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Case 1

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Submitted By singhsimran419
Words 2019
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Table of Contents Summary | 3 | Questions and Answers | 4 | Relationship to Concepts | 9 | Primary Research | 10 | Secondary Research | 11 | Bibliography/References | 12 |

Summary

Mr Owen Jefferson who’s a production engineer at a small manufacturing plant came across a business idea while fixing his wife Cuisinart Food Processor. He thought, by enhancing the performance of the processor and adding up more features to the product he will be able to sell the product for $25 less than the currently popular model, which intrigues him to invest in his own project for that he approached his relative who has a small appliance factory. Since Mr Owen Jefferson wife is quite happy with her product so he’s sure that there is a demand for his product.

Questions/Answers

Q1. Would you recommend without any further investigations that Mr Jefferson invest his life savings in this project ?
Why yes – or why not ?

1) According to our group, Mr. Jefferson should go ahead with his idea. There are several points to support this but one that truly matters is that he has the experience of working in a consumer product related field i.e. being a production manager .It can come handy because before starting any business one must have knowledge and information about the market. Knowing what the consumer wants is the biggest treasure a manufacturer can have and Mr. Jefferson feels that way. There is a risk of failure because his product is going to compete against one of the well settled brands in the market but if he can give consumers the same satisfaction at less price, then it just would be a matter of time his product reaches out to more and more people. Another thing that might come of a great help to him is his connections in the market. There is a possibility that he might know some retailers in the market who can sell his product because

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