May 16, 2022

3.1. Marketing Functions and strategies Marketing consists of a multitude activities that include decisions about the company’s Products or services Pricing policies Promotions and Distribution methods. The ultimate equal is to facilitate exchange between an enterprise and its customers. This exchange relationship exists as one party becomes willing to give something of value in order to receive something of value. Marketing is the process of conceiving than exchange and then accomplishing the tasks necessary to deliver t he goods or services in a manner that satisfies customer and meets the business objective. 3.1.1 Marketing Functions Is the combination, designing and integrating all elements of marketing into various functions which on the basis of an appraisal of the market forces would achieve the objectives of an enterprise at a given time. Marketing functions include: The product – involves the planning, designing and developing the right type of the product in order to meet the customer’s satisfaction. It includes. The packing of the product The image The brand name and label The product The product quality The product range The product output The product warrantees and after sale services The product policy The product The price– involves giving value which is charged by the suppliers. This is an important element of marking because; It relates directly to the generation of revenue Measures the profit cost and revenue elements. Affects the product quality and quantity Has a psychological impact on consumers. The placement – also known as distribution is concerned with linking the seller and buyer through the product and involves elements of Inform potential customers To convince and persuade existing customers to continuer choosing the product To establish a business image or good will To canter competition from other business dealings To increase sales and revenue. 3.1.2 The marketing strategy This is a consciously formulated plan that describes how the new venture will compete. It focuses the business enterprise on a target market to fill the gap or create a nitche. A well calculated marketing strategy provides guidelines for the entrepreneur concerning-: The expected results Allocation of resources Responsibilities for marketing Ways of controlling the enterprise. 3.2 The marketing Plan Solidifies the marketing strategy by defining customers, sales forecasts and marketing objectives. It synthesizes market research and the entrepreneurs strategy into a blueprint for action. The plan is implemented through a marketing programme, which addresses the marketing activities decisions regarding product, the pricing, the promotional activities and the placement activities. 3.2 The Marketing Mix The term marketing mix refers to the apportionment of effort, combinations, designing and intergration of all elements of marketing into a single programme aimed at achieving the objective of a business enterprise. It is a detailed strategy, tasks, operations policies programmes, techniques and activities to which resources may be allocated to achieve marketing objectives. The term is used to describe the combination of the four inputs which constitute a marketing system ( 4pcs) i.e The product The price The placement The promotions 3.3 The 4 Ps (the four Ps) The marketing mix denotes a combination of the various elements which in their totality make up a marketing system i.e. the product, the price, the placement and the promotion. 3.3.1 The Product The product element of the marketing mix involves the planning, designing and developing the right type of the product or service to meet the customer satisfaction. The main decisions involve-;. The product involve The product size The product quality The product design The product range The product volume The product packaging The brand name and label. The product warranties and after sale service. The product element of the marketing mix strives to establish. A product policy The product strategies The product mix 1. A product Policy. The product policy is a principal of operation on the production process of a given product adopted by the management to guide those who carry out the action. A product policy sets out the objectives to be achieved and also the limits within which the management has to operate. The main functions of a product policy are to guide the activities of the firm towards its common goals which include. Considerations of the product mix Considerations of the rate nature and direction in changes in demand Product elimination and new product dev. The product policies engage in product planning development ,production marketing , volume of production , timing e.t.c 2. Product Mix A product mix lists all products offered for sale by a company which details three diminutions of a product – namely; The product breadth The product depth and Consistency The product breadth- is measured by the number of variety of products manufactures by a single firm e.g – the Panasonic company – making TVs fridges radios DVDs e.t.c The product consistency – refers to the close relationship of different product line either to their end distribution channel e.t.c e.g. the Toyota Company – produces those goods which fall under motor vehicles – consistency is seen- unlike