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Entreprenuership Report

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This way, it advises other essential department in the company such as the production department on the quantity of products and the features to incorporate in such products in order for the products to gain profitability desired.United Kingdom is a developed economy; this implies that the people have a higher purchasing power. The smart TV market can therefore sustain yet a new product, which will compete effectively against the many other products currently in the market. However, such a market makes informed purchasing decisions. The consumers will therefore consider several features of the new product in order to ascertain the product’s appropriateness in the market. Additionally, the cost of labor is equally high in such a market (Homburg, Sabine & Harley, 2009). Coupled with detailed legislations requirement in the country, the cost of doing business may therefore become higher especially for a new company that seeks introduction in a market that existed for more than a century with active participants.Atlas TV is a new smart TV entering the market for the first time. In order to develop an effective report, the introduction of the new product and its sustenance in the new market requires the consideration of several assumptions in order to position the new product strategically in the market in order to achieve the desired profitability. Among the key assumptions is the size of the competition. Currently, the smart television brands in the United Kingdom include sonny, Samsung, Toshiba, Philips among many others. This implies that the market has an active market with numerous established products that will therefore offer sizeable competition for the new smart television. However, for the sake of the introduction of the new product, the competition should remain constant for the transition period at least until the new product establishes its market share. Such is an assumption, which may not materialize, but the marketing department will assume that no new product will enter the market any time soon in a bid to help make informed marketing and production decisions.Other essential assumptions will include low-cost of doing business. The government of the United Kingdom has various laws governing the operations of new companies including specific tax regimes that will definitely affect the profitability of the new product. In developing the report, the cost of doing business must remain substantially low
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preview essay on Entreprenuership Report
  • Pages: 8 (2000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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