COURSES

Match New Venture Opportunities to Market Needs

Course Code

119669

Review
5/5

$120

Every entrepreneur needs to develop his or her own marketing strategy based on the elements of their marketing mix. Market research is the gathering, processing and reporting and understanding the marketing information, different techniques used and getting to advertising and promotion of the product. How to create a research design and a model of consumer behaviour will assist in understanding the advantages and disadvantages of the product or service.

Develop a marketing plan to reflect research findings and recommendations for the new venture. Setting the rates and personal marketing methods and creating a marketing mix to achieve objectives. Explore the product/service life cycle to evaluate the success of the new venture.

What you will learn in this course!

  • Identifying and describing what marketing is in relation to new venture opportunities.
  • Conducting market research.
  • Identifying market segments in relation to their own venture opportunity.
  • Incorporating market research into a marketing plan.
  • Exploring product/service life cycle.

Who this course is for?

This will suit those working within a SMME (Small, Medium, Micro Enterprise) environment, specialising in New Venture Ownership and Management, where the acquisition of competence against this standard will add value to one’s job. This will also add value to entrepreneurs who are seeking to develop their entrepreneurial skills so that they can become more marketable for bigger contracts, including commercial and public sector contracts, for example the Department of Public Works programmes.

INTRODUCTION

  • Outcomes
    • Identify and describe what marketing is in relation to new venture opportunities.
    • Conduct market research.
    • Identify market segments in relation to their own new venture opportunities.
    • Incorporate market research into a marketing plan.
    • Explore product/service life cycle.

 

IDENTIFY AND DESCRIBE WHAT MARKETING IS IN RELATION TO NEW VENTURE OPPORTUNITIES

  • Outcome
    • Identify and describe what marketing is in relation to new venture opportunities.
  • The Four P’s of Marketing
  • A marketing channel of communication, illustrating.
  • The Concept of PLACE
  • Consumer Orientation
  • Integrated Marketing
  • Factors Determining the Location of a Business

 

CONDUCT MARKET RESEARCH

  • Outcome
    • Conduct market research.
  • The Importance of Market Research
  • The Different Techniques used for Market Research.
  • Advertising and Promotion

 

IDENTIFY MARKET SEGMENTS IN RELATION TO OWN NEW VENTURE OPPORTUNITY

  • Outcome
    • Identify market segments in relation to their own new venture opportunity.
  • The Product / Service requirements of the Target Market of a New Venture
  • Create the Research Design (Plan)Page
  • A Model of Consumer Behaviour
  • The Competitive Advantages and Disadvantages of the Produce/Service

 

INCORPORATE MARKET RESEARCH INTO A MARKETING PLAN

  • Outcome
    • Incorporate market research into a marketing plan.
    • Developing a Marketing Plan to reflect Research Finding and Recommendations for New Venture
  • Setting the Rates of your Business
  • Personal Marketing
  • The Marketing Mix
  • Marketing and Promotion of the Own Venture in the Business Plan

 

EXPLORE PRODUCT/SERVICE LIFE CYCLE

  • Outcome
    • Explore product/service life cycle.
  • The Life Cycle of a Product
  • Criteria for Evaluating the Success of New Ventures
  • Identify the Market Position
  • Market Share
  • Marketing Information

 

Multiple Choice Assessment

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