+44-1518-081136Editorial - Journal of Finance and Marketing (2020) Volume 4, Issue 3
Market Analysis of Business Management and Entreprenuer
Entrepreneur notifies about an entrepreneur, who is a person who leads the organization in the market no matter how many competitors will come later but their position will remain untouched. Starting a business generally requires business concepts, ideas, service new technology, People for support, a process by which service or product will be delivered, money to run all activities. He is also called as Business man, who starts or develops new enterprises by taking all other necessary resources together for the production He tries to transform an idea into reality by using available resources. The role of the entrepreneur is very vital with full power and authority in the business. Whereas, Management is focusing on business objectives and see that the work has been done as per plan. Management is an individual person or group of people that accept responsibilities to run the organization. It is responsible to focus on business objectives and see that the work has been done as per plan.
Entrepreneur illustrates about the Brand management, which is a function of marketing that use techniques to increase the perceived value of a product line. It is the development of brand perception in the market. Effective brand management enables the price of products to go up and builds loyal customers through positive brand associations and images or a strong awareness of the brand. Constructing a positive relationship with the target market is vital for brand management. It also encompasses all aspects of the customer’s brand association and relationship with the purchasing process, which includes tangible elements of a brand. Developing a strategic plan to maintain brand equity or gain brand value requires a comprehensive understanding of the brand, its target market, and the company’s overall vision.
Entrepreneur explains that Open Innovation is defined as the use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation. Once the innovation is opened, the organization’s boundaries become permeable and that allows combining the company resources with the external co-operators. Open innovation is basically an alternative to this conventional method of doing innovation where information has to stay within present confines. It is based on the belief that knowledgeable and creative individuals outside the company can also contribute to achieving strategic goals and that sharing intellectual property both ways is useful for different parties in different ways.
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A market analysis is a quantitative and the qualitative assignment of a market which checks both value and volume size of the market, different customer segments buying competition and the economic environment. According to the April World Economic Outlook report, US increased benefits on Chinese reports by rising tariffs on a subset of US imports. Global growth in 2019 gradually decreased to 2.6% by reflecting the trade and investments at the beginning of the year. This growth may be increased to 2.8% by 2021 by its financial conditions and recovery in emerging market and developing economies. The risks to the forecast are to the downside as they include further trade and technology tensions that results in slow investment and increase in the risk of financial vulnerabilities continue to gain after years of low interests.
Author(s): Sali Bakare