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Opportunity Analysis of New Business Venture 03068 Essay Example

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Opportunity Analysis of New Business Venture 03068

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Entrepreneurial behaviour theory, there are three major human capital requirements that may be assessed from the entrepreneur leading the idea of starting the new venture. These are general human capital, entrepreneurship specific human capital, and venture specific human capital (World Bank, 2010). The general human capital includes such qualities and requirements as education, managerial human capital, capabilities, and demographic control variables (Charles, 2002). The entrepreneurship specific human capital also includes entrepreneurial capability, parental background and attitudes, whiles the venture specific human capital includes knowledge of the domain and motivations (Secretariat, UNCTAD, 2008). Based on all these named areas of analysis, the following grading matrix can be given to the entrepreneur.The new venture brings onto the market a product named the Slate. The Slate is simply a customised young student version of a tablet computer. As a customised young student tablet, the product contains content of the preschool and early childhood educational syllabus that are often presented to and taught to the students in a manual manner. The value proposition for the product comes in several forms. In the first place, the Slate identifies and solves the issue of exposure of children to adult content whiles using the traditional or mainstream tablet computer. As the issue of age and content remains one of the most important for marketers (Liedholm & MacPherson, 2014), it is expected that the Slate will be seen as serving the right purpose for the right age group. Secondly, the Slate creates the value of inculcating information and communication technology skills in children at a very early age. As the world is currently experiencing a technological revolution, it is important that the younger generation will not be exempted from this modern experience. Last but not least, the Slate shall promote effectiveness and efficiency in the classroom during the delivery of curriculum lessons.According to Mambula (2007), every market has its own characteristics comprising behaviouristic, geographic, psychographic, and demographic characteristics. In order to capture all these isolated market characteristics into a common paradigm, the researcher shall make use of the 4Ps of marketing model or theory. The 4Ps of marketing gives a strategic identification and characteristics of the market made up of the people, place, product, and promotion to use. The

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preview essay on Opportunity Analysis of New Business Venture 03068
  • Pages: 8 (2000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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