Entrepreneurship – the process of seeking business opportunities

Intrapreneur – employee, working for company, use resources of company

Entrepreneur – own business, use own resources

- Be close with your employees. Make employee and customer to be happy to be success in your
company.
- Customer, people, hiring, thinking future, problem is opportunity

Big Ideas, opportunities come from

- problems

- improving existing/old product/services

- Be inspired by nature (using bamboo straw instead of plastic straw)

- Brainstorming

- Passion

Customer can be source of ideas. Think others’ requirements, think environments

Innovations (9 types)

- Service (Grab)
- Business Model (Airbnb)
- Disruptive (Motorola)
- Breakthrough (Tesla – electric car)
- Organization (shop.com.mm)
- Outcome Driven (Call Center, outsource accounting)
- Incremental (Apple)
- Product (Drone)
- Process (Yangon Door to Door)
Mobile Marketing Solutions (Digital Marketing)

After knowing the opportunity (problem)

- What is product or service being offered?

- Who is the target customer?
o Customer – people who buy the product. / Consumer – people who use the product.
o Population

Marketing Management Process Step

1. R = Research
2. S, T, P = Segmentation, Targeting and Positioning
3. M = Marketing Mix (4 P)
4. I = Implementation
5. C = Control

1. Research - without research, like a blind man

2. Segmentation
a. Geographic - dividing the market into geographical units (nations, regions, etc
b. Demographic - Age & life cycle, life stage, gender, income, generation, social class
c. Psychographic - Decision Roles
i. Initiator
ii. Influencer
iii. Decider
iv. Buyer
v. User
o Behavioral Variables
 Occasions
 Benefits
 User Status
 User Rate
- Loyalty Status - Hardcore – only one
o Split Loyal – one and two
o Shifting Loyal – one or two
o Switchers – no one

Targeting -
Socio Economic status - education, income, life style, occupation

5 homes classification

AB – upper class

C1 – upper middle class

C2 – lower middle class

D – lower class

E – extremely low class

Positioning – Price – the more expense will win in price positioning (based on product)

Porter 5 forces –

Competitive Rivalry

1.Threat of New Entry

2. Supplier Power

3. Buyer Power
4. Threat of substitution