Overview of Entrepreneurship (GC072)
Table of Contents
1.0. Executive summary.
2.0. Introduction.
3.0. Definition of Entrepreneurship.
3.1. Meaning of SME.
4.0. Literature review.
5.0. Marketing strategies.
5.1. Marketing segmentation.
5.2. Target market.
6.0. Marketing Mix.
6.1. Product.
6.2. Pricing.
6.3. Place.
6.4. Promotion.
7.0. Risk analysis.
8.0. Conclusion.
9.0. References.
10. Bibliography
1.0 Executive summary
As an entrepreneur, our main target is to create a walker crisp business in Bangladesh. Walker is a UK crisp company that has huge opportunities to begin a small business in Bangladesh. A large amount of Bangladeshi people likes foreign food especially when it’s crisp and snacks. Before starting this business we have been analyzing the target market, market segmentation, marketing mix, marketing strategy, and possible business opportunities, etc. For instance set up small businesses in Bangladesh this assessment has been identifying potential business risks, threats, and including several business-related questioners that entrepreneurs may need to give their answer.
2.0 Introduction
As an entrepreneur, I would like to bring Walker crisps business to Bangladesh. Walkers are the biggest food brand in the UK as well as the fourth part main business division in the PepsiCo group (Funding Universe, 2013). “The company principal trademark has apprehended its highest place in the global snacks and crisps division” (Mintel Oxygen, 2013). As a successful entrepreneur, I think Bangladesh is a potential market and it has huge opportunities for Walker’s crisps business. Bangladeshi people especially the young generation are more interested in foreign products. In order to do this business at first, I have to analyze market segmentation, marketing mix, target market, and business opportunities, etc.
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3.0 Definition of entrepreneurship
Entrepreneurship means the process of starting and running one’s own business. According to Stokes and Wilson, (2010)“An entrepreneur is the people who destroy the current financial directive by presenting innovative goods and services, by introducing different approaches of manufacture, by generating original methods of the group or by abusing new rare resources”.
On the other Coulter, M (2012) says that “One who generates an innovative industry in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them”. Any person could be an entrepreneur in the world. For example, Bill Gates founder and chairman of Microsoft, Richard Branson founder of Virgin Group, Lary Page founder of Google so on. They are successful entrepreneurs in the world.
3.1 Meaning of SME
SME means a small and medium-sized enterprise. SME describes to us how small business management runs their organization. According to Stokes & Wilson(2010) “those enterprises have certain characteristics and management issues in common that distinguish them from other organization”. Small business turnover and balance sheets will be €50m and €43m as per European Union law (The European, 2013). SMEs also include with number of employees, sales turnover, number of customers, the value of assets structure of management, production, and level of energy combination (Wilson, 2011). To open a new business we should need to consider those criteria………….
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