trends

ELECTIVE 1 MIDTERMS – B CHAPTER 4 Trends – It pr ovides one of the gr eatest opportunit ies for st ar ti ng a new venture parti cula rly whe n the entrepren eur can be at sta rt of a trend tha t las ts for a consid era ble period of time. 7 TRENDS that will r!"ide #!rt$nities Green Trend Clean Energy Trend Organic Economic Social ealth !eb S!$r%es !& New Ideas Consumers E"isting #roduct and Services $istribution of Channels %ederal Government &esearch and $evelopment Meth!ds !& 'eneratin( New Ideas )!%$s 'r!$s – groups of individual providing information in a structures format. Brainst!r*in( – a group method for obtaining new ideas and solutions without criticism. Brain +ritin( – form of written brainstorming Pr!,le* In"ent!r- Anal-sis – a method for obtaining new ideas and solution by focusing on problems. Creati"e Pr!,le* S!l"in( Te%hn i.$es 1/ Br ai nst!r*in( '( Re"erse Brainst!r*in( – si mi lar to brainstorming) but with criticism. *( '!rd!n Meth!d – method for deve lopi ng new ide as when the individuals are unaware of the problem. +( Che% 0list Meth! d – developi ng new idea through a list of related issues. ,( C!ll e%ti "e N!te,!!0 Meth!d – developing new idea by group members regularly recording ideas. -( Attri,$te Listin( – developing a new idea by looing at the posi ti ve and negative. /( Bi( Drea* Ar!a%h – developing new ida by thining without constrain. 0( Para*eter Anal-sis – developing new id ea by focu si ng on a parameter identification and creative synthesis. 1( )ree Ass !%iat i!n – dev elo pin g new idea through chain of word association. 23( )!r%ed Relati!nshi – developing new idea by looing at product combinations. It has a five step process4 a) Isol at e the el ements of the problem. b) Fi nd th e re lat ion shi p between these elements. c) Record the relat ions hips between those element. d) An al yz e th e resu lt in g relati onships to fi nd ideas or pattern e) Develop new ideas from these patterns. Inn!"ati!n – it is the ability to apply creative solutions to those problems and opportunities to enhance or to enrich people5s lives. T-es !& Inn!"ati!n Brea0thr!$(h – scientific discovery) new ac6uired nowledge Te%hn!l!(i%al #rdinar- #!rt$nit- Re%!(niti!n – recogn i7i ng the oppor tuni ty often results from the now ledge and e"pe rience at the indiv idual entrepre neur and when approp riate the ent repren eur ial business. Classi&i%ati!n !& New Pr!d$%t From a Firm’s iewpoint! C!n tin $!$s Inn !"a ti! n – least dis rup tin g inf lue nce on established consumpti on pat ter ns 8au tomobi les style) fashion style etc( D-na*i%all- C!ntin$!$s – disrupting influence on esta blished cons umpti on pattern. 8C$) Ipod( Dis%!ntin$!$s Inn!"ati!n – involve s the establishment of new consumption patterns and the creation of previously unnown product. Pr!d$%t Plannin( and De"el!*ent Pr!%ess Ideal Sta(e – promising new product 9serv ice idea shoul d be iden tifie d and impractical ones eliminated in the ideal sta ge) all owi ng ma" imu m use of the company5s resource. C!n% et Sta(e – the ref ine d idea is te ste d to d et erm in e con su me r accept ance) init ial reacti on to the con cep t are obt ain ed from pot ential customers or member of the distribution channel when appropriate. Pr!d$% t De"el! *ental Sta (e – consumer rea cti on to the phy sic al 9 service is determined) consumer panel: in which a group of potential consumers is given product sample. Te st M!n it!rin( Sta(e – pro vid es actual sales result which indicates the acceptance level of consumers. EC!**er%e and B$siness Start2 a) "e b#i tes b) $rac%ing &ustomer Information

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7/17/2019 Trends

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ELECTIVE 1MIDTERMS – B

CHAPTER 4

Trends – It provides one of the greatestopportunities for starting a new ventureparticularly when the entrepreneur can be atstart of a trend that lasts for a considerable

period of time.

7 TRENDS that will r!"ide #!rt$nities Green Trend

Clean Energy Trend

Organic

Economic

Social

ealth

!eb

S!$r%es !& New Ideas

Consumers E"isting #roduct and Services

$istribution of Channels

%ederal Government

&esearch and $evelopment

Meth!ds !& 'eneratin( New Ideas)!%$s 'r!$s – groups of individual providinginformation in a structures format.

Brainst!r*in( – a group method for obtainingnew ideas and solutions without criticism.

Brain +ritin( – form of written brainstorming

Pr!,le* In"ent!r- Anal-sis – a method for obtaining new ideas and solution by focusing onproblems.

Creati"e Pr!,le* S!l"in( Te%hni.$es1/ Brainst!r*in('( Re"erse Brainst!r*in( – similar to

brainstorming) but with criticism.

*( '!rd!n Meth!d – method for developing new ideas when theindividuals are unaware of the problem.

+( Che%0list Meth!d – developing newidea through a list of related issues.

,( C!lle%ti"e N!te,!!0 Meth!d –developing new idea by group membersregularly recording ideas.

-( Attri,$te Listin( – developing a newidea by looing at the positive andnegative.

/( Bi( Drea* Ar!a%h – developing newida by thining without constrain.

0( Para*eter Anal-sis – developing newidea by focusing on a parameter identification and creative synthesis.

1( )ree Ass!%iati!n – developing newidea through chain of word association.

23( )!r%ed Relati!nshi – developing newidea by looing at product combinations.It has a five step process4

a) Isolate the elements of the problem.

b) Find the relationshipbetween theseelements.

c) Record therelationships betweenthose element.

d) Analyze the resulting relationships to find ideas or pattern

e) Develop new ideasfrom these patterns.

Inn!"ati!n – it is the ability to apply creativesolutions to those problems and opportunities toenhance or to enrich people5s lives.

T-es !& Inn!"ati!n Brea0thr!$(h – scientific discovery)

new ac6uired nowledge Te%hn!l!(i%al

#rdinar-

#!rt$nit- Re%!(niti!n – recogni7ing theopportunity often results from the nowledgeand e"perience at the individual entrepreneur and when appropriate the entrepreneurialbusiness.

Classi&i%ati!n !& New Pr!d$%tFrom a Firm’s iewpoint!

C!ntin$!$s Inn!"ati!n – leastdisrupting influence on establishedconsumption patterns 8automobilesstyle) fashion style etc(

D-na*i%all- C!ntin$!$s – disrupting

influence on established consumptionpattern. 8C$) Ipod(

Dis%!ntin$!$s Inn!"ati!n – involves

the establishment of new consumptionpatterns and the creation of previouslyunnown product.

Pr!d$%t Plannin( and De"el!*ent Pr!%ess Ideal Sta(e – promising new product

9service idea should be identified andimpractical ones eliminated in the idealstage) allowing ma"imum use of thecompany5s resource.

C!n%et Sta(e – the refined idea is

tested to determine consumer acceptance) initial reaction to theconcept are obtained from potentialcustomers or member of the distribution

channel when appropriate. Pr!d$%t De"el!*ental Sta(e –

consumer reaction to the physical 9service is determined) consumer panel:in which a group of potential consumersis given product sample.