This report explores the entrepreneurial opportunity in the e-cigarette market. It analyzes market size, growth, and trends, including PEST analysis and current industry dynamics. The report concludes with a focus on the target market and resources needed for success.
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Entrepreneurial Opportunity
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INTRODUCTION Entrepreneurial opportunity is required for understanding the scope and future of an entrepreneurial scenario across the globe. This assessment is based on finding the specific market for the use of e-cigarettes in the user. It will analyze the market size and growth for the e- cigarettes Overview - Now a days, e-cigarettes is considered as the removal of cigarettes, for this, there is a requirement of the clear and accurate understanding of the market growth and future of this product for the entrepreneurial purpose. For starting the venture, it is required to find the know the actual need of the customer or in simple words, be customer centric. There are various things which needs to be discussed of the products are as follow: Market growth - Market growth opportunity for the e-cigarettes is huge, as it is not harmful for the human being. There is a full and fine opportunity for the business to attract maximum number of customers. Market size - There are various regions for the business of e-cigarettes such as Asia pacific, America, Europe etc. In 2015, its market share was 27 percent, now its hold the 61 percent of the current market share. Macro analysis - The electronic cigarettes market is segmented on the basis of the product type, flavor, distribution channel and region etc. PEST analysis- This analysis will help in understanding and acknowledging the macro which will affect the demand for the electronic cigarettes. Political - This factor will affect the demand of the electronic cigarettes. As the it belongs to the safe to the human being health. It deals with the human aspect and well-being. Hence the political factor is important to be discussed. Economic - Economic factor has substantial role in deciding the price of the electronic cigarettes and its flavor prices. Social -Social factor will influence the perception of the consumers regarding the use and adoption of this technology of electronic cigarettes. Technology - These factors will predicts what makes the electronic cigarettes to be more effective and less harmful as compared to the normal cigarettes. Electronic cigarettes market grown from 2015 to 2017 by 25 percent, which is consider as the huge response from the user. Venture has the potential for the market of e-cigarettes. It is most important to influence the customer to use the e-cigarettes for their health. Current trends- Trends is that tobacco manufacturers are attracted towards this idea of the e- cigarettes to save their cost and increase their profitability. This product has the potential to attract the customer or user to their best. It is an opportunity for the venture to flow the current trends and wants from e-cigarettes such as the different types of flavor, usage of the nicotine etc.
Lastly, it is concluded that nicotine is the target market for the venture. It is significant to utilize the resources for the success of the product. Figure1e=Cigarettes market by 2013-2023