Entrepreneurial Opportunity Assignment - E cigarette business

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Added on 2020-10-22

Entrepreneurial Opportunity Assignment - E cigarette business

Added on 2020-10-22

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ENTREPRENEURIALOPPORTUNITY

TABLE OF CONTENTSTARGET SEGMENT BENEFITS AND ATTRACTIVENESS.....................................................1SEGMENT.......................................................................................................................................1TARGET..........................................................................................................................................2MARKET.........................................................................................................................................2CONCLUSION................................................................................................................................2REFERENCES................................................................................................................................4APPENDIX......................................................................................................................................5

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TARGET SEGMENT BENEFITS AND ATTRACTIVENESSSEGMENTSegmentation is replicated as process to divide market of potential customers in differentgroups, or segments on basis of different features. As it is known that one organization could notserve all consumers in entire market or at least with not profitability in similar aspect. Moreover,variety of various kinds of consumers and their needs are very large (Chu and et,al., 2019). Inthis aspect, here market has segmented on basis of demographic and geographic variable as itsdetail description is stated. It had undertaken best step for marketing strategy as it had not triedfor laying emphasis on full market so it has divided in small segments which is very useful forattaining success and competitive advantage:Demographic segmentation: It is referred as market segmentation as per age, income,gender and family size. This could be segmented in several markets which leads to organizationtarget its consumers in accurate aspect. For purpose of this business of E-cigarette as it is lessharmful comparatively to tobacco smoking as it is battery operated device which emits vaporizednicotine or with non nicotine solutions to inhale (Diamantopoulou and et,al., 2019). As it hassimilar sensation to inhale tobacco smoke and it has been extracted that smoking is very commonwithin age of 18 to 25 years as in every year it has reduced to 11.3 cigarettes each day. With thiscontext, this is the one reason is about prevalence of E-cigarette because this helps in reducing orquit smoking. Smoking has been prompt by teens of age 13 to 17 years as mostly of them areforced to try for first time and then it becomes habitual while knowing this leads to seriousdisease such as cancer or any heart disease (First evidence that e-cigarettes may be promptingUK teens to try the real thing, 2019). At the adolescence age, they are highly cautious for healthso preference of E-cigarette tends to higher.On basis of income level, one who are earning less than £10,000 per year are at modewho are facing stress and depression, so they try E-cigarette which helps to forget them theirissues at present level. This will lead to one more advantage to consumers is about affordability.Age: 18 to 25 years Income: Less than £10,000 per year1

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