PART A: Business Idea Development (Individual Report and Presentation - 800 words - Week 8, Day 1). ...

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PART A: Business Idea Development (Individual Report and Presentation - 800 words - Week 8, Day 1). Using secondary information and relevant marketing concepts assess the market with the objective...

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PART A: Business Idea Development (Individual Report and Presentation - 800 words - Week 8, Day 1).

Using secondary information and relevant marketing concepts assess the market with the objective of launching a new or improved product offering for New Zealand. Your discussion of the business idea must show how your new/improved offering fills a gap in the New Zealand market. The marking criteria document for the individual business idea development report is found below.

Answered Same Day Sep 18, 2020

Shanaaya · Accepted Answer

Student Name
Student ID
University Name
Street Lights in New Zealand
There are around 380000 street lights which are placed on roads in New Zealand. But only 10 percent of them are LED lights (Scarborough, 2016). Non LED Lights consume more energy and provide less lighting. The government has targeted to cover and change more than 60 percent lights into LED in the coming decade. The problem with the present street lighting system is that these not only consume more power but also manually operated. These are neither sensor operated nor automatic.
With the passage of time and the development of new era,  we work towards the modernization of our ongoing technology with some great ideas. When we develop the technology for the profit motive and revenue generation we call it business ideas.
The generation and development of a new business idea has the following features:-
a.     Analysis and consideration of new and present markets
b.    Expenditure of the present ideas
c.     Analysis of the competitors and the products
d.    Framing a proper business model.
e.     Conduct a proper market survey
A business idea works when we introduce an innovative idea with the feasible plan and clear vision. How about providing an automatic street light system on roads for saving electricity and providing a more advanced lighting system for clear vision at night also. What would one think if he sees the street lights getting on by itself at night and getting off in the morning?

PART A: Business Idea Development (Individual Report and Presentation - 800 words - Week 8, Day 1). Using secondary information and relevant marketing concepts assess the market with the objective...

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