Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall A High-Risk Venture Large Corporations Have Failures La Choy Egg Rolls Kellogg’s Ensemble.

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Presentation transcript:

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall A High-Risk Venture Large Corporations Have Failures La Choy Egg Rolls Kellogg’s Ensemble Peugeot 607 Automobile

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Advantage—Less Bureaucracy Disadvantage—Lack of Financial Backing

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Recognize a Need Improve Existing Products Combine Industry Recognize Trends Be Aware of Everything Question Assumptions Name It first; then Develop It

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Do Adequate Market Research Satisfy a Need Have a High Product Advantage Get Quality and Pricing Right the First Time Use the Right Channels of Distribution

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Direct Marketing Wholesalers Agents

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Consumer or Industrial Market Location and Number of Customers Product Characteristics Entrepreneur’s Resources Competitor’s Distribution Channels

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Proof of Demand Minimum Inventory Levels Minimum Advertising Levels Slotting Fees

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Excludes Others from __________ the Invention. Making Using Offering for Sale Selling Importing

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Utility Design Plant

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall For New, Useful... Processes Machines Manufactured Articles Improvements

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall For New, Original, and Ornamental Designs of Manufactured Articles

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall For New Varieties of Plants

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Circumvent Patents with Minor Product Changes Ideas are not Patentable Fighting Infringement is Costly No Protection of Infringement Claims by Others No Protection in Foreign Countries

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Protects “Original Works of Authorship” Literary Dramatic Musical Artistic Software

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Used to Identify a Company’s Goods Word Name Symbol Device

Lambing/Kuehl, Entrepreneurship, 3e©Pearson Education/Prentice Hall Confidential Company Information Theft is Subject to Federal Criminal Action