Entrepreneurship Innovation and Marketing Assessment †Free Samples

Question: Discuss about the Entrepreneurship Innovation and Marketing. Answer: The first company selected for assessment is Mastery Science: It is an education provider company for the children. They tend to provide information about everything which they want to know(Mastery Science 2017).Mastery Science collects evidence of every scientific innovation and makes it available to children so that can answer their queries about the subject. Company has procured $2 million till June 2017(Mastery Science 2017). Market opportunity of Mastery Science is enormous as there are innumerable students and children who are pursuing education in science stream(Mastery Science 2017). All the high schools and colleges have significant number of students who can become potential clients for Mastery Science. It has enormous opportunity for business as education is perpetual.Students will get maximum help from the portal of Mastery Science who will communicate with their peers to use this website. This will create another market opportunity for Mastery Science. Mastery Science has a target market of students all over the globe. Every student pursuing science stream in any part of the world comes in the ambit of target market of mastery science(Mastery Science 2017). Latest scientific knowledge is the requirement of every science student hence its market is huge.Research scholars and scientists working in research institutes tend to search factual information about new discoveries in the field of science. Mastery Science can target them through seminars and advertisements. There is always a requirement for a reliable source of scientific knowledge. Articles and information available on internet is not always authentic especially in the case of science(Mastery Science 2017). There are many theories whose validity is not confirmed. This is why students will subscribe the services of Mastery Science. In the field of science factual data and authentic information is everything. Mastery Science may keep chennels and services about the details of experiments and scientific discoveries. Subscription of services and products are charged by the students.Each product and service has a price and a period of expiration(Mastery Science 2017). Students who have subscribed the course, material, notes, lectures and video lectures pay via online transaction to gain full access of the information. This is how Mastery Science will make money. Second company selected for assessment is Tpaga: It is a mobile wallet company which provides payment solutions on smartphones in the Latin American Companies (Tpaga 2017). It has the advantage of the market as it is the first startup of payment solutions for unbanked citizens of Latin America.It has earned $2.25 million in three rounds (Tpaga 2017). Since, it is the whale in the mobile wallet market in Latin America it has enormous opportunity for business. Being the first startup company to provide mobile wallet services even to the unbanked consumers gives a lot of leverage as there is a huge number of people who are unbanked in Latin America (Tpaga 2017).Tpaga can create its own market opportunities by offering its users some promotional codes and offers in the beginning. This will attract many consumers to use this application. People in Latin America are comparatively poor than citizens of the West. They know less about the new technology of mobile wallets and mobile banking (Tpaga 2017). Targeting those citizens and educating them about this new system will create a new market all for Tpaga itself. Youth of Latin America is the biggest target market Tpaga can exploit. Young people are more attracted towards gadgets and new services. They are keen on learning and using new technology which can make their work easier and also looks cool on their part. Tpaga complies with all their psychological needs which can harness a great untapped market. As per the changing trend of the payment system across the world people will need to subscribe the services of Tpaga as it makes the payment system much easier and secured than other systems of payment (Tpaga 2017). This will make people use Tpaga most frequently to make payments. Tpaga is a mobile wallet company and gets commission for each transition made by its users. Any form of payment or transfer of money from one person to another holds a commission of certain amount which is received by Tpaga (Tpaga 2017). If the number of users increases then Tpaga will make huge money. Advertisement on its app is also a great source of revenue which Tpaga can explore and earn. Popular apps tend to have advertisements on their user interface for which they get paid by the endorsing company. Third company selected for assessment if Dahmakan: Dahmakan is a Kuala Lumpur based company which is known to redefine the food processing industry in Asia. It is contributed by leading Vice Chairman from Europe, US and Asia. They provide read-to-eat meals in South East Asia which helps people of all class to stay healthy. They have made $1.3 million in this year (Dahmakan.com 2017). Market is always available for Dahmakan as people will always require food to live. There is no end to its opportunities of business rather it will grow day by day as they become popular(Dahmakan.com 2017). It is the basic necessity that they cater to which is ever lasting.Expansion in the type of cuisines offered by Dahmakan to its customers can expand the market opportunity for the company. Many people of different ethnicity prefer to eat cuisines of their native place which is