| 1.Why do entrepreneurs get in trouble with the law? Entrepreneurs must focus on what has already been innovated when trying to approach a solution to a problem for the consumers. Some ideas can be taken and implemented from another entrepreneur which is like trademarking. All approvals must take place, or they will be unable to release the product to the world to be sold and make a profit out of. Ethical behavior as well for entrepreneur is also very important because a trustworthy entrepreneur is a successful one. It allows many more opportunities, investments, and supportive customers. |
| 2. What does psychology have to do with marketing? Psychology is good at changing behavior the same as marketing when trying to market products and ideas to others by knowing human behavior. Psychology evaluates the human behavior and decision making of humans. With Marketing they frame what will be gained for the individual by knowing how to understand the audience with a better impact on presentation. When knowing this behavior for marketing the audience will have to see what they will get in return that can impact their life but also be beneficial in profit. 3. What types of marketing sway my decisions? Marketing sways my decision when I hear great reviews or see the true benefit for me to make my life easier. I Believe that influencer marketing sways my decision the most because it shows a review of a product to see if I would be interested before buying. I like to look at marketing as an expense some expenses are things that don’t benefit my daily use so with this form of marketing it allows me to know if the innovative company is legit and not false advertisement. It Is also a way to get my attention because I use my social media, Tik Tok, YouTube to see others thoughts before I purchase what is being marketed as well. |
| 4. How can I pitch ideas better? I can pitch my idea better by focusing on my audience and reasoning for the pitch before I worry too much on the investors. I need to be able to iterate how I am solving a problem that is needed by others and different from what is already invented. The best way to be able to pitch idea is having a mock example that sold to a crowd that was interested. The elevator pitch is a great way to pitch ideas in a quick meaningful, impactful way that is well prepared within 30-90 seconds. This is a way to be able to not have a long drawn-out explanation but catch the interests of others that can be involved whether that’s a partner, investor or etc. 5. What are my strengths and weaknesses in pitching? My strength in pitching is knowing how to get across my purpose in a fast way which is the elevator pitch. I can explain the goal the objective and the intended audience. My weakness is being able to go into full detail when questions are asked to get more detail into a product. I feel like I tend to let my nerves give the best of me when I am seeking for agreement on my ideas because I want to please and afraid of failure. My other weakness is knowing what to leave out of the PowerPoint when presenting my pitch and what needs to be included. |