Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Related questions
Question
Subject/Topic: Entrepreneurship
Required: PLEASE EXPLAIN THE PHOTO
![Biggest
Challenges/Issues[3,4]
1. Difficulty Keeping up with innovations or being the visionary.
With the large number of competitors emerging, it is becoming
increasingly difficult to keep up innovating. On top of that,
investors want a better product. Knowing when to change is
becoming key.
2. Harder navigating regulation and compliance. More and more
regulations and bureaucratic red tapes have emerged. Many
startups are bringing in a consultant to help with these areas
rather than trying to understand the complexities themselves.
3. Exploding data. With 90% of the world's data was created in
the past two years and managing, keeping safe and extracting
insights from the ever-increasing amounts of data your company
produces is becoming difficult.
4. Maintaining reputation is getting tougher. With sites like Yelp
or TripAdvisor, customers can voice any displeasure so much
more publicly and loudly than ever before. Businesses need to
continually monitor and maintain their online reputations.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F433333ce-a68c-4d8b-9aaf-12afa0d86173%2Fffaa9ceb-f1d7-41b5-a978-dd6b7d4a41fd%2F9u0p4q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Biggest
Challenges/Issues[3,4]
1. Difficulty Keeping up with innovations or being the visionary.
With the large number of competitors emerging, it is becoming
increasingly difficult to keep up innovating. On top of that,
investors want a better product. Knowing when to change is
becoming key.
2. Harder navigating regulation and compliance. More and more
regulations and bureaucratic red tapes have emerged. Many
startups are bringing in a consultant to help with these areas
rather than trying to understand the complexities themselves.
3. Exploding data. With 90% of the world's data was created in
the past two years and managing, keeping safe and extracting
insights from the ever-increasing amounts of data your company
produces is becoming difficult.
4. Maintaining reputation is getting tougher. With sites like Yelp
or TripAdvisor, customers can voice any displeasure so much
more publicly and loudly than ever before. Businesses need to
continually monitor and maintain their online reputations.
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