Entrepreneurship and Feasibility Study of Drizzle Water Bottle

This article discusses the entrepreneurship and feasibility study of Drizzle water bottle, an innovative product by Waterlog. It covers the motivation behind the start-up, process of generating idea, feasibility studies, details of the product, potential market opportunities, and more. The article also includes a competitor analysis and STP analysis to identify potential market opportunities.

ENTERPRISE AND
ENTREPRENEURSHIP

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Motivations for New Start-up......................................................................................................3
Process Went Through to Generate Business Idea......................................................................4
Feasibility Studies........................................................................................................................5
Details of the Product to be Offered............................................................................................6
Potential market opportunities of Drizzle. Stp, comp.analysis....................................................8
Attractiveness of the industry ...................................................................................................10
Vision of the business ...............................................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Setting of a new business in the market is known as entrepreneurship. Entrepreneurship is the
process of an individual to start enterprise and Enterprise is the outcome of entrepreneur.
Entrepreneurship is highly risky but it is also highly rewarded, and it also increases the growth,
wealth of an economy.
Enterprise is defined as a business or a company for earning profit. Enterprise was started to
solve problems by innovative ideas and knowledge based products.
Waterlog was started with a product Drizzle water bottle which indicates the time to remind an
individual for drinking water.
The company was started to motivate the users by updating individual to drink water regularly.
Thus, the presentation will analyse on the motivation of new start-up, process of generating idea,
feasibility and the details of the product.
Moreover, will discuss the attractiveness of the product, potential market opportunities and
vision of the business.
MAIN BODY
Motivations for New Start-up
Motivations for Waterlog to start a bottle indicator business are as follows:
It was designed to provide update to an individual for drinking water timely. According to a
survey most of the people remains dehydrated as due to their daily busy schedule, they forgot to
drink water.
As dehydration caused many diseases and it affects the health of an individual. So Waterlog
decided to launch a bottle which indicates the time to drink water to an individually.
The bottle was designed in a manner which indicates to drink water at particular time. The using
of this bottle helps an individual to remain hydrated in his busy schedule by receiving indicates
to drink water.
An individual faces the issue of dehydration and although he knew about the issue of
dehydration to his body he forgot to drink water.
It was also noticed by a person that most of the people forgot to drink water as busy in their
busy schedule.
Then it decided to launch a product which indicates an individual to drink water at every
particular time.

The product drizzle was launched to solve the dehydrated issue, the product indicates at a
particular time to an individual to drink water.
There is a lot of potentials to earn a lot of money in this industry as the issue was rising rapidly,
thus the awareness of this issue is very necessary.
Most of the people were not aware about the effects of not drinking water regularly. Drizzle can
also be said as a motivational water bottle which motivates the individual for drinking water.
The trend of unique and informative water bottle motivates an individual to adapting new trends
and technologies. The customers were attracted towards a new ideas and technologies which
change their daily lifestyles.
Customers buy a different and unique products which gave attentions to individual in their daily
lifestyle. The new product Drizzle helps the customers to get their daily needs by reminding
them of drinking water.
Thus, the water is essential and basic need of an individual, but due to busy schedule it forgot to
drink water, Waterlog provides a solution to an individual by indicating to drink water.
Process Went Through to Generate Business Idea
The process which followed by a business to start a new business are:
 Identify and analyse the relevant markets- The first step to generate a new business is
identifying your product with the market needs and the specific customers which were
attracted to the product.
Every individual deciding to start a new business should identify the market and the problems
which were occurred while launching of products.
Waterlog which is deciding to start a new water bottle indicator business should firstly identify
the relevant market and customers which were attracted to your product.
 Write down ideas and expand them- An individual should note down the ideas and the
steps to expand its market to its potential customers.
Writing down various ideas which received by you helps easily to analyse a good idea and
formulate the idea. Creation of several notes and sorting them according to specific topic.
Evernote can be easily accessed via different platform such as windows, android and ios. There
is a simple sync button to synchronize across all platforms.
 Competitive analysis- A quick competitive analysis should be their by comparing your
product and business which may compete in the future.

