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

Entreprenuership Report - Essay ExampleThe tradeing department determines the patterns of demand in the trade. This therefore informs the production in order set an book supply for the products in the market. The report below discusses the process of introducing a new product in an already existing market. In doing this, the report includes an extensive situational analysis, choice allocation, marketing, distribution among other congenital 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 consideration of various features of both the market and the new product. Marketing refers to a management function concerned with the determination, foretaste 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 factors considered in t he 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 team 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 accompany such 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 res publica is a developed economy this implies that the people have a higher purchasing power. The smart TV market can therefore sustain provided a new product, which will compete effectively against the many other products currently in the market. However, such a market makes informed