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    Opportunity Seizing

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    John Matthew Gicom
    The document discusses key stages in seizing a business opportunity: 1. Crafting a positioning statement by analyzing competitors, customers, and market preferences. 2. Conceptualizing products or services that are compelling and unique. 3. Designing and prototyping the concept, and testing it with potential customers. 4. Implementing the business by planning, organizing financing, and considering factors like technology, resources, sales targets, and costs.

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    Opportunity Seizing

    Uploaded by

    John Matthew Gicom
    75 views9 pages
    The document discusses key stages in seizing a business opportunity: 1. Crafting a positioning statement by analyzing competitors, customers, and market preferences. 2. Conceptualizing products or services that are compelling and unique. 3. Designing and prototyping the concept, and testing it with potential customers. 4. Implementing the business by planning, organizing financing, and considering factors like technology, resources, sales targets, and costs.

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    The document discusses key stages in seizing a business opportunity: 1. Crafting a positioning statement by analyzing competitors, customers, and market preferences. 2. Conceptualizing products or services that are compelling and unique. 3. Designing and prototyping the concept, and testing it with potential customers. 4. Implementing the business by planning, organizing financing, and considering factors like technology, resources, sales targets, and costs.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    75 views9 pages

    Opportunity Seizing

    Uploaded by

    John Matthew Gicom
    The document discusses key stages in seizing a business opportunity: 1. Crafting a positioning statement by analyzing competitors, customers, and market preferences. 2. Conceptualizing products or services that are compelling and unique. 3. Designing and prototyping the concept, and testing it with potential customers. 4. Implementing the business by planning, organizing financing, and considering factors like technology, resources, sales targets, and costs.

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    IN G

    t un it y E IZ

    2
    Oppor S
    • opportunity
    Final stage after opportunity seeking and screening
    • Will I be able to manage to my advantage, the critical
    success factors and avoid the critical failure factors?”
    •
    SEIZING
    The critical factors vary and depend on market segment
    the enterprise is addressing
    • It is important for the entrepreneur to establish the
    positioning of the business enterprise in the
    marketplace
    IT IO N
    P OS EN T
    NG E M

    1
    CRAFTI STAT
    Must look at its competitors
    • Major Buyers
    CRA FT I N G
    • Attributes that make their products worth selling
    • Customer profiling – identify their characteristics, behavior, and
    preferences

    Process of questioning
    1. What are the main customer segments?
    Positioning
    Statement
    2. What are the diffErent product attributes and features of each of the
    competitors?
    3. What are the existing marketing practices of the various competitors?
    4. What are the market preferences of consumers when it comes to the
    products being offered?
    grid 1
    grid 2
    a li z i n g
    nceptu

    2
    co
    pt u a liz in g
    • After making an assessment of the nc e
    cocompeting products, an
    entrepreneur must conceptualize his/her products
    • Concept
    • An idealized abstraction of the product/service
    • Must be compelling & unique Products or
    • Product should contain desired attributes/features
    Services
    a li z i n g
    co nceptu
    • Options/directions to come up with a product/service concept
    1. Create a concept similar to the winning products in the marketplace
    and ride with the obvious market trends
    2. Find a market niche that has not been filled by competitors
    • Market niche means small segments of the market where discriminating
    customers are searching for special product/service features and attributes
    3. Conceptualize a product in a positioning category where the
    participants are rather weak
    4. Conceptualize a product that would change the way customers think,
    behave and buy, thus making existing products “obsolete” and “old-
    fashioned”.
    o t o t ypin g
    ni ng , pr
    Desi g
    and te sti n g
    des ig ni n g

    3
    Designing – render the concept and translate into physical and
    real dimensions (with measurements).
    • Building a prototype for testing PROTOTYPIN
    • Subject to testing by potential customers through Focus Group
    Discussion (FGD) such as surveys G
    • The entrepreneur must be able to “Perfect” the product
    TESTING
    • Assess how much resources are available to seize an
    opportunity
    • Determine what kind of organizational setup will work best for
    this opportunity
    , ORGA N IZ ING
    E M ENT I N G
    G
    PL

    4
    IMPLEM
    E
    &
    N T
    F
    IN
    IN A NCING IM
    • Good planning and good programming are essential to have good
    implementation
    ORGANIZIN
    • End Result – final outcomes of the business
    • A good planner and programmer must make several important choices to
    achieve desired end results
    1. Choose the correct technology
    G
    FINANCIN
    2. Choose the right people who can perform technical and managerial
    functions G
    3. Desire the operating workflow that would assure effective, economical,
    and efficient production of the output
    4. Specify the systems and procedure
    5. Design the organizational architecture where people would function
    their best
    GA N IZ ING
    N TIN G , OR
    E
    IMPLEM F IN A NCING
    &

    • Entrepreneurs must be diligent in acquiring resources


    o People and physical resources are dictated by the sales volume
    targeted
    o Sales volume – defines the quantities of materials, supplies, power,
    space, people, operating expenses and other requirements.
    o Technology – defines the capital’s expenditures and work processes
    necessary
    o Capabilities of the worker – calibrates the salaries and wages, benefits
    and allowances, travel and transportation, and other related people-
    related expenses
    o Peso or money resources – depends on the people and physical resources
    and other financial requirements

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