It must be identified whether your product will able to compete with competitor products.
 Design a mock and test it- This stage is important to identify whether your idea is
working or not. It's the time to create a mock product by designing in attractive way and
testing the product.
There are many tools available online to design your product in different formats. After creation
of mock up you can share to your team members so to finalize the product design.
Test is necessary to identify product threats which affect the product life.
 Finalizing product with market survey- The last step is to finalize your mock design and
start of launching product.
Before launching of the product there should be a quick market survey of your product with
customer and take customer necessary feedbacks for your idea.
It helps you to identify market threats and helps to make prior changes to your idea and attract a
customer.
Feasibility Studies
Feasibility studies of a new products helps you to make a market research methodology which
provides you the prediction analysis and guide the next steps for marketing, product development
and sales.
Thus, for feasible study will apply PESTLE Analysis.
 Political Factors- Political factors which affect the business at the start-up includes
environment regulations, tax policy, trade restrictions, tariffs and the political stability.
Government can influence a company by these factors, company's revenue generating
system can change if government bring new tax policies and reforms.
 Economic Factors- The factors includes such as economic growth, inflation, interests,
wage rate, unemployment, cost of living, credit availability.
An individual deciding to start a new business must notice the impacts of economic factors
which can affect to the business in long term.
A rise in the rate of inflation of an economy can direct impact the price of product or services of
a business.
Increase in price may affect in the purchasing power of an individual which affect in the demand
and supply chain and may affect the production of the business.

 Social Factors- The factors include cultural norms and expectations, age distribution,
healthy and safety, these factors helps the business to make analysis and adopt strategies.
These factors help to target specific customers.
 Technological Factors- Technological factors is defined as the innovation and
development of technologies to a product or company.
An organization should adapt the new technologies to a product which helps to retain its product
and attract the customers.
Waterlog studied the factors and launched an innovative product which is designed to provide
indicators to consumer for drinking water, it is a new concept.
 Legal Factors- It may put negative impact on firm in term of increasing pressure related
to work that affect sales and success in the UK market, where it plans to establish an
outlet.
This factor is those which prominently changes to regulatory environment and affect the
economy.
 Environmental Factors- These factors may affect due to geographical location, change in
climate, weather.
The elements that influence the ecology are also important such as natural resource, recycling,
disposal waste, and other such elements.
Details of the Product to be Offered
Details of the product defines about the specification and the usages of the product. The details
were are as follows:
 It is the best designed and innovative product in the market as it indicates the individual
to drink water at every specific time as it remains individual to be healthy.
 The product is designed in a silicone material. Drizzle water indicator bottle can store up
to 1000 millilitres of water.
 Product is not specified to a single design, it was designed in multicolour.
 Suitable for a person who is working or doing job and have a busy life schedule. The
product is also suitable for the sports like Cycling, Running, Hockey, etc. It can be also
suitable for old age persons.

 Its design is very simple and it was in round shape. It comes with a spring loaded dust
cap. It helps in to achieve fitness goals whether for weight loss, appetite control and for
overall health.
 It is easily opened with one hand and faster to drink through a straw. The straw was made
up of soft silicon material. It is easy for clip-on and on-the go-hydration.
 The top was designed in a wide neck which is more suitable for filling water and ice
cubes.
 It has a function to connect to the backpack as it comes with a buckle. It comes with a
carrying strap which can be easily removable.
 The product has unique lock design which prevents the leaks. Just pressing lightly it
locked and avoid the spoiling of water. It can be easily unlocked with a single click.
 The product has a good quality design and eco-friendly reusable tritan co-polyester
plastic, the water bottle is 100 percent TOXIN and BPA free, odour free and it is healthy
for your daily water drinking.
 This water bottle is designed in a range of Smart water bottles which help you to track
your daily intake of water and indicates you to drink water.
 It comes with the indicating straps, the indicating straps includes the timings on the
bottles such as per hour time, indicating lights, and it shows the quantity of water, and
lastly showing the filling of water.
 Due to its feature it is easy to carry as because it can be hooked on the bags.
 Consumers which were working in a company having busy lifestyle were looking for the
product which help them to remind of drinking water.
 Majority of the people were suffering from diseases which were caused due to
dehydration.
 Thus, with the help of this indicator water bottles it helps an individual to remains
hydrated.
 Consumers choose the innovative products which help them in easy lifestyle and looks
cooler.
 Consumers who tried the innovative product will likely to promote more to their friends
and family about the product.

