1. Introduce the company and the product/service idea for the new venture.
Heat Seekers Inc. is about to launch a new innovative product to consumers in various markets called the ESU coat. Consumer needs, taste, disposable income, and preferences are the standard drivers for continued advancements in the 21st Century. Technological advancements create windows of opportunity for an entrepreneur to accommodate the needs of the consumer. A venture “provides a complete overview of the product(s), service(s), and operations of a new innovation” (Hisrich, Peters, & Shepherd, 2010). We have advanced from campfires, wood burning stoves, hot water bottles, heating blankets, and the utilization of natural resources to heat our inhabitance, to now the technological development of solar powered green energy heating sources. Despite the advancements in technology the dilemma associated with personal on the go heated comfort are an under developed niche. The ESU coat gets even better; from a health perspective the ESU coat can also help to aid people who have poor blood circulation in the body.
The ESU coat is a great quality product unlike no other currently offered by existing competitors which will sustain constant growth in a global market. It is a solar energized eco friendly coat with a personal temperature gauge control to adjust the degree of heat emitted. It does not require any batteries, plugs, or adaptors. It is insulated, portable, hypo allergenic, flame and water repellant, comes in a variety of colors, and is affordable. It is a coat made of eco system friendly materials for individuals of every shape, size, and climate condition. According to Hisrich, Peters, and Shepherd (2010), “The basis for indentifying new products according to their effect on consumer consumption patterns is consistent with the marketing philosophy that satisfaction of