unilever. The product depth- refers to the assortment of size, colour and models with each line e.g the Toyota car. 3.3.2 The Price Pricing the product is an important element of the marketing mix. Price is the value or sum of money which is charged by the supplier of a product or service from the buyer. The financial price is the measurement of value and has the following importance. economic value- because it relates to the generation of product revenue. Profits – through price profit cost and revenue elements are measurable. Product quality – price gives indication of the product quality. The psychological element- price has a psychological influence in the market i.e high prices co-relate to superiority. Co-oporate goals- are achievable through pricing decisions especially in formulating marking strategies Meeting consumer expectations is measurable through price. 3.3.3 Placement Also known as distribution of goods physically. This component of the marketing mix is concerned with linking the seller and the buyer. It involves the elements of The channels of distribution The transport

2.1 Procedures of Starting a Business Identification of a business idea Development of a business plan Location of a business demand evaluation Registration of the business Choice of the business organization Business name Trading licences / permit Start-up and management of the business. All entrepreneurs are business people – though not all business people are entrepreneurs. Entrepreneurs tend to be more innovative than ordinary business people and end up developing a business plans. 2.1.1 Means of Generating a Business Idea identifying a need brainstorming building on ones skill, hobbies or interests spotting a market niche listening to what people say attribute listening gaining from waste look to see and listen to hear research importing an idea day dreaming Spin off from employment. 2.1.2 Identifying a Need A need can be an opportunity and indeed a consumer buys to satisfy need. Abraham Maslow in his humanistic hierarchy of needs, physical needs to very high personalized needs. Therefore identifying an unidentified or unserved need is a sure way of generating business ideas. 1. Basic or physiological needs The first and the most basic need such as thirst hunger and sleep – in the process of satisfying these needs, entrepreneurs can generate a lot of business ideas- such as cloth stores, food stores, building materials etc. 2. Safety and security needs Human beings require these and entrepreneurs can generate ideas in the process of satisfying them e.g security, watchmen e.t.c. 3. Social needs Generally speaking to need should be accepted in the society e.g membership clubs, beauty clinics et..c 4. Self esteem or ego the need only needs recognition e.g need for luxury cars cellular phones e.t.c 5.self – actualization The need to prove the ability in one’s self i.e self fulfillment – research institutions opportunity to do something in one’s ability. 2.1.3 Brain Storming This is a process of detaching analysis of an idea from the actual ideas. The idea may or may not be related to a given product. In brainstorming even silly and stupid ideas may be generated. 2.1.4 Building on One’s Skill, Hobbies or Interests business ideas can be generated through personal interests and hobbies Copying or improving somebody’s ideas. ( skills) 2.1.5 Sporting a Market Niche Entrepreneurs usually look for gaps in the growing markets, identifying market sections which are not being utilized. 2.1.6 Listening to what People say. These are people who simply say or speak their needs e.g if these good bus services 2.1.7 Attribute listening This method of generating business ideas is based on changing the way one looks at something in order to fins a new use for it. It attempts to answer the question – what do we do with this product. 2.1.8 Gaining from Waste What would appear waste can be used- say recycles to create a new opportunity. 2.1.9 Others By soliciting ideas by interview, reading, observations, listening 2.2. The Process of Screening a Business Idea. After generating business ideas- it is important that some evaluation through a screening process be made. The screening process is a systematic evaluation ideas in order to select the best idea which would suit one. The screening process must be done carefully, objectively, soberly and without any emotions. The business idea screening is required even when there is only one idea to consider. This is because this is a stage of starting a business that may be not be profitable or may be difficult to run. The screening process must therefore evaluate the following 1. Personal Evaluation the objective for going to business personal interests The degree of commitment to the business or others e.g family. Personal Skills 2. The self SWOT analysis – this aims at analyzing ones Strengths Weaknesses Opportunities Treats This will help achieve the desired goals- the S- Relates to the internal capacity of self or organization W- Are subjective O- Relates to the external environment to self or organization T- Are objective. 