Entrepreneur Chapter 9 and 11

The act of a high-quality individual agreeing to serve on a company's board of directors, which indicates that the individual has the potential to be successful.

Situation that often causes new firms to falter because the people who start the firms can't adjust quickly enough to their new roles, and because the firm lacks a "track record" with customers and suppliers.

The set of assets and liabilities that is linked to a brand and enables it to raise a firm's valuation.

A program that protects the image and value of an organization's brand in consumers' minds.

The process of studying the industry in which a firm intends to compete to determine the different potential target markets in that industry.

The limited group of individuals or businesses that a firm goes after or tries to appeal to at a certain point in time.

The set of controllable, tactical marketing tools that a firm uses to produce the response it wants in the target market; typically organized around the four Ps -product, price, place, promotion.

A new marketing technique that facilitates and encourages people to pass along a marketing message about a particular product or service.

A low-budget approach to marketing that relies on ingenuity, cleverness, and surprise rather than traditional techniques.

A place within a large market segment that represents a narrow group of customers with similar interests.

An early user of a firm's product who is willing to give a testimonial regarding his or her experience with the product.

A phrase that is used consistently in a company's literature, advertisements, promotions, stationery, and even invoices to develop and to reinforce the position the company has staked out in its market.

An awareness and sense of anticipation about a company and its offerings.