hard to find in foreign countries. Dahmakan can provide them with that to increase their market base. Dahmakan target people who are working and students who live alone in hostels and as paying guests. People who do not have time to cook or the means to cook is the targeted market for Dahmakan(Dahmakan.com 2017). As the working culture is developing in South East Asia people are more inclined toward pre-cooked food.Dahmakan can also put up stalls of food in office areas and park areas where people hang out during their office break times and for recreational purpose. This will highly improve their customer base and there is also scope of automatic advertisement. Working people living in big cities have to travel long distances to reach their places of work. They do not get time to cook for themselves. Eating good food is requirement of everyone which is provided by Dahmakan(Dahmakan.com 2017). They also make it available to their customers very easily. This is why their product is sold and is famous. Making money is very simple for Dahmakan as it is a give and take business. Dahmakan sells food to its customers who pay for the product(Dahmakan.com 2017). Vegetarian and non-vegetarian food items have different costs and hence it is paid accordingly as per the sale of the item.Dahmakan can start their online portal for food delivery in which online payment can be done which will increase their revenues a great deal. Fourth company selected for assessment is VIDA: VIDA is an e-commerce platform which deals in the direct-to-fabric system which effects the high level production of designer apparels from across the world. VIDA coverts the design of apparel to its real form in the fabric. It has made $120 thousand till July 2017(Vida.com 2017). Fashion Industry is one of the largest industries of the world. VIDA gives a new dimension to the fabric designing system through which any design can be converted into an apparel which can be adorned by models and people all around the world without much problem(Vida.com 2017).Various movie and theater industry have the requirement of custom made apparels for the specific plays and scenes in their movies. VIDA can easily market its products there which can be a potential buyer of its products on a long term basis. Many aspiring fashion designers and apparel designers are not able to showcase their art due to lack of resources. VIDA provides a medium for them to explore their art of fabric designing (Vida.com 2017). The target market for VIDA is all the big fashion designing and textile manufacturing companies. VIDA can target people working in corporate and business ventures who require a specific type of design and material for their clothes. Business meetings and corporate parties have dress code which needs to be complied by the attendees. VIDA can give them the proper wardrobe solution. Designers are creative people who create designs on computers and on paper. But to print the same design or to obtain the same design of fabric is a matter of grave concern for them (Vida.com 2017). This is why they will use the services of VIDA and buy its products as they can create any design provided to them on a fabric. VIDA is going to charge its customers for the printing of design provided by them. It may be in the form of a service or a product which can be charged accordingly (Vida.com 2017). Since it is a rare thing to ask for and is a difficult task VIDA can earn good amount of money if they do their job as per the satisfaction of the customers. Custom made designs and apparels have taken the online world by a storm. Custom made anything is more costly than the general product. VIDA can charge its customers for the type of customization they need in their product. Fifth company for assessment is Fat Lama: Fat Lama is a company which for rental market place for high-end items based on peer-to-peer mode. Items on Fat Lama are fully insured and authentic. It provides platform for rental of items without the use of shops. It is much cheaper and efficient solution. It has secured $1.59 million in 3 rounds till June 2017(Fatlama.com 2017). Market for Fat Lama is very open and has sound opportunities. There are a number of people who want to rent their items and there are also consumers who want such items on rental basis (Fatlama.com 2017). As the popularity of Fat Lama grows such a trend will be created and a new rental market will be generated. Being an online portal for renting goods it reaches to everyone who owns a smartphone or knows how to use internet. Fortunately today maximum people know how to do both. This helps in expanding the market opportunity for Fat Lama. Fat Lama targets people who used to have small factories and industries with heavy machineries (Fatlama.com 2017). But Fat Lamas market is not restricted to that. Any item which is used for generic purposes can be rented on the platform and hence it makes it a huge market to target on. Junkyard is also a place where products and goods in working condition are found and can be rented. Fat Lama can target the workers and owners of junkyards or places similar to that. At every place, consumers of different financial conditions live. The ones who cannot but everything they want to or need to use try to take on rental such as an apartment or a car(Fatlama.com 2017). Fat Lama provides them with this facility. It will become very famous in very less time. As it can be observed every middleman keeps his cut of the deal as commission (Fatlama.com 2017). The same way Fat Lama will keep a commission which may be added in the rent of the product the user will have