2.2.1 The Importance of this Screening Stage include; In order to develop a strategic profile. To provide a framework to assess the current and future plans To act as a control technique when conducted periodically To get realization ( reality) on the activities The SWOT components Strengths – these are positive internal conditions such as Distinctive competence Adequate finances. 2.2.2 Components of the SWOT Analysis (importance of self evaluation) The screening process or evaluation helps identify; 1. Strength Distinctive competence Adequate finances Access to economies of scale Good innovation ability Proven management 2. Weakness Lack of key skill Internal operations problems Low morale Poor track records Weak internal image 3. Opportunities Potential customers Potential goodwill Health A favourable social 4. Threats strong competitions Adverse government policies Political instability A designed economy mismanaged economy Unfavorable legislation Market evaluations The aim is to create assurance of adequate market The main components include Consumer demand analysis Product price and placements No. of competitors in markets. An analysis of availability of raw materials in terms of Adequacy Reliability Price Analysis of providing technology in terms of Appropriateness Affordability An analysis of skills available Analysis of the government policies. 2.2.3 Characteristics of a Good Business idea. Easy to manage and involve minimal risk. Does not require excessive capital investments Offers a good returns on capital The idea has scope for growth, expansion and diversification Comparative with owner’s goal and interest Not against expectation of the society Has a short gestation period Has a readily available market Easy to exit when necessary. 2.3 The Generation and Sources of Business ideas Generalization of business ideas Entrepreneurs have the ability to see opportunities in whatever environment they happen to be They are sensitive to people’s needs They use people’s problems as opportunities of a business The entrepreneurs can use several methods to help generate and test new ideas. 2.3.1 Methods of Generating ideas or Business Opportunities Focus groups – i.e where a moderator leads a group of peoples though an open , in –depth discussion through which new ideas are shared. Apart from generating new

1.1.1 Definition of Entrepreneurship and Entrepreneurs Definition an entrepreneur An entrepreneur is basically a person who identifies a business opportunity, harshness and obtains the resources necessary to initiate a successful basis activity. The entrepreneur implements the idea Undertakes to operate the business  An entrepreneur is therefore a central key individual in the society who makes things happens for economic development. Entrepreneurship meaning In the broader sense entrepreneurship refers to the means of stimulating innovative and creative undertakings for a better business community or world. Entrepreneurship if French world meaning to undertake and focuses on a business enterprise Entrepreneurship can exist in any situation – therefore it is the creation of values through establishing a business enterprise. Entrepreneurship means having an idea of ones own and trying to implement the idea to create values on it. Entrepreneurship is a term which encompasses what entrepreneurs do i.e Identifying a business opportunity of a particular demand Look at the opportunity as a process of creating, something that did not exist. Constantly searching/ harnessing ones environment and resources to implement the activities. Creating a totally new product and using it in as new. Entrepreneurship there is the practice at starting of a new business or revitalizing existing businesses in response to identifying opportunities. 1.1.2 Types of Entrepreneurs 1. Craft entrepreneurs Exploits and utilizes personal skills to start a business without thinking of its growth or the expansion objectives Often times than in this type of entrepreneurship There is no expanding even after along time It is not business expansion oriented. The skills can be technical skills, professional skill e.t.c 2. Opportunistic entrepreneurs This is a person who starts a business, acts as a manager and with a view to expand the business to maximum. He might not have the sill to profession but he has the opportunity to start and direct others. He sees beyond and has abilities to initiate and venture into business that will expand and grow. He is innovative I,e somebody able to delegate activities to others , ready and able to see, scan the environment. 1.1.3 Entrepreneurship Entrepreneurship looks at particular individuals in a business set-up. It operates in large business or organization which is business minded to make profit. Entrapreneurs operate autonomously for the welfare of the organization. The term Intra – refers to within – therefore Entrapreneurship is a process whereby an individual or group within a large organization creates something new or different to maximize on the available opportunities to that organization. Intra can therefore be equated to entra within the context of a large organization where the workers are a leeway to be creative or innovative on their own. They become competitive, socially and economically the idea is to allow individuals within the organization to act and think independently. 