New Venture Creation — Summer 2023

Discuss the typology of entrepreneurship ventures.

How can opportunities be identified and analyzed in a SWOT analysis for a new venture?

What are the potential challenges or risks associated with a niche business model?

What are the key characteristics of a good business model?

What is sustainable entrepreneurship and how does it differ from traditional entrepreneurship?

What are the different types of diversification strategies that businesses can pursue?

What is guerrilla marketing and how does it differ from traditional marketing strategies?

What are Smart Metrics and why are they Important to new venture?

What is the fundamental difference between a business model and a business plan?

What factors should businesses consider when selecting the most appropriate channels of distribution for their products or services?

What are the key risks and challenges associated with starting a new business? Page 1 of

Case Study: Launching New Electric Scooter by Prakasha Electronics Prakasha Electronics, a renowned manufacturer of electronic devices, embarked on a new venture to introduce an innovative electric scooter called "EcoRide." The company recognized the growing demand for eco-friendly transportation options and aimed to capture a significant share of the electric scooter market. This case study explores the launch of EcoRide, the challenges faced by Prakasha Electronics, and the strategies employed to ensure a successful market entry. Prakasha Electronics invested significant time and resources in developing EcoRide. The product development team focused on creating a stylish and efficient electric scooter that appealed to urban commuters. They conducted extensive research on battery technology, motor efficiency, and lightweight materials to ensure optimal performance and range. The design team worked closely with engineers to create a sleek and ergonomic scooter that offered comfort and convenience to riders. Prakasha Electronics conducted a thorough market analysis to identify the target audience for EcoRide. They recognized that the growing urban population, particularly in congested cities, presented a significant opportunity for electric scooters. The target audience primarily consisted of young professionals, students, and eco-conscious individuals seeking a cost- effective and environmentally friendly mode of transportation. To generate awareness and build anticipation for EcoRide, Prakasha Electronics employed various marketing strategies. They utilized social media platforms, online advertising, and influencer collaborations to reach their target audience. The company also organized launch events and test drive campaigns in major cities to allow potential customers to experience EcoRide firsthand. The marketing team highlighted the scooter's features, such as long battery life, quick charging, and smart connectivity, to differentiate EcoRide from competitors. Prakasha Electronics established partnerships with authorized dealerships and retailers across key cities to ensure widespread availability of EcoRide. They provided comprehensive training and support to their distribution network to enhance product knowledge and customer service. Additionally, the company offered attractive financing options and after-sales support to facilitate the purchase and ownership experience for customers. The launch of EcoRide by Prakasha Electronics was met with positive response and achieved significant success in the market. The innovative features, competitive pricing, and strong marketing campaigns contributed to its popularity. EcoRide garnered attention from both urban commuters and environmental enthusiasts, leading to impressive sales figures and market share growth for Prakasha Electronics. Prakasha Electronics' launch of EcoRide demonstrated the company's ability to identify market trends, develop a compelling product, and execute an effective marketing strategy. By focusing on product development, understanding the target audience, and building a strong distribution network, Prakasha Electronics successfully entered the electric scooter market and positioned EcoRide as a preferred choice among consumers. Page 2 of

How did Prakasha Electronics ensure that EcoRide's design and performance met the expectations of urban commuters?

What market analysis did Prakasha Electronics conduct to identify the target audience for EcoRide?

Describe the marketing strategies employed by Prakasha Electronics to generate awareness and build anticipation for EcoRide.

How did Prakasha Electronics ensure widespread availability of EcoRide and provide a seamless purchase and ownership experience for customers? Page 3 of