 Drizzle is also suitable for the sports persons as it indicates and reminds the person to
drink water.
 Using of these products helps the consumer to remains healthy, This includes in increase
in weight, maintain weight as water is the essential need of a person.
 A person doing job has very busy lifestyles and it forgot to drink water. A Drizzle
reminds the individual to drink water and remains healthy.
 This product can also be said as motivational product as it motivates the people to drink
water.
Potential market opportunities of Drizzle.
To identify the potential market opportunities for Waterlog industry's new and innovative
project, that is, Drizzle water bottles, a detailed STP analysis may be conducted.
It will help to understand the marketing planning process for the new line of product.
Segmentation (S)- It refers to collection of market data and dividing the customers based on the
various characteristics.
There are four common types of segmentations of the market geographic segmentation,
demographic segmentation, behavioural segmentation and psycho- graphic segmentation.
In the busy and rushing lifestyle of the 21st century, the people always forget to take care of
themselves and ignore the small yet important habits such as hydrating themselves regularly and
often compromise their health.
The product will focus on the psycho- graphic segmentation and analyse the factors such as
lifestyle, habits and activities the people are indulged in and advertise the product to these
segments of the market.
Targeting (T)- After creating the different segments of the market/ audience, it requires the
organization to identify the right market that is more profitable and easy to operate.
Targeting may help the organization to find an ideal segment of the market for the product.
These target market may be based on- size, profitability and reachability.
There are more elements that may be considered in targeting such as combination of size, growth
etc. to attain better conclusions.
The organization may consider other minor data of the market for the success of the business
especially during introducing a new product.

The organization may target the psycho- graphic segment of the customers as they are easy to
influence.
For example, the people related to sports and fitness will have regular indication of hydration
requirements with the help of drizzle bottles and the busy office people who often forget to
hydrate in short intervals.
Positioning (P)- Positioning can be defined as connecting with the audience at an individual
level to set the product and services separated from other competitors in the market.
It is moreover a strategy of setting a unique and convenient aspect of the product that puts the
brand with a different image in the minds of the customers.
The organization may communicate with the audience and analyse the feedbacks and make
efforts to improve the customer experience.
There are three important factors that will be important for Waterlog to consider before
positioning the new product in the market-
Symbolic positioning or lifestyle positioning that helps to figure out the symbolic position of the
brand by knowing what kind of image is being demonstrated.
Functional positioning demonstrates how the new products will solve the existing problem of the
people.
The experiential positioning defines the experience and emotions that the product provides to the
customers.
Competitor Analysis
The potential market opportunities for Waterlog may also be influenced by the competitors in the
market.
This competition and its impact on Drizzle can be analysed by conducting a competitor analyses.
The competitor analysis is a planning procedure that considers dominant competitors of the
market that may affect the business and implementing business strategies to survive against these
competitors and cement a place in the market.
It helps the brand to figure out the possible opportunities in the market regarding the product and
the values that set the product apart from its competition and indicate the useful marketing
efforts for the future.
MILTON is a popular water bottle manufacturer that can prove to be a big rival for Waterlog in
the future.

The water bottle manufacturer already has a big name in the market and is recognized by value
around the world.
It has a huge customer base that will create a strong rivalry with Waterlog if it decides to
introduce a similar kind of product.
Waterlog may uncover the market trends and identify the gaps in the market regarding such
products.
It may develop the new product by fixing those gaps and adding some more innovative features.
It may first identify the competitors, research sales results, pricing range, cost of operations,
channels of marketing etc.
This will help the company to have a better understanding of the competition of the market and
plan appropriate strategies that may contribute to the success of the new product.
Determining the competitors and analysing their product is the most important aspect and the key
to understand the market trend.
The behaviour and response of the people is the second aspect to consider.
Technology, pricing and distribution process is also a part of competition that will influence the
business of the organization as these features will indicate the product quality and buying
decisions of the customers.
The competitor analysis is one of the finest ways to find the potential opportunities in the market
and identify the loop holes in the strategies.
The organization may learn from its competitors and realize its position in the market and minds
of the people and revise its strategy for better results.
Attractiveness of the industry
Attractiveness of the industry can be defined as the revenue potential of the industry in a
business that the industry is planning to enter.
Higher profits indicate more attractiveness and vice versa.
To analyse the attractiveness of the business in context with Waterlog, the porter's five forces
model can be applied.
These five forces are-
Competitive rivalry- It is the first force of the model that calculates the number of competitors
present in the market and the strength they possess in their business.

