Search Our Essay Database

Essay Instructions: Entrepreneurship and innovation subject
Please answer 4 Questions at the last page of case study

case study and class materials has been upload for the writer.
Any problem feel free to contact me all the time.
*** Prefer..... Writer?s Username: Christina Peter

Thanks

Essay Instructions: Entrepreneurship

A new spin on music

Following his graduation from an excellent university with a degree in entrepreneurship, Brian Wright was eager to launch a business. Brian always enjoyed working with new technologies as well as watching movies, playing video games, and listening to music. Because of the proliferation of online movie and video game rental services, he believed that a service providing the online rental of CDs made perfect sense.
Brian was confident that the success of the other rental services proved that there was a market for the online rental of entertainment media; therefore, renting CDs online would be an easy concept for customer grasp. Although Mp3s and MP3 players were growing in popularity, Brian knew that he and his friends preferred to listen to an album in its entirety; after all, Brian belived that “ any true fan of an artist would want the entire album.”

When calculating potential revenue, Brian concluded that the average retail price of a CD was approximately $14. If he charged $2 per CD per rental-which would offer an 85 percent savings to the customer based on the full retail price of a CD –he could recoup his costs within seven rentals.
In addition, Brian believed that he could negotiate contracts with the music labels to purchase CDs, in bulk at a discount, which would in turn reduce the time it would take for him to reach breakeven. He knew enough about music encryption technologies to know that restrictions could be built into CDs to deter people from copying songs from them. He decided that taking such precautions would alleviate any concerns that the music labels might have regarding piracy.
As Brian began discussing his idea with his friends, their enthusiasm convinced him that he needed to act quickly before someone else seized the opportunity. At $2 per rental and an estimated two rentals per customer per month, he would only need a little over 20.000 customers to reach 1.000.000 in annual revenue. After looking at his financial forecasts, Brian decided that it was time to bring his online CD rental service to market.

Questions

1. Has Brian completed the proper marketing research for his potential opportunity? Why or why not? Explain it!!!

2. Based on the case, are there key mistakes that you would caution Brian about? Explain.

3. What specific steps would you recommend to Brian for him to better access this opportunity?

Essay Instructions: Entrepreneurship

A new spin on music
Following his graduation from an excellent university with a degree in entrepreneurship, Brian Wright was eager to launch a business. Brian always enjoyed working with new technologies as well as watching movies, playing video games, and listening to music. Because of the proliferation of online movie and video game rental services, he believed that a service providing the online rental of CDs made perfect sense.
Brian was confident that the success of the other rental services proved that there was a market for the online rental of entertainment media; therefore, renting CDs online would be an easy concept for customer grasp. Although Mp3s and MP3 players were growing in popularity, Brian knew that he and his friends preferred to listen to an album in its entirety; after all, Brian belived that “ any true fan of an artist would want the entire album.”

When calculating potential revenue, Brian concluded that the average retail price of a CD was approximately $14. If he charged $2 per CD per rental-which would offer an 85 percent savings to the customer based on the full retail price of a CD –he could recoup his costs within seven rentals.
In addition, Brian believed that he could negotiate contracts with the music labels to purchase CDs, in bulk at a discount, which would in turn reduce the time it would take for him to reach breakeven. He knew enough about music encryption technologies to know that restrictions could be built into CDs to deter people from copying songs from them. He decided that taking such precautions would alleviate any concerns that the music labels might have regarding piracy.
As Brian began discussing his idea with his friends, their enthusiasm convinced him that he needed to act quickly before someone else seized the opportunity. At $2 per rental and an estimated two rentals per customer per month, he would only need a little over 20.000 customers to reach 1.000.000 in annual revenue. After looking at his financial forecasts, Brian decided that it was time to bring his online CD rental service to market.

Questions

1. Has Brian completed the proper marketing research for his potential opportunity? Why or why not? Explain it!!!
2. Based on the case, are there key mistakes that you would caution Brian about? Explain.
3. What specific steps would you recommend to Brian for him to better access this opportunity?

Essay Instructions: Analysis of an Entrepreneur (including presentation)
This is an individual assignment. Choose a new start-up firm and gather information about the person who started the company, the venture’s business model and the value created with its products/services. It should be around 10 pages. Grading will be based on the extensive collection and analysis of data as far as coverage of all questions raised below as guidelines for the homework. Any report based on secondary resources alone will not be eligible to gain any points from homework; you need to have “real” interview with the entrepreneur (in some case email or phone might be acceptable).

(1) Before you go to your interview, make a market analysis and write it. (Max 3 pages) 10 points
Please analyze the market the firm is operating in. This analysis needs to be documented in a detailed manner: report the facts/numbers/trends about the market in general. Then, discuss how you consider the context of the business.
The context requires recognition of:
A) cultural
B) legal/regulatory
C) political and
D) economic dimensions
For each dimension, you need to explain the diversity of the business the candidate entrepreneur is operating. If you cannot collect enough data on these topics, prepare questions for the entrepreneur and check with his/her responses. Never trust the data from the interviewee and always make a double check with the respectful data sources and report the gaps or overlaps.

(2) In the interview, ask the entrepreneur various questions to understand his/her business model (Max 5 pages). 10 points
Some relevant questions might be:
What is your short bio? What is your entrepreneurial project, give its history?
Who are your customers?
What is the main innovation in your project? In what stage is your company?
What are the relationships you have with suppliers and customers?
What are the problems you are facing in the commercialization process?
What are your plans for the near future (5 years ahead)?
Do you have anything to add about your venture and your plans?

(3) After the interview, imagine you are the entrepreneur. (Max 4 pages) 10 points
Please tell us the general understanding of the business and please list what might be other possible “alternative” solutions/product-service offerings you could develop as a business. What are the assumptions in the existing business and how you might treat them differently or establish an alternative business model? Please write at least one alternative model and describe your cultural, legal/regulatory, political and economic assumptions (all dimensions!).

Forecast the future: given the market and context analysis you have done, discuss if the interviewed entrepreneur will continue to be successful after five years. What might affect the success and how the entrepreneur can change consequences of changes in context or assumptions? Write a detailed account of each context and consequence you can envision.

(4) Supporting data, references (Max 1 pages)

There are faxes for this order.