Entrepreneurial Opportunity: SAGAN Smart Glasses Market Analysis

This report assesses the market attractiveness of SAGAN, a brand of smart glasses designed with automatic focus adjustment for individuals with vision problems. The report highlights the unique features of SAGAN glasses, including their suitability for both short-sighted and long-sighted individuals, protective covering, and warranty. It outlines various marketing strategies such as advertising, a mission-driven approach, price differentiation, market segmentation, and customer testimonials. The distribution channels include parcel delivery systems, sales agents, and plans for establishing chain stores. The report also discusses sources of capital for business expansion, including reinvesting profits and obtaining bank loans. The conclusion emphasizes the importance of adhering to entrepreneurial practices to enhance market attractiveness. Desklib provides access to similar solved assignments and past papers for students.

Running Head: ENTREPRENEURIAL SKILLS 1
ENTREPRENEURIAL OPPORTUNITY
STUDENT’S NAME
COURSE
UNIVERSITY
DATE

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MARKET ATTRACTIVENESS
INTRODUCTION
Our group is going to discuss the concept of market attractiveness in entrepreneurship which is
the basic feature for the success of all the products that are offered by entrepreneurs in the
business world. According to Olavarrieta (2015). Market attractiveness refers to the ability of the
product to influence the purchasing decision from the target consumers from its various aspects
within a given market segment. For a product to be competitive in the market, there are several
aspects that need to be present (Appadu, et al., 2016). The product should have unique features
that can attract the target consumers especially in the situation where there are many similar
products in the market. The product should also satisfy the need of the customers (Sharma, Sraha
and Crick, 2018). This presentation is going to focus on the product by the brand name SAGAN
which is the smart glasses that can automatically adjust the focus on what a person is seeing and
has many unique features that make it more attractive for the consumers in the market.

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SAGAN
This is the product that we as entrepreneurs would wish to offer in the market. The special
glasses are good for people with eye problems especially those who have blurred vision and
those who can’t be able to read certain fonts. The smart glasses are unique as compared to others
because they automatically adjust the focus on the object or anything a person is looking at or
reading for a clear vision. The screen has got sensors that can determine whether the pupil is
straining to see and adjust accordingly till the person obtains a clear view of the object or
anything he or she is looking at.
Features
Some of the unique features of the smart glass are:
Can be used by both the short sighted and long sighted people due its automatic adjustment
nature
It has a covering that protects the glass from cracking when it fells on the ground accidentally
One year warranty after purchasing
The more expensive it is the more the quality since there are various types of glasses used and
they do vary in strength and quality.

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Marketing strategies
As entrepreneurs we have formulated various marketing strategies for our product (Guo, Deride
and Fan, 2016). This is because it creates an awareness about the product in the market hence
attracting consumers. Some of the marketing strategies are as outlined below:
Advertisement
We have advertised our products through various ways such as social media, television, bill
boards and even in newspapers and we belief that our product shall attract many people.
Our mission
Our mission itself is a very unique strategy for marketing out product in the competitive external
business environment. Our mission is to offer a perfect solution to your eye sight problems
through our perfect automated adjustment smart glasses to suit the focus of your choice.
Price differentiation
The price for the product vary with the consumer’s tastes and preferences hence enabling the
consumer to make a choice in relation to purchase of the product.
Market segmentation
We offer our products to eye hospitals at a whole sale price which facilitate our continuous
production.

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Customers’ own experience
We have our business magazine where customers usually share their experience after using the
smart glasses and this have influenced many to try our products and we belief that they have
never been disappointed with our products.

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Distribution Channel
This is usually a very significant aspect that enhances the success of the business enterprise in
the competitive business environment. We usually distribute our smart glasses through:
Parcel delivering system
Once an order is made, we pick the client’s address and deliver the product to him or her. This is
usually important because it saves the business transportation cost that would have been incurred
since the parcel delivery is usually cheaper means (Runyan, Finnegan and Rodrigues, 2015).
Use of sales agents
We have our sales agents in all our target markets who promote our products and sell to the
customers. This has been beneficial for our business because it has enhanced quick movement of
inventory creating more space for manufacturing facilitating continuous production hence profit
maximization.
Chain stores
We are planning to establish various stores in various countries to increase the production so as
to be able to supply our products via the chain stores which shall see the business expanding with
time.

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Sources of Capital.
Expansion of the business requires additional capital apart from the revenue generated from the
business. We generate capital for expansion through:
Ploughing back of profits
We usually re-invest the profit back to the business instead of sharing it amongst ourselves.
Bank loan
In order to set up various chain stores in several parts, we shall obtain a bank loan to boost our
savings.
Conclusion
By adhering to all the entrepreneurial practices, we hope for the best in our objective of
enhancing market attractiveness for our products.

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References
Appadu, N., Faelten, A., Moeller, S. and Vitkova, V., 2016. Assessing market attractiveness for
mergers and acquisitions: the M&A Attractiveness Index Score. The European Journal of
Finance, 22(8-9), pp.732-755.
Guo, Z., Deride, J. and Fan, Y., 2016. Infrastructure planning for fast charging stations in a
competitive market. Transportation Research Part C: Emerging Technologies, 68, pp.215-227.
Olavarrieta, S., 2015. Market attractiveness, resource-based and evolutionary approaches to
strategy: a comparison. In Proceedings of the 1996 Academy of Marketing Science (AMS)
Annual Conference (pp. 149-153). Springer, Cham.
Runyan, R.C., Finnegan, C. and Rodrigues, A.M., 2015. Environmental Uncertainty and Market
Attractiveness: Do Regions Matter? In Marketing in Transition: Scarcity, Globalism, &
Sustainability (pp. 302-302). Springer, Cham.
Sharma, R.R., Sraha, G. and Crick, D., 2018. Export promotion programs and the export
performance of Ghanaian firms: The mediating role of foreign market
attractiveness. International Marketing Review.