Trap Ease
Trap-Ease the Big Cheese of Mousetraps
By
Ahmad Nader Fasseeh to Prof. Ashraf Talaat
For
Marketing Class MIBA ESLSCA school of Business Alexandria Egypt
Martha and the Trap-Ease investors believe they face a once in a lifetime opportunity. What information do they need to evaluate this opportunity? How do you think the group would write its mission statement? How would you write it?
First of all there are four primary areas for assessment that should be considered. 1. People Behind the idea: the background, talents, and experience of the personnel behind the idea and the management team, employees, and advisers. 2. Resources available: 3. The knowledge and information possessed by the entrepreneur, including knowledge of the new concept, the industry, and market research. Moreover they shall consider barriers to entry, location, competitors, social and economic trends, regulatory factors, target market, and market penetration and more importantly how information would be obtained? 4. The idea’s ability to generate revenue. How great is the potential to sell something that will generate actual revenues?
There are a lot of tools that can be used to evaluate the initial idea and subsequent opportunities.
• Creative tools such as ALUO (Advantages, Limitations, Uniqueness, and Opportunity) can help entrepreneurs identify the key strategic points and differences surrounding their ideas for the business.
• The KIC (Knowledge of Industry Checklist), including a comprehensive competitor analysis, is a useful guide for collecting and interpreting information about the industry.
• “Give Me Five” is a creative tool that is helpful to understanding the experience that the product or service should provide to customers. It asks you to take the perspective of significant constituents to your business.
After all the Opportunity Organizational Proposal (OOPs), which is a comprehensive analysis technique to test the feasibility of the venture idea,
By
Ahmad Nader Fasseeh to Prof. Ashraf Talaat
For
Marketing Class MIBA ESLSCA school of Business Alexandria Egypt
Martha and the Trap-Ease investors believe they face a once in a lifetime opportunity. What information do they need to evaluate this opportunity? How do you think the group would write its mission statement? How would you write it?
First of all there are four primary areas for assessment that should be considered. 1. People Behind the idea: the background, talents, and experience of the personnel behind the idea and the management team, employees, and advisers. 2. Resources available: 3. The knowledge and information possessed by the entrepreneur, including knowledge of the new concept, the industry, and market research. Moreover they shall consider barriers to entry, location, competitors, social and economic trends, regulatory factors, target market, and market penetration and more importantly how information would be obtained? 4. The idea’s ability to generate revenue. How great is the potential to sell something that will generate actual revenues?
There are a lot of tools that can be used to evaluate the initial idea and subsequent opportunities.
• Creative tools such as ALUO (Advantages, Limitations, Uniqueness, and Opportunity) can help entrepreneurs identify the key strategic points and differences surrounding their ideas for the business.
• The KIC (Knowledge of Industry Checklist), including a comprehensive competitor analysis, is a useful guide for collecting and interpreting information about the industry.
• “Give Me Five” is a creative tool that is helpful to understanding the experience that the product or service should provide to customers. It asks you to take the perspective of significant constituents to your business.
After all the Opportunity Organizational Proposal (OOPs), which is a comprehensive analysis technique to test the feasibility of the venture idea,