Entreprenuership Report Essay Example | Topics and Well Written Essays - 2000 words

Entreprenuership Report - Essay ExampleThe securities industrying department set ups the patterns of demand in the market. This so informs the production in order set an appropriate supply for the products in the market. The report below discusses the crop of introducing a new product in an already existing market. In doing this, the report includes an extensive situational analysis, resource allocation, marketing, distribution among other indispensable operations that will help secure a substantial market for the new product.Introducing a new product in an already existing and active market requires the considerateness of various features of both the market and the new product. Marketing refers to a management function concerned with the determination, forecasting and satisfaction of the market demand. An appropriate marketing department should earn a product whether old or new a substantial size of the market capable of achieving the product profitability. Among the key fa ctors considered in the market research, include the name of the product, the price that must consider the cost of doing business and the profitability among other essential features of the market (Parente, 2005). Marketing is an essential department in the introduction of the new product the marketing group must carry out effective market researches and market analysis in order to determine all the factors that will influence the demand for the new product. This way, it advises other essential department in the bon ton such(prenominal) 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 throw off a higher purchasing power. The smart TV market can therefore sustain nevertheless a new product, which will compete effectively against the many other products currently in the market. However, such a market mak es informed