Trademark History

My favorite brand is Ralph Lauren Polo because it can be casual and formal. Ralph Lauren Polo was founded and trademarked 1967, in New York. He started his business with a brand of mens ties in the catergory mens apparell. The logo he chose was a man on a horse playing the sport polo, and in the middle of swinging his polo stick. What makes this brand so unique is that you can wear it casually or to a businesss meeting as formal wear. Also if you are wearing this brand of clothing, anyone and everyone knows what your wearing and where it came from.

THE BIG IDEA SERIES #1

All of the entrepreneurs we learned about today had many things in common. They all had a drive to make money and be a successful independent entrepreneur. All of them also stuck to things they loved to do, which helps a lot when it comes to running a business. Most of them started off by picking something they were missing in life or a problem. I think there are many disadvantages of becoming a young entrepreneur. The people we learned about in the video started in a different day and age, then we have now. It would be a lot harder to start a business at a young age now then it used to be. I think just by the simple fact of being younger, people look down on you and look at you as more naive. For Ryan Blair and Cameron Johnson this was a much different case, they were wiser than many older people and knew what they wanted in life. Another disadvantage is getting the money to support your idea or to get your business started. I found Series #4 more interesting because he started at such a young age and knew what he wanted. I could never imagine a kid at 5 years old starting there own business and making money. By 12 years old he was making over $50,000, that is amazing! As a young kid he had an amazing drive and knew what he wanted, that is what made him stick out to me the most. I think that P. Diddy's business will last the longest out of all of them. I say this for many reasons. P Diddy has the biggest empire out of all of them. He is also very famous and known by many people worldwide. Also in this day and age music is so big that the kind of business he has chosen isn't going anywhere! There's plenty of people he can find to continue his legacy. I would've gone with the pretzel company, but because in that kind of business you can have so many knock-offs. Knock-offs are cheaper versions of there product, which in the long run will cut down the money there making because people are more inclined to buy the cheaper product in this economy.

Advantages disadvantages

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Market Research Analysis

Market analysis 3

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Market Research Analysis

http://www.kwiksurveys.com/?s=OIJEOK_e381f82

The purpose of this survey is to find out what my customers want and get some feedback from them. This survey will help my business and will affect how I run my business. It will help me get a headstart on my business.

Market Research

Market research is an essential part of any business that wants to offer products or services that are focused and well-targeted. Business decisions that are based on good intelligence and good market research can minimize risk and pay dividends and by making market research part of your business process. By collecting data on factors that affect your business, you already have a head start on your competition. You can also collect data on your competition, and see who’s the customer favorite and see who is in the bottom of the food chain. Ultimately, collecting data on anything can help any situation but in the business world in can be a huge difference from your business being a huge success, to it being a huge fail.  

REFLECTION ON CHAPTER 3

I have learned a ton of interesting and valuable information in Chapter 3! I learned the eight entrepreneurial trends. The eight entrepreneurial trends include, internet business, home based, strategic alliance, social responsible non-profit business, corporate ventures, services, outsourcing and focus on technology. They all differ from each other in how they are made, how they are run, where they are run, and many other ways; but together they make up the business world and they all have their own effect on the society they are in. I learned the difference between a franchisee and a franchisor. The franchisee is the buyer of the franchise, while the franchisor is the seller of a franchise. They have many similarities and difference which I learned thanks to the vin diagram. I also learned about trade magazines, trade shows and specialty magazines which are all huge parts of the business world! They are magazines based on the business world that let you know what is going on and can keep you updated. I learned that demographics are personal characteristics that describe a community. The main point I really learned is this chapter is all about the “franchise”. I never knew any of this information before taking this class. A franchise is a legal agreement to begin a new business in the name of a recognized company. It’s a quick way to start your own business without all of the other obstacles you have to deal with, when starting a business from scratch. The only down fall is that you aren’t your own boss because your just taking ownership of a store but you still have a higher power to answer too. Over all, this was one of my favorite lessons yet and I thoroughly enjoyed learning more about the business world!