b) Analyze the reasons of studying reciprocal lattice and reciprocal crystal? Illustrate the...
May 16 2021In the immediate environment, first factor that affects the consumer is the ________ __________
May 10 2021Wyco Park, a public camping ground near the Four Corners National Recreation Area, has compiled the following financial information as of December 31, 2015. Revenues duri...
Apr 06 2020The Standard Normal Distribution • Describe the characteristics of a standard normal distribution. • Find the probability of some range of z values in a standard normal...
May 22 2021