CLASSIFICATION OF ENTREPRENEURS

The entrepreneurs have been broadly classified according to

• Types of business
• Use of professional skill
• Motivation
• Stages of development

ENTREPRENEURS ACCORDING TO TYPES OF BUSINESS

• Business entrepreneurs are those individuals for a new product or service and then translate the same into business reality. Tap both production and marketing resources to develop a new business opportunity. Setup big establishment or small unit such as printing press, textile processing house, advertising agency, readymade garments or confectionery. In majority of cases, entrepreneurs are found in small trading and manufacturing business. Entrepreneurship flourishes when the size of business is small.
• Industrial entrepreneurs are essentially a manufacturer who identifies potential needs of customers and products or service to meet the marketing needs. He should have the ability to convert economic resources and technology into a profitable venture.
• Corporate entrepreneur is an individual who demonstrates his innovative skill in organizing and managing corporate undertaking. He plans, develop and manage a corporate body.
• Agricultural entrepreneur are the ones who undertake agricultural activities such as raising and marketing of crops, fertilizers and other inputs of agriculture. They are motivated to improve agriculture through mechanization, irrigation, and application of technologies for dry land agricultural products.

ENTREPRENEURS IN TECHNOLOGY

• Technical entrepreneur is the one who is essentially a craftsman. He develops improved quality of goods because of his craftsmanship. He concentrates more on production than on marketing. He demonstrates his innovative capabilities in matter of production of goods and rendering of services.
• Non- technical entrepreneur are those who are not concerned with the technical aspects of the product in which they deal. They are concerned only with developing alternative marketing and distribution strategies to promote their business.
• Professional entrepreneur is interested in establishing a business but does not have interest in managing or operating it once it is established. He sells out the running business and starts another venture with the sales proceeds.

ENTREPRENEUR AND MOTIVATION

An entrepreneur is motivated to achieve or prove his excellence in job performance. He influences others by demonstrating his business acumen.

• Pure entrepreneur is an individual who is motivated by psychological and economic rewards. He undertakes entrepreneurial activity for his personal satisfaction in work, ego and status.
• Induced entrepreneur is one who is induced to take up an entrepreneurial task due to policy measures of the government that provides assistance, incentives, and concessions and other facilities to start a venture. Enter business due to financial, technical and other facilities provided to them by the state agencies to promote entrepreneurship.
• Motivated entrepreneur: they come into being because of the challenge involved in developing and marketing a new product for the satisfaction of consumers. If the product succeeds, the entrepreneur is further motivated for launching of newer products.
• Growth and entrepreneur are those who take up a high growth industry which has substantial growth prospects. Super growth entrepreneurs are those who show enormous growth or performance in their venture.

ENTREPRENEUR AND STAGES OF DEVELOPMENT

• First generation entrepreneur is the one who starts an industrial unit by his innovative skill. He is the one who combines different technologies to produce a marketable product or services.

• Modern entrepreneur is one who undertakes those ventures which go well with the changing demand in the market. He undertakes those ventures that suit the current market needs.

• Classic entrepreneur is one who is concerned with maximizing the economic returns at consistent level. He is concerned more about the survival of the firm with or without an element of growth. Apart from the above, there are entrepreneurs who can be classified into innovative and imitative categories.

• Innovating entrepreneurs are generally aggressive in collecting information, analyzing and experimenting attractive possibilities into practice. They are quick to convert old established products or services by changing their utility, their value, their economic characteristics into something new, attractive and utilitarian. They can see the opportunity for introducing a new technique of production process or a new commodity or a new service or even the reorganization of an existing enterprise. They are very commonly found in developed countries while there is dearth of such entrepreneurs in underdeveloped countries. They are always creative and bringing in innovation in their work.

• Imitative entrepreneurs are ready to adopt and are more flexible in imitating techniques developed by others. They exploit opportunities as they come and are mostly on a small scale. He is more of an organizer of factors of production than a creator. In the context of a poor country, he is definitely a change agent and hence he is important in underdeveloped countries.

Principles of Design and Layout

It is not necessary that all elements of advertisement copy must form part of the copy. They appear in today’s ads with varying degree of frequency. The components of the copy must be decorated or positioned on the basis of certain basic principals regardless of the number of elements in an add. The following five principles of good composition are important to anyone who creates or evaluates the advertisement - (1) Balance ; (2) Proportion (3) Contrast and emphasis, (4) Eye –movement , and (5) Unity.

