Starting a Business and Fundamentals of Marketing

Starting a Business and
Fundamentals of Marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Overview of proposed idea..........................................................................................................3
Evaluation of external environment.............................................................................................5
Competition and competitive advantage.....................................................................................6
Target market...............................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Starting a business is a process of identifying an idea and developing plan through which
the idea can be converted into a product or service having value for customers. Fundamentals of
marketing refer to basic elements of a marketing planning and process that organisation develops
to market its products and services. This is a marketing plan for a product and will involve
presentation of business idea, evaluation and analysis of external environment, discussion
regarding competition and competitive advantage of the product and will also involve
determination for target market of the products.
MAIN BODY
Overview of proposed idea
The proposed idea for business is developing solar powered electric vehicle batteries.
These batteries get charged directly from sunlight and can be charged when vehicles are moving
under sunlight. This battery will be created with the same technology that is used at EV charging
infrastructure where EV’s are charged through solar power. This means that batteries will be
created that can be charged directly from sunlight. In addition to this product being created is
also focuses on ensuring limited cost and affordability of products.
Vision
“To create a affordable solution for electronic vehicle batteries”.
Objectives
 To achieve break-even point by 2021
 To develop 15% market share by 2022
 To reduce cost of production by 2021
Some of the criteria to consider viability of ideas include-
Clarity- This involves clarity of idea and idea developed is perfectly clear and can be
implemented practically.