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Entrepreneurial Opportunity: PDF

   

Added on  2021-02-20

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ENTREPRENEURIALOPPORTUNITY

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Market Attractiveness..................................................................................................................1Industry attractiveness ................................................................................................................3Target segment benefits and attractiveness .................................................................................6Competitive and economic sustainability ...................................................................................8CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................11

INTRODUCTIONResponding to the potential business opportunity is one of the essential characteristic traitof successful entrepreneurs. To explore and identify a business opportunity individuals mustconduct a thorough market analysis so that the proposed product and services can be developedas per the needs of potential customers. Along with the analysis of market and industryeffectiveness the business plan must also integrate the economic sustainability so thatcompetitive threats can be eliminated and long term success of the venture can be assured (Sarti,Darnall and Testa, 2018). The report will provide analysis of 4 domains so that new foldablesmart phone can be launched in the market. It will also evaluate the successful business strategyfor the proposed product. Discussion of domains Market AttractivenessMarketing is the key context in concept of entrepreneurial bushiness. There are variousmethod that is different in marketing techniques. The market attractiveness is the majorcompetent for the identification of the market for the new product foldable mobile in market. Thevarious factor which let to combine the idea of market attractiveness. The factors are size ofmarket, growth, stability and competition which effects the firm in targeting the marketattractive segment. The further elaboration of the factor are such as:market size and growth rate,country institutional context,competitive environment of region,other markets cultural, geographic and economic distance from the other competitivemarket.Market Size And Growth Rate.The market and growth rate of the country is an important part which decide thesuccessful launch of the product in the market. If the market has stabilized growth rate there isthe maximum chance for tar development of the product. For making the portfolio decision thereis no shortage of information in market. The first attractiveness in the market is size ofmarket(Lassalle and McElwee, 2016. ). In the world of technological advancement everyone1

wants to run along with development of technology. So it is very important for a company toidentify the correct market for the launch of it product. The state of UK is large market foe thetechnologism and electronic market.After the identification of market, potential customer has to bee identified which will bedepicted to the company by market survey. There should be the primary researcher to understandthe consumption level of customer in the market so the company can be aware of there level ofpurchasing power of customer.Growth rate is other dependable topic that has to be considered so that company canunderstand the level of flourishment of company (Hechavarría and Welter, 2015.). It is theimportant part as for decision-making of firm on the factor whether the area is high growth ratearea or low growth are. For product the folded mobile, UK has been the esteem place for thetechnological up gradement so it is the place of higher growth rate and will turn out to havehigher returns.Country Institutional ContextThe countries institutional context refers to the what is the level of market development,the level of labour and product market, capital and openness of political and social system.The political and social system affect the various factor of the economy such as the labourmarket, product and capital market. In UK political system there is minimum labour market moreof the skilled labour(Lewin,2015). The government of UK used to support technologicaladvancement into country so it turned to very attractive for company launching folded mobilethere is openness in market so that the multinational companies can operate to the extent level sothat the barriers to development will be reduced.There is the market for product development in UK is more important part which can be noteasily done in UK(Patel, 2019.). The companies have to pay a special emphasis on thedevelopment of product as recruitment of manager and other skilled labour is not easy in themarket of UK.Competitive EnvironmentThe number of size and quality of the competitors in specific target market compose theset of factors that effects the ability of company along with complete profitability. The completemonitoring of competitor will help in analysis the outer environment. It will help in decision-making of the company in analysis of the competitive in target market. The company has come2

with the special folded phone so there is not high level of completion is market. The level ofsubstitute is low as there is nor substitute of mobile phone still developed. The threat of newindustry in the market is high because of the technological advancement company has treated ofnew technology is that the model turn to be outdates (Hechavarría and Welter, 2015.) In theworld of technology advancement there are many competitors in UK market. It will help indecision-making of the company in analysis of the competitive in target market. The companyhas come with the special folded phone so there is not high level of completion is market.Other Markets Cultural, Geographic And Economic Distance From The OtherCompetitive Market.There are many more other factors that effect the market attractiveness for the productdevelopment of folded phone in the market of UK. Cultural impact refers to the level of diversityof the citizen in the country and what is there cultural adaptability. The trend in the market is tobe developed so the target market will have the trend in development of product. The next factorgeographic factor which contain all he areas for the development of the all the states of thecounty. the availability of the product will be in all parts of UK as to increase the reach of thefolded mobile phone to each and every target customers. The trend in the market is to bedeveloped so the target market will have the trend in development of product. The next importance facto is economic condition or audibility of the UK states(Covin and Slevin,2015.).If there is unstable condition in UK then it very difficult to have launch of product. Theeconomic condition will help in identification of pricing and marketing strategies sor thedevelopment of the product.3

The managers or the team of the organization will importance to all the factor of themarket attractiveness as it is the important part as selecting the target market and identifyingpotential customer. The market attractiveness is the major competent for the identification of themarket for the new product foldable mobile in market. The trend in the market is to be developedso the target market will have the trend in development of product. It will help in decision-making of the company in analysis of the competitive in target market. Industry attractiveness Industry refers to place where product is manufactured by going through variousprocesses that consist of different stages includes raw material, work in progress and finishedgoods. Tourism industry is growing at a fast pace as compared to other industry. It helps increating demand for consumers that will bring effectiveness in working so that it will producedifferent factors that will affect demand of consumers. Through tourism industry country isgrowing fast in the economy that bring more opportunities in the future (Bowtell, 2015). Thiswill help in expansion at international level that motivate employee to do work. Industry attractiveness is the approach that is provided to marketer for earning profit inthe future. This will be determined by five forces model that help in gaining competitiveadvantage in the marketplace. 4

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