Entrepreneurship- Assignment PDF

Added on - 21 Apr 2020

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Running head: ENTREPRENEURSHIPEntrepreneurshipName of the studentName of the universityAuthor note
1ENTREPRENEURSHIPThere are various drivers, which led the growth of Zip car in terms of their economicperformance. One of the key drivers is the inclination of the preference pattern of the customerstowards the online service portal. This helped them due to the reason that, Zip car initiated theprocess of introduction of online portal for their customers to book the cars online. Thus, thiscaused enhancement of the convenience of the customers, which further attracted them.Moreover, the introduction of latest safety software by Zip car such as installing of black box incar also helped to increase the satisfaction level of the customers (Della-Giustina). Another keyeconomic drivers of is their strategy of rapidly expanding in markets other than Boston. Theyhave rapidly expanded their business in 14 other cities, which helped them to enhance their brandvalue in the market. Thus, due to their enhancement of their brand value in the market, they areable to attract more investor for funding with having more customer base (Guerriero andOlivito). This factor motivated them to change their business model to enter in different market,rather than operating in a single market.Moreover, having effective management team and determining the market requirementeffectively also helped them to enhance their economic performance. This is due to the fact that,Zip car have effectively identified the market requirement, which according to the case studygiven are having the need of rented car service. According to the reports, there are variousprobable customers who are in the need of a car but cannot afford it. On the other hand, severalcustomers can afford it but they will need a car for occasional use. Hence, in this scenario, Zipcar came up with the business plan of offering cars to the customers in rent for a specific time(Sundararajan). Thus, it provided the customers to have opportunity of having the car at the timeof requirement along with not having the need to have their own. Thus, providing the car rentingservice to them helped Zip car to penetrate the market effectively and in less time. The rapid
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