Entrepreneurial Opportunity Report: Organix Cream and Market Analysis

This report analyzes the entrepreneurial opportunity of Organix cream, a post-workout product, focusing on its market potential and competitive strategies. The report emphasizes the importance of competitive and economic sustainability, achieved through factors such as attractive packaging, high product quality, and competitive pricing. It discusses the need for innovative marketing strategies to reach the target customers and highlights the significance of market trends, production methods, and design in the success of the product. Furthermore, it explores the external factors, such as competitors, that may impact the marketing strategies and suggests ways to overcome these challenges. The report also references relevant academic sources to support its analysis, offering a comprehensive overview of the entrepreneurial opportunity.

Entrepreneurial
Opportunity

Entrepreneurial opportunity refers to the introduction of a new and innovative business
idea to fulfil aspirations of individuals by perceiving economic and social conditions. A new
business idea of a post workout cream named Organix created for a start up as a good
entrepreneurial opportunity (Thorp and Goldstein, 2013). To get success in the market it is very
important to get competitive and economic sustainability which is possible by attracting large
number of customers. Competitive sustainability can be achieved with the help of launching such
product which is compatibly attractive and more beneficial from others. In economic
sustainability a start up may get long term benefits like growth without affecting environmental,
cultural and social aspects of a community. For this purpose effective strategies should be
formulated to acquire economical advantages. It is very important for a start up to offer good
quality product on low price so that large number of customers get attracted toward them.
Organix which is a post workout cream is a new and innovative idea and it is going to be
launched in the market at low price and high quality to attain long term sustainability. There are
four different types of factors that are required to be consider to be competitive in the market.
These factors are best use of technology, following current market trends, using improved
production methods and attractive and creative design. Market trends are related to detected
propensity of financial marketplace. New product Organix is going to be produced and framed
according to emerged trends so that all the long term goals like customer satisfaction can be
achieved. Production methods are getting modified continuously as various innovative products
are launching in the market. Using varied methods can help to enhance the sales of product
because concept is already new and use of advanced techniques in manufacturing process may
help in future to attain competitive sustainability. Packaging and design are the two factors that
are required in be involved in the herbal cream which is a post work out cream (Suddaby, Bruton
and Si, 2015). This may help to be more attractive for the customers. The new idea is mainly for
the persons who work out regularly hence it is also very important to identify appropriate target
segment where the idea is going to be introduced. Effective marketing and promotional strategies
are required to communicate the innovative idea with the target customers which is important to
aware them about the product. Competitive and economic sustainability for Organix can be
acquired with the help of proper and effective policies in which key elements like attractive
packaging, good quality, lower price, innovative marketing strategies etc. are considered so that
long term goals can be achieved. External factors like competitors may affect the marketing
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strategies because they are already established in the market with good image and it is very
difficult to make customers switch from their old products.
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REFERENCES
Books and Journals:
Suddaby, R., Bruton, G. D. and Si, S. X., 2015. Entrepreneurship through a qualitative lens:
Insights on the construction and/or discovery of entrepreneurial opportunity. Journal of
Business venturing. 30(1). pp.1-10.
Thorp, H. and Goldstein, B., 2013. Engines of innovation: The entrepreneurial university in the
twenty-first century. UNC Press Books.
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