ENTREPRENEURSHIP & Marketing Lesson 3

Groups: Gardening Pot Luca Ethan Stella Dog Toy Jaiden Trevor Savanah Julia App Max Mesha Bronwyn Mia Vegan Products Gabe Austin Kayley Isabel Math App Patrick Liz Alexi Nick

Taboo

Products: New food line with strictly vegan products New form of technology to help organize & prioritize based on interests and hobbies and workload Dog toy that strengths teeth (teething toy for puppies) but also has vitamins in it New gardening pot that helps drain water better for potted plants New online game that helps kids learn math quicker and with less difficulty

Review…

What is a market?

An actual place where demand and supply operate, and where buyers and sellers interact

What is a Target Market? Target market is the “end consumer” to which the company wants to sell its products too.

What are different examples of a demographic segment?

Demographic Segmentation: gender Geography FaMiLy SiZE AGE education ETHNICITY religion $

Can we sell our product/service to these segments all in the same way?

How do you analyze a market? Trend Rapid growth in global economy Increase in the number of small and medium sized businesses Rapid change & growth in the technology sector Increasing use of contract labour Opportunities for Entrepreneurs Imports and exports Political & economic climates is ripe to help support ENT Growing opportunities to share experiences, pool resources and make referrals Opportunities emerge in the areas of info tech, med tech, envt tech and commun. tech Consulting practices with professionals who can work with a variety of clients Opportunities for Enterprising People More jobs for people with international experience Increased employment opportunities for people who can multitask and approach every day creatively Opportunity to learn and grow as new businesses develop & practices change Opportunity to become self-employed while working for a large organization.

Research Time!