(1) Balance – A layout may be called balanced if equal weight or forces are equidistant from a reference point or a light weight is placed at a greater distance from the reference point than a heavy weight. Balance is the law of nature. The reference point or fulcrum is the optical centre of the advertisement. The artists with a given area or space, are to place all the elements with in this space. Optical centre of fulcrum of the ad is often a point approximately two – thirds of the distance forms the bottom. It is the reference of the layout.

(2) Proportion- Proportion is closely related to balance since it refers to the division of space among layout elements for a pleasing optical effect. Good proportion in an advertisement requires a desired emphasis on each element in terms of size and position. If the major appeal in an advertisement is product’s price. The price should be displayed in proportionate space position.

(3) Contrast and Emphasis – Contrast means variety. It gives life to the whole composition and adds emphasis to selected important elements. An advertiser always looks to advertisements from completion point of view and desires the policy of the most important elements to attract the attention of the people. An advertisement with good contrast may attract the attention of customers Contrast maybe visible in a number of ways. It may be witnessed through sizes, shapes and colours. Different colours sizes and shapes of elements in an advertisement add contrast. The varying directions, of design elements (Vertical trees, horizontal pavements arched rainbows) add contrast; too there must be sales communication purpose behind every layout decision made.

(4) Eye Movement – Eye movement is the design principle which helps move the eyes of the readers from element to element in the order given in the hierarchy of effects model for effective communication of the message in advertising. An effective ad uses movement to lead its reading audience from initial message awareness through product knowledge and brand preference, to ultimate action (intent to purchase). Direction and sequence are two terms for the same element and artists may perform it in many ways. Mechanical eye direction may be created by devices such as pointing fingers lines arrows or even a bouncing ball that moves from unit to unit. Planned eye movement should follow the established reading patterns too, such as the tendency to start to top left corner of a page and read through to the lower right corner. The eyes also moves naturally from large items to small from dark to light and from colours to not – colours.

(5) Unity or Harmony – Unity or harmony is another important design principle. Although each element should be considered as a separate unit in striving for balance, proportion, contrast and eye movement. The complete layout or design should appear as a unified composition. Common methods of securing unity in layouts are (i) use of consistent typographical design. (ii) repetition of the same shapes and motifs, (iii) the overlapping of elements (iv) use of a boarder to hold elements together and (v) avoidance of too much which space between various element.

Although unity and contrast seem conflicting but they function quite smoothly together if, they operate at cross purposes – if the artists strive for balance here too as well as in the layout overall. Unity contributes orderliness to elements – a state of coherence. And if they are properly placed. Contrasting Size shapes colours and directions can flow together beautifully.

Advertisement Layout

Meaning

Layout is the logical arrangement of components of an advertisement in the copy. It refers to the overall structure, the position assigned to the various elements of the copy and illustrations. It is deciding on the placement of headlines, copy, illustrations, marketer’s name, logo and the amount of free space in an advertisement copy. Thus, the physical arrangement of all the elements of advertisement is called layout. It is concerned with placing all the elements of the advertisement more attractively within the allotted space and time. The pattern of layout varies according to the medium to be used.

Definition

According to Sandage and Fryburger, “The plan of an advertisement, detailing the arrangement of various parts and relative spatial importance of each is referred to as layout”.

Preparation of a layout

A layout is a plan for the guidance of the printer in arranging the units of an advertisement. Usually the layout man or visualiser prepares a rough Layout which is submitted to the client for approval and he draws the finished layout for the guidance of the printer. In the creation of television commercials the layout is known as a ‘Storyboard’ which a series of pictures is of frames that coincides with the audio or sound script. A Radio does not utilize illustrations, except those that the medium can create with a description. Television, of course makes an extensive use of illustrations. A well conceived layout can be instrumental in obtaining attention comprehension, attitude change and behavior change. Advertisers employ various layout techniques to attain their objectives.

Functions of an Advertising Layout

(i) Assembling Different Parts – The main function of layout is to assemble and arrange the different parts or elements of an advertisement illustration, headline sub headlines, slogans, body text and the identification mark etc. And boarder and other graphic materials – into a unified presentation of the sales message. In all the layouts present these elements in the same size, form, shape, position and proportion as desired by the advertiser in the final ad, proof , Thus layout gives both creative personals (copywriter and artists ) and the advertiser who pays for it a good idea of how the finished ad will finally appear.

(ii) Opportunity of Modification - The layout offers an opportunity to the creative teams, agency management and the advertiser to suggest modification before its final approval and actual construction and production begins.

(iii) Specification for Costs – The layout provides specification for estimating costs and it is a guide for engravers typographers and other craft workers to follow in producing the advertisement.