Identifying Entrepreneurial Opportunities: Coronus Motors Case Study

This assignment focuses on identifying entrepreneurial opportunities, particularly within the context of Coronus Motors, a hypothetical company introducing biogas-powered vehicles. The solution begins with an introduction to entrepreneurship and entrepreneurial opportunities, emphasizing the role of innovative ideas and the importance of securing financing. The core of the assignment involves a gap analysis, a crucial concept for entrepreneurs planning new ventures, and the data needed to support it. The assignment includes a questionnaire designed to gather data on consumer awareness, preferences, and satisfaction related to the proposed biogas vehicles. The collected data is then interpreted, drawing on both primary and secondary sources, to assess market viability and consumer interest. The analysis highlights key themes from the questionnaire responses, such as awareness of biogas, factors influencing purchasing decisions, and customer satisfaction. The conclusion emphasizes the dynamic nature of modern markets, the importance of technological advancements, and the opportunities available to entrepreneurs who launch innovative business ideas. The assignment underscores the importance of market research and data analysis in the entrepreneurial process.

Identifying Entrepreneurial Opportunities

 Introduction
 Data needed to support gap analysis
 Interpret data appropriately
 Conclusion
 References
Table of content

An entrepreneur is a person who is willing to initiates a new business venture or add some value in their
existing goods and services and take risks. Whereas, entrepreneurial opportunities refers to the link
between person's idea and economic factors that prevails them to efficiently work on their own business
and innovative idea. As a budding entrepreneur, a person establish a new business on the basis of
innovative idea as they thinks to introduce vehicles that are running on biogas as an alternate option of
fuel. This idea can be presented to Virgin money for the proper financing and operating business within
short period of time.
Introduction

Gap analysis defined as a effective concept which is used by an entrepreneur while they planning to
launch new business idea within the marketplace. It will assist them in ascertaining several variances
between current as well as desired future performance of a business idea. Within the context to launch of
Coronus Motors in London, as there are numerous aspects that are related to the market scenario which
require to be considered by an entrepreneur.
Data needed to support gap analysis

Continue…
QUESTIONNAIRE
NAME:
AGE:
GENDER:
Q1) Are you aware about the use and scope of biogas in vehicles that being manufactured by the Coronus Motors?
 Yes
 No
Q2) What is the factor that you generally look upon the most while purchasing car?
 Environment friendly
 Effective waste management
 Low price
Q3) Are you think that offerings of Coronus Motors economically sustain?
 Yes
 No
Q4) What factor influence most while making purchasing decisions?
 Income
 Safety standards
 features of car
Q5) Are you satisfied with the innovative products of Coronus Motors?
 Yes
 No
Q6). Recommend any suggestions for the betterment of Coronus Motors.

 An entrepreneur collects informations from the different sources while launching a new business idea.
These data helps businessman in gathering informations with the appropriate time of introducing new
car in London to get huge attention and interest of people. There are mainly two sources of data
collection which is primary and secondary. In respect of Coronus Motors following data is gathered
such as follows:
 The new and unique car launched by a businessman facilitates customers the innovative features and
use of biogas in running their vehicles along with the various different aspects. It is considered as an
innovative idea because not yet launched by other businesses till now or the only few companies that
manufactures buses and coaches to choose biogas as an alternate choice of fuel such as Scania. Thus,
Interpret data appropriately

Interpretation of the questionnaire:
 Theme 1: Awareness about the use and scope of biogas in vehicles.
Continue….
Q1) Are you aware about the use and scope of biogas in vehicles that being
manufactured by the Coronus Motors?
Frequency
 Yes 25
 No 15

 Theme 2: Reason that influence customer decisions.
Continue….
Q2) What is the reason that you generally look upon the most while purchasing
car?
Frequency
 Environment friendly 12
 Effective waste management 7
 Low price 21

 Theme 3: Economic sustainability of offerings.
Continue….
Q3) Are you think that offerings of Coronus Motors economically sustain? Frequency
 Yes 23
 No 17

 Theme 4: Factors for making buying decisions.
Continue….
Q4) What factor influence most while making purchasing decisions? Frequency
 Income 12
 Safety standards 15
 features of car 13

 Theme 5: Customer satisfaction.
Continue….
Q5) Are you satisfied with the innovative products of Coronus Motors? Frequency
 Yes 32
 No 8

It can be summarised from the above discussion that in the modern world, competition and technological
advancement is very fast so entrepreneurs have huge market opportunities which can be considered as an
advantages of being successful by launching a new business idea.
Conclusion