New Venture Creation Essay

3683 Words Mar 18th, 2015 15 Pages
| AIB student ID number: | A001324635 | | | Student name: | Patries Ramkaran | | | Course name: | MBA in Entrepreneurial Management | | | Subject name: | New Venture Creation | | | Subject facilitator: | Priscilla Bahaw | | | Teaching Centre: | School of Higher Education (SHEL) | | | No. of pages: | 27 | | | Word count: | 2491 | | | DECLARATION | I, the above named student, confirm that by submitting, or causing the attached assignment to be submitted, to AIB, I have not plagiarised any other person’s work in this assignment and except where appropriately acknowledged, this assignment is my own work, has been expressed in my own words, and has not previously been submitted for assessment. …show more content…
It concludes that a new venture can only become a reality if the problems are identified in marketplace, opportunities are identified which are attractive, there is high growth potential and sustainability of the product or service.
It is recommended that a detailed business plans be formulated to aid in the assessment the viability of a new venture regardless of industry before commencement of operations.

Table of Contents

Executive Summary ii Table of Contents iii 1. Introduction 1 2. Discussion 2 2.1 Executive Summary 2 2.2 The Industry and the Company and its product(s) or service(s) 3 2.2.1 The Industry. 3 2.2.2 The Company and the Concept 3 2.2.3 The Product 4 2.2.4 Entry and Growth Strategy 4 2.3 Market Research and Analysis 4 2.3.1 Customers 4 2.3.2 Market Size and Trends 5 2.3.3 Competition and Competitive Edge 5 2.3.4 Estimated Market Share and Sales 5 2.4 The Economics of the Business 6 2.4.1 Profit Potential and Durability 6 2.5 Marketing Plan 6 2.5.1 Overall Marketing Strategy 6 2.5.2 Pricing 6 2.5.3 Sales Tactics 6 2.5.4 Service and Warranty Policies 6 2.5.5 Advertising and Promotion 6 2.5.6 Distribution 7 2.6 Design and Development Plans 7

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