1.1.4 Entrepreneurial Behavior Several theories have been developed to explain why entrepreneurs behave the way they do. There has been debate on whether entrepreneurs are born or made Born-hereditary, entrepreneurs are environmental influenced by where they are born. These are; 1. Economic The theory explains entrepreneurial behavior as influenced by economic factors through which. It is possible to introduce new methods It is possible to find new sources of materials It is possible to open new markets The economic prospective is important since they create enabling environment for the entrepreneur to combine the factors of production. 2. Psychological factors The theory states that entrepreneurs have unique values, attitudes and needs within which drive them. It is mostly concerned with personality traits as the main determinants of entrepreneurial behavior People are likely to become entrepreneurs because of high liking of say. Independence Attitude Need to satisfy certain needs. 3. Sociological factors Maintains that environmental factors such as beliefs, culture, social structures determine entrepreneurial behavior. 4. Management factors Emphasizes on the organization of resources in a specific way to attain profits Leadership impacts on behavior and facilitates pioneership, achieving of goals and provides vision. 1.1.5 The Functions of an Entrepreneur The bearing of uncertainty is the primary function of the entrepreneur i.e losses or profits. The management of the business enterprise can delegate Provision of risk capital and invention. Identifying gaps in the market and turning such gaps to business opportunities i.e to initiate a business. Financing the businesses, through raising and mobilizing the necessary resources to exploit opportunity. Searching for business opportunities through environmental scans. Mobilization of resources needed to start and run a business e.g. from Personal savings, Friends & relatives and Financial institutions e.t.c Evaluation of business opportunities to access viability and any other benefits that might accrue to the business. Provide the necessary leadership for the business and those working in it. 1.1.6 The Characteristic of a Potential Entrepreneur. 1. Initiative and risks taken by; Doing things before being asked or forced by events Acts to extend business in to new areas products etc Sees and acts on opportunities Looks for and takes action on opportunities. Sees and acts on new business opportunities 2. Persistence and patience through Taking repeated action to overcome obstacles Taking action to overcome obstacles Taking action in the face of significant obstacles. 3. Information and property seeking Takes action on his own to get information to help reach business objectives Does personal research on how to provide a product or service Consultation of experts on business and technical advice Asks questions to clarify information Undertakes market research analysis and investigation. 4. Concern for high quality work by Acting to do things that meet or beat existing standards A desire to produce and sell top and better quality products or services Compares own work favorable to other. 5. Commitment to work contract by Placing the highest priority on getting the job completed. Accepts full responsibility for problems that may arise in getting the job done Expresses concern on customers satisfaction. 6. Efficiency orientation by; Finding ways of doing things faster and cost effectively Uses information to improve efficiently. Express concern on costs improvements change etc. 7. Systematic planning by developing

ATTRIBUTES OF ENTREPRENEURS AND ENTREPRENEURIAL CAREERS NOTES – Click to view EVALUATING ENTREPRENEUAL OPPORTUNITIES NOTES – Click to view MARKETING REQUIREMENTS ASSESSING AND SELECTING A SUITABLE MARKET NOTES – Click to view ORGANIZATIONAL FORMS NOTES – Click to view RESOURCE NEEDS FOR ENTERPRENEURSHIP NOTES – Click to view BUSINESS PLAN DEVELOPMENT NOTES – Click to view CURRENT ISSUES IN ENTERPRENEURSHIP NOTES – Click to view

PERSUADING SPEECH Purpose of speech to persuade is to change. Create or reinforce attitudes or behavior. Persuasion is the process of changing listener’s beliefs or moving a listener to action. Persuasion is a form of influence; it’s the process or guiding people towards the adoption of an idea attitude or action by rational and symbolic means. It’s a strategy of problem solving relying on appeals rather than force. Techniques of persuasion 1. Thinking To be our effective persuasive speaker, you need to develop a number of different types of thinking skills related to making judgment and decision. Thinking skills. Perceiving – Ability to listen and observe to compare and contrast your observation so as to organize and interpret them to understand how you own point of view influences your perceptions. Arranging – Your ability to group your perceptions classify them discover pattern in them and place them in order of importance. Enquiring – Your ability to ask questions about and analyze meaning of your perceptions. Interring your ability to recognize, underlying assumptions to make generalizations to understand cause effect relationship and make predictions. Reasoning – your ability to make decisions and arrive at judgement. 