Monday, 11 October 2010

Lecture 3 - 11.10.10

Value.
What are you worth?

Drucker - "both invention and entrepeneurship demand creativity"

Mihaly - "creativity is the act of seeing things that everyone around us sees while making connections that no-one else has made"

Kotler - C - creating.
C - communicating
D - delivery
V - value
T - to a target market
P - profit.

Where is the money?

the greatest amount of money & biggest market potential is in:
. food industry
. housing
. utilities
. medicine
. transport
. construction
. insurances
. water
. new technologies

Physiological needs: these needs will bring the biggest market because they are the essentials that everyone needs in life, and can't live without, so will always be in the industry.

47% of an average households income in spent on housing & food.

Value Proposition

Overall aim/mission: the thoughts & ideas of what you want to do.

Specific aim: how they wants to do something: educate, inform etc.

Objectives: how they are going to do it specifically.

An example would be..

Overall aim: I want to give lucy a 21st birthday she will always remember.

Specific aim: It has to be different stand out from others, can't be average & i want people to be able to take things home.

Objectives: The party will be at .. At 9 o'clock, with this and this and will last till 2 and then everyone will go to O2 academy afterwards in a mini bus.

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