Entrepreneur assignment 1 PDF

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Shane Hicks Professor Ciuchta 2/2/17 ENTR 3000 Assignment 1

Silverware-To-Go Once upon a time there was a strong silverware market, Everyday, people who needed eating utensils went shopping to buy forks and spoons so that everyone in their household could have an eating utensil. One day people started to realize that silverware was too expensive and that forks and spoons can easily go missing. Because of that, people bought plastic ware instead to avoid overspending on silverware every time they lost their eating utensils in their home. Until finally, Silverware-To-Go came up with fold up forks and spoons so that they can be carried safely in bags or conveniently in bedroom drawers so people can have eating utensils at arms length and at a cheaper price than silverware because they are made with raw materials that are cheaper and long lasting.  

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The people who specifically are affected by this are young people that need an easy way to go about their day, people with low income because the product is cheap, and people that misplace their belongings. The solution Silverware-To-Go gives is convenience for people who need silverware because they can use it for a lifetime and take it wherever they go. This is a radical/disruptive innovation because people have been used to normal silverware for a really long time. Once people see the benefits Silverware-To-Go has to offer, they will jump on making it one of their first priorities to invest in the product. The way I plan on providing the solution option of a better silverware alternative than plastic silverware is by setting up stands in large communities to provide free Silverware-To-Go samples with order forms for potential consumers. Also, I would market the product by finding an endorsement by a food business that would use the Silverware-To-Go product to help attract new consumers. The struggle to survive in this market would be from the competition of silverware makers and plastic silverware makers. Silverware-To-Go is a better alternative to plastic silverware and regular silverware because it's cheaper, portable and they are able to last for the lifetime of the consumers....