2. Using appeals to logic Start by clarifying the specific purpose of the speech. This is position of your speech. Support your speech with logical argument. The arguments should rely an objective information instead of personal preference or opinions. Each logical argument must be supported by evidence, factual examples, statistics, exports, testimony or other specific details about the argument logical arguments are made using. Inductive reasoning We begin particular facts and proceeds to larger general conclusions based on these facts. E.g. if we taste a number of hard greed apples and find that they are sour, we are likely to conclude that apples are green and are also sour. Deductive reasoning We begin with general statement know to be accepted as true and proceed to particular facts that logically follow form these general statements e.g. All citizens have the right to vote women are citizens, they have the right to vote. Make general statement is true, then make sure the 2nd part fits into the generalization made by 1st statement. Preparing a persuasive speech based on logical appeals. Select a topic narrow enough to be covered within allotted time. Find out what positions people hold in this topic. Research the arguments supporting and opposing each position. Decide on your position and write it as a thesis statement. Analyze your audience, its background interests and prejudices. Complete your research using a variety of reliable resources. Decide which arguments and what kinds of supporting evidence will be most effective with your audience. Outline the main arguments of your speech and evidence you will use to support each argument. Outline the arguments and evidence you will use to counter position others may take. Decide what visual aid will make your speech more effective. Prepare introduction and conclusion of your speech. Prepare notes for your speech and practice it alone. Practice your speech before at least one other person, ask the person for his response. Revise your speech in accordance with the person’s response. 3. Using Appeals to Emotion Use your body language to emphasize appeals to listeners emotions. Emotional appeals are based on. Physical needs Involve the life and health of individual’s body e.g. need for food and need for physical pain. Psychological needs Involves an individual’s inner life e.g. need for love and need for self respect. Social needs Involves an individual relationship with a group e.g. need for freedom, need for status and power and need for acceptance by others. You need to consider your specific purposes and you want to be certain that each appeal you choose will lead your listeners to accept the position stated by your thesis rather than formulate arguments against it. You need to know your audience most important needs, their interests and fears. If you misjudge your audience, your appeals to their emotions will not be persuasive then use a contest and statement that appeal to specific emotions and that will sway your listeners in favor of your position. Use vivid language and a more intense tone of voice and gestures. Avoid unfair and dishonest persuasive techniques such as telling lies or half truths, calling names, using absentees and making irrelevant personal attacks. 4. Using identification When you give a persuasive speech you should encourage your listeners to regard it as a person who can be trusted and believed. You will want them to belief that you are a person like them, at other times you will want them to know that you are an expert in the topic whose knowledge will benefit them. Ethical appeal (ethics is an appeal to an audience to identify with and trust the speaker) Guidelines to identification with the audience Establish your own credibility At the opening part of your speech is on need to make it clear that you have been well informed about the topic e.g. what you have done to establish your expertise or you simply let your words talk on your behalf. Evoke the good will of your listeners Persuade them that you share common interests with them and that you are sincerely committed to those interests. You can also evoke goodwill by complimenting the audience on its positive varieties and by identifying with a person the audience admires. Speak with genuine self confidence and enthusiasm Your voice, posture, gestures and other non verbal areas communicate your enthusiasm as much as your words do. 5. Using identification with appeals to logic and appeals to emotion. To use the 3 combined you need to keep the following points in mind. Be sure each logical argument directly supports your thesis and will be understandably by convincing to your audience. Use appeals to emotion in presenting main points based on basic human, physical, psychological or social needs. Be sure each appeal to emotion directly supports your position and will be understandable by and

