What do these terms mean ?

Social Entrepreneurship Course

Dr. Ira Kaufman 2012

Social Entrepreneurship • Social entrepreneurship means

identifying or recognizing a social problem and using entrepreneurial principles to organize, create, and manage a social venture to achieve a desired social change.

Social Enterprise• A social enterprise is an organization that

applies commercial strategies to maximize improvements in human and environmental well-being, rather than maximizing profits for external shareholders. Social enterprises can be structured as a for-profit or non-profit, and may take the form of a co- operative, mutual organization, a social business, or a charity organization.[1]

What is Strategy?• Elements of Strategy

– Why– What – How– Who – Where

• Integrated and Sustainable

Think Thru Strategic Lens “Strategy is the direction and scope of an

organization over the long-term: which

achieves advantage for the organization

through its configuration of resources within a

challenging environment, to meet the needs of

markets and to fulfill stakeholder expectations”

Marketing

• Links the business with customer needs and wants in order to get the right product to the right place at the right time both efficiently and profitably

• Facilitating and consummating exchanges

Social Marketing• Social marketing is the systematic application

of marketing, to achieve specific behavioral goals for a social good. (while "commercial marketing" the aim is primarily "financial“ goals).

• include asking people not to smoke in public areas, asking them to use seat belts, or prompting to make them follow speed limitsl

Peter Drucker Grandfather of Marketing

• "The purpose of a business is to create a customer."

• "The aim of marketing is to:– know and understand the customer

so well the product or service fits him and sells itself.“

– to make selling unnecessary.”

Marketing VS ?

Marketing–meet customer needs; get return value

• Promotion-keeps product in customer’s mind• Public relations- ensures a strong public image• Publicity- mention in the media.• Sales -cultivating leads in a market segment;

conveying value and closing the sale

Traditional View of Marketing 4Ps

4Ps

Value Creator Customer

Product

Place ( offline)

Price ($,)

Promotion

Marketing 2.0

5Ps

Value Builder - Company - Employer - Partner - Customer

User

Product (WEB2.0 Brand)

Price ($, time, ease)

Promotion (Integrated Marketing)

Job Seeker

Thought Leaders

Participation (Conversations)

Place (online, offline)

Publisher

Marketing 3.0

6Ps

Value Builder - Company - Employer - Partner - Customer

User

Product (Digital Brand)

Price ($, time, value)

Principles (missions, values)

Job Seeker

Thought Leaders

Participation (sustainable relationships )

Place (online, offline)

Publisher

Global Networks

Promotion (Integrated Marketing)

Broad Data

What is a Brand?

• A name, term, logo, design, symbol, personality, values or any other feature that identifies one seller's good or service as distinct from those of other sellers. A brand may identify one item, a family of items, or all items of that seller.

• Branding A brand is a customer experience represented by a collection of images and ideas.

• .

What is your target market? 

• B2B ="Business to Business" A business that markets its products or services to other businesses.

• B2C = "Business to Consumer" A business that markets its services or products to consumers.

• C2C= “Consumer to Consumer” Brand Champions market “their brand” to their global network

• Demographics – age, gender, community, like style education, media usage determine segments

Value Proposition

• “sum total of benefits a customer is promised to receive in return for his or her custom and the associated payment (or other value transfer).“

• what organization does, who are their customers/markets, what is unique, what is promised and how do their products make a difference/measurable results

CRM – Customer Relationship Management

• Customer relationship management (or CRM) seeks to create more meaningful one-on-one communications with the customer by applying customer data (demographic, industry, buying history, etc.) to every communications ( e.g., le.

customer responds to an ad, visits a web site, or requests customer service.

Return on Investment ROI

• Evaluate the efficiency of an investment(s) To calculate ROI, the benefit (return) of an investment is divided by the cost of the investment; the result is expressed as a percentage or a ratio.

ROI= (Gain from investment – Cost of Investment)/ Cost of Investment

Dictionary American Marketing Association

• http://www.marketingpower.com/_layouts/Dictionary.aspx