I was a little surprised to find out that great entrepreneurs live in fear of becoming preempted in the market. I thought that all great entrepreneurs would be very confident in their business, while still striving to become even better. I was surprised that the fear of being replaced was considered to be a good characteristic.
I was a little confused about what secondary data was. Is it just data that has already been collected by a research company or is it data that a company has acquired itself?
One question I would ask the author is "Is the internet the best form of marketing?" I was just curious if most marketing money should be invested in internet ads or somewhere else such as newspapers and billboards.
Another question I would ask the author is "Does the money spent on marketing change as the product becomes more successful?" I was just curious if as the product generates more profits, should more money or less money go into advertising for it?
I think that the author was wrong about the definition of market. The definition states that a market is a group of consumers with purchasing power and unsatisfied needs. I don't believe that really nice clothes are needs. They are wants, but there is still a market for it. My only problem with the definition is the part that talks about the consumer having unsatisfied needs because without needs, there can still be a market for the product.
No comments:
Post a Comment