LIBRARY OF CONGRESS CLASSIFICATION. The library of congress classification system was first developed in the late nineteenth and early twentieth centuries to organize and arrange the book collections of the library of congress. The system was adopted for use by other libraries especially large academic libraries in the United States. It is still one of the most widely used library classification systems in the world. The system divides all knowledge into twenty – one basic classes, each identified by a single letter of the alphabet. Most of those alphabetical classes are further divided into more specific subclasses, identified by two-letter or three – letter combinations. For example, class N (AH) has subclasses NA, architecture; NB, sculpture; ND, painting; among other several subclasses. Each subclass includes a loosely hierarchical arrangement of the topics related to the subclass, going from general to more specificity. Individual topics are often broken down to specific places, time periods or bibliographic forms. Each topic, also referred to as a caption, is assigned a single number or a span of numbers. Whole numbers used in this classification may range from one to four digits in length and can be further extended by the use of decimal numbers. Some subtopics appear in alphabetical rather than hierarchical, lists and are represented by decimal numbers that combine a letter with a numeral such as c 85 or J901. Relationships among topics in the library of congress classification are now shown by the numbers assigned to them but by indenting subtopics under the larger topics that they are a part of. This makes it different from other more strict hierarchical classification systems such as the Dewey decimal classification where hierarchical relationships among topics are shown by numbers that can be continuously subdivided. The following are the basic classes of the library of congress classification system.  General works  Philosophy – psychology religion  Auxiliary sciences of history  World history and history of Europe, Asia, Africa, Australia, New Zealand, etc.  History of the Americas  History of Americas  Geography. Anthropology. Recreation  Social sciences  Political Science  Law  Education  Music and books on music  Fine arts  Language and literature  Science  Medicine  Agriculture  Technology  Military Science  Naval Science  Bibliography. Library science. Information resources (General)

INTRODUCTION All communication is affected by the non-verbal communication that accompanies it. Over the telephone the tone of voice conveys nuances of meaning. Face to face expressions, gestures and posture play an important part. We use demonstrations and models to supplement words visual aids to clarify lectures and maps, diagrams, charts and graphs to enhance both spoken and written communication. Non-verbal clues often conveys more than verbal communication. Nature of non-verbal Communication Can be divided into: Body language (kinesics) Vocal tone Space (Proxemics) The senses and time 1. Body Language Posture:- This is the way we stand or sit in relation to others or objects, and the position of the head and hands. Example a dejected person tends to slump shoulders bowed and held low, while arms crossed and held tightly in front indicates defensive mood. Gestures Using our limbs especially hands and shoulders to convey messages. For example you can call some one by beckoning him using your hands. Facial expressions Using the cues of the face to send signals such as an up turned lip and a twinkle at the corners of the eyes may show friendship. While pouting lips may indicate boredom Position Where we stand or sit in relation to objects and the persons we are communicating with. Example a lady behind the desk especially if wearing office dress may indicate that she in charge of the office and the gentleman infront of the desk may be taken to be the client. Much of body language is involuntary or unconscious When we look puzzled, twist a pen nervously in our fingers, sprawl in a chair or run upstairs we convey all sorts of obvious and sable messages. Some people are more skilled than others in hiding these involuntary signs. We need to make efforts to avoid giving an unfavourable picture of ourselves to others and to avoid letting them feel that we are reacting unfavorably to them. 2. Vocal tone Vocal tones, stress and emphasis bring out the difference between spoken and written words for example an explosively interrogative – what? Accompanied by a look of intense disbelief may be written as:- What are you saying? Can you really mean that? I have the utmost difficulty in believing you – in fact I don’t believe you. Our intonation can change a reprimand into a joke or an inoffensive phrase into a deadly insult. 3. Space Each person has an individual spatial relationship with another. The less necessity there is to keep them at a distance. In warm countries people tend to move nearer to slight acquaintances to which they are talking to show friendship. In cooler and more reserved countries, the space is retained as a defensive barrier until friendship is firmly established. Space is also used to create other impressions such as status. The bigger the office, the bigger the desk or the company car the more important the position of the executive is seen to be. 4. The senses Sight, hearing, touch and smell & taste each play apart in non-verbal communication. 5. Sight Enables us to receive non-verbal communication and to observe & react to the appearance and cloths and objects surrounding them. Habits and idiosyncrasies for insurance whether their desks are tidy or jumbled. 6. Sound A sigh, a laugh the constant clicking in & out of the top of a ballpoint pen atimid knock on the door. All give us indications about people and add to the communication process.