to pay for using the services of Fat Lama and even that particular product. Being an online website or a mobile application gives Fat Lama, prospect to earn from advertisements is there. Local companies can endorse their ads on the user interface which are paid to the company. More users will fetch more ads to Fat Lama. Sixth company for assessment is ADVANO: ADVANO is a high end technology company which combines nanotechnology with chemical engineering to provide better solutions for renewable energy and bring revolution in the field. ADVANO is based in silicon valley employing best minds in the field, has got equity funding and has earned $1.05 million in 3 rounds from 7 investors (Advanotech.com 2017). Since the change of energy resources is reaching its peak the business opportunity is humungous for ADVANO (Advanotech.com 2017). Use of renewable energy resources are finding places in the hearts of every economically sound country and it is an inexhaustible product which ADVANO is creating to stay in the business. Environment protectors have made huge issues relating to the use of conventional sources of energy and carbon footprint. In this case ADVANO can make a market for itself in the countries or places where huge carbon emissions take place. Every country whose conventional energy resources is getting exhausted or near to exhaustion is a potential market for ADVANO (Advanotech.com 2017). The product being offered is the most basic one for continuance of life of people which is renewable energy. So there is a well-established market available for ADVANO to sell its products. Huge industrial areas and countries where heavy duty production takes place are the best places to target for ADVANO. These countries need to change their conventional mode of energy generation and can prove to be a giant market for ADVANO. Renewable energy is a product which needs no introduction. Every country or organization in the world is inclined to use renewable energy for environmental reasons as well as for the business purpose (Advanotech.com 2017). There is very less fossil fuel available as compared to the use and population. It serves as the best alternative. ADVANO creates solutions to harness and develop renewable energy by using nanotechnology and chemical engineering (Advanotech.com 2017). They can either sell the products that can create renewable energy or they can sell the technology to a country or a company who operates in this field of business and make huge profits out of it. Seventh and the last company for assessment is Py: Py is a lean-to-code mobile app and a startup company which is established recently. It offers courses of programming languages such as Python, Java Script, HTML/CSS and Swift. Since it has been established recently in August 2017 its financial gains and money earned is not disclosed yet(Downloadpy.com 2017). Being a startup company it has enormous market opportunities which the company can bank upon(Downloadpy.com 2017). Development of information technology and computer savvy systems the demand for programming languages has become a basic need and Py caters to that need quite well. College students who need help like tutorials to learn the programming languages where these things are not taught in details can provide be to a market opportunity for Py. Target Market of Py is the developers and programming associates who work in IT companies and write code for them(Downloadpy.com 2017). Evolution of software market demands learning of new languages from time to time.So the market is evergreen for Py to develop and grow its business. Py can organize seminars and events to educate students and enthusiasts to make them realize the importance of programming language. This in turn will inspire new people to enroll and subscribe to their courses. Online courses are in vogue. People tend to learn different courses online by paying them the subscription charges and viewing video lectures. It gives them the flexibility of time and place. They can start and end the lecture as per their convenience. This will make them subscribe to the services and products of Py (Downloadpy.com 2017). Py is going to charge its views and subscribers to enroll into the different courses of languages offered by them on their portal or website. They can provide them with notes and full access to the services of Py. The payment made by subscribers is the basic earnings of Py(Downloadpy.com 2017). References Advanotech.com 2017.Advano: Advancing Nanotechnology. [online] Advano: Advancing Nanotechnology. Available at: https://www.advanotech.com [Accessed 8 Sep. 2017]. Crunchbase.com 2017.crunchbase accelerates innovation by bringing together data on companies and the people behind them.. [online] Crunchbase.com. Available at: https://www.crunchbase.com [Accessed 8 Sep. 2017]. Dahmakan.com 2017.Healthy food delivered | Order now | dahmakan. [online] Dahmakan.com. Available at: https://dahmakan.com [Accessed 8 Sep. 2017]. Downloadpy.com 2017.Py: Learn on the Go. [online] Downloadpy.com. Available at: https://www.downloadpy.com [Accessed 8 Sep. 2017]. Fatlama.com 2017.Fat Lama | Rent Almost Anything. [online] Fatlama.com. Available at: https://fatlama.com [Accessed 8 Sep. 2017]. Mastery Science 2017.Blog - Mastery Science -. [online] Mastery Science. Available at: https://www.masteryscience.com [Accessed 8 Sep. 2017]. Tpaga 2017.Tpaga | crunchbase. [online] Crunchbase.com. Available at: https://www.crunchbase.com/organization/tpaga [Accessed 8 Sep. 2017]. Vida.com 2017.Vida Health Coach. [online] Vida.com. Available at: https://www.vida.com [Accessed 8 Sep. 2017].