Notesale: Turn your study into money

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HULT International Business School
Principles of Entrepreneurship (ENT200) - Midterm Exam Study Guide
Note - For the semester with D
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​ Answer to the homework:​ Opportunity analysis & evaluation:​ opportunities emerge in various ways, including:
➔ technology
➔ filling a market gap
➔ market trends
➔ exploitation of new technologies
➔ Backcasting = Forecasting: ​make an assumption (today) of what the future would need, look like
and make a product/service to fill that
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In some cases the market may not be ready for these products
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​ ​Opportunity evaluation: ​there are 2 ways to evaluate opportunities:
- Qualitative​, in order to find a niche market
​competitive activity
- buyer requirements
- market demand
- supplier sources
- environnemental forces
- organizational capabilities
- Quantitative​:
- market sales potential estimates
- sales forecast
- budgets
3
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​About the ​customer point of view​:
- Customer ​perceived value: the difference between the total customer value and the total customer
cost
- Customer satisfaction: the extent to which a product perceived performance matches a buyer’s
expectations
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5
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- = CAC: Customer Acquisition Cost ​—> + customer retention is important (nowadays strategies are
poor)
- CAC > LTV => no need to invest into acquiring the customer (the amount of acquiring the customer
is higher than the price they are going to pay on the product)
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​The Kano Model​:
- The ​Kano Model of product development and customer satisfaction was published in 1984 by Dr
Noriaki Kano, professor of quality management at the Tokyo University of Science
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It is also about
customers' emotions
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- The model encourages you to think about how your products relate to your customers' needs,
while moving from a "more is always better" approach to ​product development to a "less is more"
approach
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On the other hand, adding one particularly
attractive feature could delight customers and increase sales without costing significantly more
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equity) which you can accept/reject/counter-offer, IPO
(cash prefered) which requires you to check the updates from SEC (securities exchange)
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first-fail strategy: limiting exposure to failure until you're sure of the business ventures capabilities
scenario based question: abstract question, own interpretation
how an organization can achieve both scaling (growth) while trying to utilize the 2 other types of
strategies retrenchment (linked to sizes) & stability

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