Entrepreneurial Strategy: Generating and Exploiting New Business

Posted by The New Economics Education

One important effort in entrepreneurship are new ventures, new businesses include: 1. offers all new products to market; 2. offer an existing product; 3.menciptakan a new organisasai regardless of whether the product is new to competition or consumers.

Creation of a New Business Opportunities
Resources as a source of competitive advantage, when a company starting a new business, these resources can be combined to provide the capacity for firms to achieve superior performance yng, that resource becomes the basis of superior performance over its competitors, resources must be valuable, rare and can not be imitated.

To make a note of the growing business market and technological knowledge, and assess the benefits from new business opportunities.

Strategy for the Exploitation of Business New Business
Source of competitive advantage is to be the first in introducing new products or creating new business for the new venture could allow a profit that could improve performance. Hi this include:
  1. Develop an early mover advantage means the cost to be the first to sell a product on the market   
  2. Early mover competitive competition, the first few customers continues to grow and will eventually disappear 
  3. Early mover in the use of distribution channels, since the beginning have the opportunity to choose and develop strong relationships with suppliers and distribution channels of the most important.  
  4. Early mover in consumer satisfaction with goods dihasillkan taste, according to market share target  
  5. Early movers gain the skills learned through participation in existing products, to monitor changes in the market that it becomes difficult, building a network.
Consumer uncertainty and disadvantage First Mover
Introducing new products to the market that involves all the elements and there is no uncertainty for consumers about new products that are not convinced that the new product has the advantage of old products, and consumers are reluctant to move new keproduk, the proper way to introduce new products with advertising that is often through the media print and electronic, and with the direction or demonstrating new products at the show or efen-specific efen so that consumers could be interested and willing to become repeat customers.

{ 3 comments... read them below or add one }

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