Contemporary Marketing (MindTap Course List)
17th Edition
ISBN: 9781305075368
Author: Louis E. Boone, David L. Kurtz
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 13, Problem 1C
Summary Introduction
Case summary:
Company C sells Product GY in the Country U. It is known for its taste and quality. The sales of the product kept on increasing because of its thickness, slightly tart taste, and crème texture. This product contains less sugar and more proteins compared to any other products produced in Country U.
The company planned to enlarge its business now it has six manufacturing plants. Person U the founder of the product says to the customers who never liked the Product GY would be the customers who have never tasted this product. This person received the best entrepreneur award for his effort.
To identify: The factors that are reason for the increasing popularity of Product GY.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Shutterstock was started by an amateur photographer who needed a little extra money on the side. The founder Jon Oringer saw a gap in the market and took it, setting up space online to sell stock images from his personal photo library.He teamed up his hobby of photography with his professional software skills and his side hustle creation became one of the world’s biggest stock companies.
https://www.slowhustle.org/entrepreneur-success-stories
In light of the abstract Identify and discuss core entrepreneurial competencies that relates to Shutterstock stable competencies, talent, recognition of opportunity, managingrisks, being creative in solving problems and building and using network
Q1. Identify the entrepreneurial traits that Ed Sabol and his son Steve exhibit?
Q2. How would you characterize the Sabol’s philosophy, beliefs, and values to a small business as it grows?
Q3. What factors have led to NFL Films’ success?
In your initial response, please respond to the following questions:
1. Why do some businesses succeed while others fail? List and explain three main reasons why businesses fail.
2. Starting a new business from scratch can seem like a daunting proposition. Accordingly, some entrepreneurs may choose to buy a business that is already established, or purchase a franchise from a business that already has name recognition.
Chapter 13 Solutions
Contemporary Marketing (MindTap Course List)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.Similar questions
- You are about to finish the business degree in near future. There are different options afterwards, most of the students seek job opportunities, and many of the students decide to manage their family businesses. In recent times, entrepreneurship studies got much interest among young graduates and people tend to establish independent units. If you choose to become an entrepreneur, why would you choose to be? In case you choose not to become an entrepreneur, what would be the reason? Also prepare your own SWOT analysis.arrow_forwardEmphasis on distinctive competencies, writing a business plan, and choosing an industry in which to compete, are some of the basic strategic challenges for entrepreneurial organizations. True False please explainarrow_forwardWho among the following is the most successful entrepreneur? Choose at least two number. Explain why. 1. A 35 year-old farmer who has owned a two hectare pineapple plantation for 10 years, makes just enough to get by, but loves what he is doing, and calls everyone in the barangay a friend. 2. A 30 year-old CEO of a software firm who works 70 hours a week, stays stressed, never sees his family, but makes five million pesos in revenue per year. 3. A 35 year-old single mom who makes money online with internets, and gets to spend all the time she wants with her kids. 4. A 22 year-old college dropout who created a few websites that he manages a few hours per week and now makes enough to travel the world, spends time with friends and family, and pursues his favorite hobbies.arrow_forward
- After graduating from university, you want to open a new company, thinking that you have an entrepreneurial feature. Which of the management models described by McGregor would you apply? Explain your reason for application and the advantages of the management model in items.arrow_forward1. Does someone need to start a business from scratch to be called an entrepreneur? 2. Can we call someone an entrepreneur if they bought an ongoing business from someone else or took over the operations of a family business from their parents? 3. If someone starts a small business and never needs to hire employees, can they be called an entrepreneur?arrow_forwardWhat is the difference between entrepreneurship and an entrepreneur? Briefly expound your answer, thank you so much!arrow_forward
- Creating the Competitive Advantage for Small BusinessDuring an economic crisis, small businesses are often the first victim. Due to limited resources, small businesses cannot sustain the operation of their business. If they cannot cover the fixed cost, entrepreneurs choose to throw in the towel and give up. However, some entrepreneurs are, though, with the ability to bounce back immediately. The key to their success is their ability to unlock the industry’s competitive landscape. Previously we discussed Porter’s competitive advantage. Experts noticed that those small businesses that immediately recover and even thrive during and after the crisis understand the competitive landscape. These are the businesses that succeeded in pursuing a competitive strategy that falls in terms of providing the low-cost market product, differentiates their product over competitors, or used the focused approach. For instance, Panda food delivery is not a “new” idea. Before the advent of the internet…arrow_forwardHow would you describe yourself as a student that wants to be a entrepreneur?arrow_forwardEveryone admires an entrepreneur, but maybe that is because no one knows exactly what he or she does. A description of entrepreneurial duties has never been solidified, and Wirtz explains that this is an ongoing problem for those wanting to measure such duties and responsibilities, as well as for those wanting to conduct research into the successes and failures of entrepreneurship. How did you move from being a young (child) entrepreneur to becoming an employee or thinking of becoming just an employee?arrow_forward
- As a consultant, critically assess John’s entrepreneurial potential by identifying anddiscussing key characteristics and skills that are most critical to his entrepreneurial success.Provide relevant examples that will support the assessment (use examples from othertechnological innovators in this field, when discussing the characteristics and skills, thedetails from the examples must be clearly stated).arrow_forward1.What were some of the key customer, technology, and market trends that drove entrepreneurship during the last decade? What factors do you predict will drive entrepreneurial challenges in the next decade? 2. As a customer, list down all your dissatisfaction when you buy something from the store, go to the spa, transact with a bank, etc. What could be done to minimize your dissatisfaction?arrow_forwardIn your own words what comes into your mind when you hear the word entrepreneur? business?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,
MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSON
Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
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
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning