Venture Development Proposal - Reflective Writing
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Added on 2020-10-22
Venture Development Proposal - Reflective Writing
Added on 2020-10-22
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Venture developmentproposal - reflectivewriting
Table of ContentsTopicPageSection 1: Introduction1.0: Introduction to idea and also itsproposed development1Section 2: Opportunity Formation2.1: Problems perceived in market42.2: Origins of entrepreneurialopportunity42.3: Business Model Canvas5Section 3: Opportunity DevelopmentSection 4: Conclusion4.0: Conclusion9Section 5: REFERENCES5.0: REFERENCES9
SECTION 1 - INTRODUCTIONVenture development is a term that is being described as activity of economic development thatis being focused on using of best practices and also activities of business mentoring that isexperienced (Abor, 2017). It also includes investment of capital that helps in creating newventures that leads in creating economic wealth of a particular state or country. Thus, in thisreport introduction of new product in terms of bamboo toothbrush has been discussed. In thisreport, introduction to new idea and proposed plan is been discussed. Further, opportunityformation is analysed with help of Business canvas model along with future plans.1.0 Introduction to idea and also its proposed developmentThe idea that I generated is to ditch the plastics and move further to bamboo as it is eco friendlyand leads in saving the environment to great extent (Dudin and et.al., 2015). This idea is beingproposed as it has been analysed in a study that shows that from all the materials that is used,bamboo is termed as least hazardous in terms of waste. This is because it can be recycled and donot have any type of problems related to disposal. The roots that are involved in bamboo helps incontrolling the soil erosion as it leads in creating water barrier. In addition to this, I also analysedthat proposing bamboo toothbrush is an excellent choice that may help in maintaining pollutionfree environment. These toothbrushes are eco-friendly as it contains following elements-They are non toxic and BPA freeThey are usually made up of sustainable and organically grown bamboo.They are also finished with quality and dental grade bristles that can be easily recycled.These bamboo brushes are biodegradable.They are also naturally antimicrobial.I have proposed this plan of selling bamboo toothbrush in order to save the environment fromnatures harm and have a long living and healthy surroundings for the people. Further, I have alsoadopted unique value proposition in order to sell this toothbrushes so that large number ofcustomers are attracted towards a particular brand. Unique value proposition is termed as a shortstatement that has been encompassed the benefits that is related to services that has beenprovided and also helps me in differentiating myself as compared to competitors that areavailable. Thus, to set unique value proposition in my brand, I will have to adopt few ways that1
will lead me in figuring out unique value proposition that things has been discussed as per belowcontext-Focus on customers- I will first have to analyse my customers that are willing to buy myproduct or service that is bamboo toothbrush (Hallen, Bingham and Cohen, 2016). Later,I will try to market to the target or potential market rather than marketing to everyone. If Itry to market my product to all the customers that are available than noise gets shatteredand no one concentrates on my product. This also leads me in wasting my maximum timeand huge amount of resources. Therefore, I will have to concentrate on targetedcustomers, their information related to demographic, income, statistics, age andaccordingly set value proposition. Later I will have to try to run it in small group ofcustomers in order to ensure that it come across with those consumers that I actually wantto reach.Reaching new markets: It is another major opportunity which the organisation and thebusiness will receive. Reaching new markets can help the organisation to gain newcustomers and tell them about the product. The bamboo toothbrush is a product whichwill easily gain attention because of its natural identity. A lot of people today make use ofproducts are not clean and safe for the environment but the bamboo toothbrush is safeand secure. It can help the organisation to reach new markets and gain new growthaltogether.Buying perception of a customer- I will have to find myself separate from mycompetitors and will also have to know who they are and what they stand for. I will alsohave to research on what competitors are trying to sell, their vision, mission and also theirvalues. This identification also includes type of workers they have. I cannot make anytype of mistake by assuming that there is no competition in the market of eco friendlytoothbrush. While writing unique value proposition, I will also have to find aboutconnection of customers in order to buy my products rather than my competitors.Solving needs and pain points by product or services- after analysing the perception ofcustomers in order to buy a particular product, I also had to analyse that how my productcan solve the problem related to environment and also about pain point of customers. Iwill also set price in such way that it will be termed as affordable than that of competitorsproducts. Every business supplies the best product. Therefore, I have to focus on2
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