It compares the market share that the competitors have and the quality of the product and
services that is present in the market.
The company attract customers by cutting down the price to minimum without compromising the
quality of the product.
This will create an intense level of competition in the market with the rise of price wars and
advertisements.
Effective marketing techniques and promotional strategies may also attract the customers and
this may force the competitors to stay back or find other market where its product may fit with
the criteria.
Influencing the audience can also force them to shift for a better deal and value of money.
Competition is high when there are fewer industries selling the product but when a particular
product is growing, the competition is intense as the buyers are more likely to switch brands.
The bargaining power of the suppliers-
This force examines the gravity of power that the product supplier has in influencing the prices
of the product and service.
It determines the control of the suppliers on the business and impacting the business profitability.
It also assesses the available suppliers in the market and the raw materials and resources that are
supplies in the firm.
If the number of suppliers are less, then the gravity of power in their hands will be more.
Hence, it is better for the organizations to target market that have more suppliers and this will
initially lower the deal amounts in the industry.
It is crucial for the organization to critically analyse this force as the power of supplier can
directly impact the business operations.
The organization may look for a stable business partner that fits in the budget line or either a
market with multiple suppliers that create the competition amongst them and lower the deal
amount.
The bargaining power of the customers-
This force analyse the power of the consumers and their impact on the price and quality of the
product.
When there are multiple sellers in the market, the bargaining power of the customers increases as
they can easily switch to another substitute that is available in the market.

Conversely, the bargaining power of the customers declines when there are less sellers and
unavailability of substitutes in the market.
Sometimes the features, uniqueness and quality sets the product different from its competitors
and reduce the power of the customers, and they are left with no choice but to except the price
and quantity.
The bargaining power of the customers can also be influenced by the offers and discounts
available in the market.
The company may apply various strategies and price line that makes the product more desirable
against the rival or provide features that may make the product different altogether.
The threat of new entrants-
For any new product, there is always a threat of a new entrance that may possess similar kind of
features or may try to occupy the market share.
This force studies the conditions of the market about how easy or difficult it is for the new
product to enter the market and disturb the environment.
If the market is easy to occupy, there is a greater risk of depletion of the market share.
The new trending products gets copied easily in the market and become threat for the businesses.
The organization may strengthen its policies and create big obstacles for the new entrants by
building strong brand identity, position in the minds of the customers, tough pricing policies,
access to easy resources & cost advantages.
The company may create a positive customer relationship by providing satisfactory services and
quality of the product and value of their money.
The threat of substitutes-
This force looks at the substitute products and services and their influence on the brand.
It studies the characteristics of the consumers and what drives them to shift from one brand to
another.
It also examines the number of competitors and the price and quality of similar products in the
market.
It determines the impact of the substitutes on the business of the company and how it impacts the
market share and attitude of the customers.

This threat mainly considers the price factors as the main component that strengthen this force in
the market.
The organization may create a positive image of the brand in the minds of the customers and
keep the policies and planning updated with the market trends and focus on the factors that
influence the customer trust and retention.
It may target market that has fewer substitutes and high potential customers.
Vision of the business
The current business aims at contributing the individuals in improving their daily consciousness
towards their health.
A lot of children in the schools, working people in the offices and sportspersons often forget to
drink water on a regular basis and keep busy in other activities.
This unique product from Waterlog will remind the users on a regular basis to hydrate
themselves and help them to stay healthy by alarming them with the course.
It will keep an eye on the task of drinking water and how well the task is going according to the
indicators on the smart bottle, that is Drizzle.
CONCLUSION
It has been concluded from the above presentation that it requires a lot of motivation for
launching a new start- up in the market.
There can be different processes to generate a business idea that includes identifying and
studying the relevant market, planning strategies for implementation and then finalizing the
product with the help of market survey.
A detailed feasibility study can be conducted in the form of PESTLE analysis to make sure the
selected market has the favourable conditions for the business.
The presentations also concludes the details of the new product and the segmentation, targeting
and positioning elements of the marketing process.
These elements of the marketing process are very important along with considering the
competition in the market and then finally looking at the potential market opportunities for the
product.
Porter's five forces analysis has been conducted to understand the attractiveness of the industry
and the main vision of the business about how the new product will contribute to the people.

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