Text: Entrepreneurship 4/e

Chapter 2: Recognizing Opportunities and Generating Ideas

Topic: Generating and Implementing New Ideas

Learning Objectives:
1. Explain when its best to start a new firm.
2. Identify the four environmental trends that are most important in creating business
opportunities.
3. Describe methods for protecting new and creative ideas.

Video Title: Big Apple Circus: Marketing and Advertising

Link:
http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Entrep/Entrep2012_B
AC_Marketing.html

Discussion Questions
1. In your opinion, which of the social forces mentioned in your text would have the
greatest influence on Big Apple Circus?

In my opinion, I believe the increasing interest in social networks such as Facebook

and Twitter has the greatest influence on Big Apple Circus. According to Vice
President and General Manager, Scott ODonnell, he mentioned that the circus has
changed their marketing system over the last five to ten years as print ads and radio
ads are not as effective as it was in the past. To reach out directly to their current
market share, they realized the potential of social media especially outdoor
advertising which is widely used by all, whether it is the circus or a movie. Social
media has been proven to be the main communication medium among the public.
Hence, it would be the fastest and best way to use the provided resources to tap into
the market.

2. How is Big Apple Circus successfully filling a gap in the marketplace?

Big Apple Circus successfully fills a gap in the marketplace by catering to a

specific niche which favors traditional, one-ring European circus performances.
Despite the existence of many competitors whether it is industry-related parties such
as Circus De Solei or non-industry related parties such as Sesame Street Live, there
is still a viable opportunity to target at this area of people. This market share is
commonly related to baby boomers who are more exposed to such environments back
in their time and now pass the tradition to their younger generations. Fortunately,
Big Apple Circus has gained more exposure by collaborating with Britney Spears
which has led to continuous projects with other clients such as the one in Abu Dhabi.
Furthermore, their entrepreneurial and innovative spirit such as producing fresh new
performances yearly to keep their audience intact with their performance line-up as
well as using social media as part of their marketing campaign has successfully
sustained them in the market.

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3. In what ways can companies like Big Apple Circus protect their business
concepts?

Today, companies like Big Apple Circus can protect their business concepts by
practicing a 3-step process which protect ideas from being lost or stolen.

Step 1
Companies such as Big Apple Circus should first put their business concept ideas in a
tangible form such as written down in a journal or entered into a computer system
along with the date proposed.

Step 2
The next stage is to secure the idea through applying for intellectual property law
such as establishing trade secrets, trademark or copyrights. This adds a layer of legal
protection and serve as written proof when a legal issue should arise. For Big Apple
Circus, they can trademark their routine steps as well as performance titles.

Step 3
Lastly, voluntary disclosure should be avoided to prevent the forfeit of claiming
exclusive rights. The method proposed is using non-disclosure agreements which
helps protect the idea before revealing it to workers of other associates. It is
legitimately binded and can be serve as written evidence as well.

Quiz
1. Big Apple Circus is
a. a traditional, one-ring European circus.
b. similar to Barnum and Bailey Circus.
c. actually not a circus at all.
d. None of the above

2. Big Apple Circus employs approximately _____ employees when on tour.

a. 20
b. 170
c. 300
d. 1000

3. Which of the following alternative live shows are mentioned in the video as
competitors of Big Apple Circus?
a. Dora the Explorer
b. Sesame Street Live
c. The Wiggles
d. All of the above

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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall
4. Big Apple Circus teams up with celebrity performers to increase revenue and
charitable giving. Specifically mentioned in the video is
a. Lady GaGa.
b. Britney Spears.
c. Justin Timberlake.
d. None of the above

5. Big Apple Circus faces many challenges because

a. there is a lot of competition.
b. they target the same market every year.
c. the economy is not doing well.
d. all of the above.

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Copyright 2012 Pearson Education, Inc. publishing as Prentice Hall