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L08 ENGINEERING DESIGN - Coggle Diagram
L08 ENGINEERING DESIGN
Successful Biz?
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have biz plans
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eg. Goals and Objectives,Target Market / Target Users,Competitive Target Analysis (S.W.O.T. Analysis),Product Positioning (using Strategy Canvas),Marketing Mix (4P's of Marketing),Green Strategies
Goals/ objectives,
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mission
focuses on the present and near-future, and defines purpose ( more scoped, identifies certain areas that the business needs to look into)
Specific, Measurable, Attainable, Relevant, and Time-based (SMART)
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competitive analysis
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S.W.O.T. (strengths, weaknesses, opportunities, and threats)
look at external (trends, financial, impact on biz) and internal (staff,products etc)
capitalise on your competitors’ weaknesses and enhance your company’s strengths when launching and marketing your products.
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4P
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product
product difference in quality, quantity and intellectual property protection
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price
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manufacturing cost, promotional material, shipping, commissions, rental, profit margin
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