Subject/Topic: Entrepreneurship Required: PLEASE EXPLAIN THE PHOTO

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
icon
Related questions
Question
Subject/Topic: Entrepreneurship Required: PLEASE EXPLAIN THE PHOTO
Biggest
Challenges/Issues[3,4]
1. Difficulty Keeping up with innovations or being the visionary.
With the large number of competitors emerging, it is becoming
increasingly difficult to keep up innovating. On top of that,
investors want a better product. Knowing when to change is
becoming key.
2. Harder navigating regulation and compliance. More and more
regulations and bureaucratic red tapes have emerged. Many
startups are bringing in a consultant to help with these areas
rather than trying to understand the complexities themselves.
3. Exploding data. With 90% of the world's data was created in
the past two years and managing, keeping safe and extracting
insights from the ever-increasing amounts of data your company
produces is becoming difficult.
4. Maintaining reputation is getting tougher. With sites like Yelp
or TripAdvisor, customers can voice any displeasure so much
more publicly and loudly than ever before. Businesses need to
continually monitor and maintain their online reputations.
Transcribed Image Text:Biggest Challenges/Issues[3,4] 1. Difficulty Keeping up with innovations or being the visionary. With the large number of competitors emerging, it is becoming increasingly difficult to keep up innovating. On top of that, investors want a better product. Knowing when to change is becoming key. 2. Harder navigating regulation and compliance. More and more regulations and bureaucratic red tapes have emerged. Many startups are bringing in a consultant to help with these areas rather than trying to understand the complexities themselves. 3. Exploding data. With 90% of the world's data was created in the past two years and managing, keeping safe and extracting insights from the ever-increasing amounts of data your company produces is becoming difficult. 4. Maintaining reputation is getting tougher. With sites like Yelp or TripAdvisor, customers can voice any displeasure so much more publicly and loudly than ever before. Businesses need to continually monitor and maintain their online reputations.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles Of Marketing
Principles Of Marketing
Marketing
ISBN:
9780134492513
Author:
Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:
Pearson Higher Education,
Marketing
Marketing
Marketing
ISBN:
9781259924040
Author:
Roger A. Kerin, Steven W. Hartley
Publisher:
McGraw-Hill Education
Foundations of Business (MindTap Course List)
Foundations of Business (MindTap Course List)
Marketing
ISBN:
9781337386920
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing: An Introduction (13th Edition)
Marketing
ISBN:
9780134149530
Author:
Gary Armstrong, Philip Kotler
Publisher:
PEARSON
MKTG 12:STUDENT ED.-TEXT
MKTG 12:STUDENT ED.-TEXT
Marketing
ISBN:
9781337407595
Author:
Lamb
Publisher:
Cengage
Contemporary Marketing
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning