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Quiz

ENES 140 Study Guide - Quiz Guide: Capital Intensity


Department
Engineering Science
Course Code
ENES 140
Professor
James Green
Study Guide
Quiz

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ENTREPRENEURIALSHIP 140
What knowledge do you possess that can contribute to serving a market need?
The knowledge that I currently possess that contributes to serving a market need is involved in the
management of resources as well as advertising and design. The information that I can contribute is not in
technology but in other aspects of developing a business. I do have extensive knowledge on customer
needs and seeing how the public responds to certain actions taken. This affects the image of a company
and also allows the company to collect information on what the public would like. Therefore, the
collection of data assists in the road to serving a market effectively.
What are the demand conditions in the market?
The size of the market, the rate of growth and the consistency of that market are all relevant factors when
figuring out what market to enter. The conditions I am most likely to enter would be a smaller market
because then I would better be able to cater the product to the population's needs. The next would be a
fast rate of growth because a smaller and new venture would better be suited to keeping up with a fast
changing environment. Finally, a small and newer venture or even larger businesses prefer homogeneity
among the crowd they are trying to serve because it means they are able to sell less products which make
more people content.
What is the life cycle stage of the industry that you are interested in entering?
The life cycle of the industry that I am interested in entering is probably similar to that of most
businesses. This involves entering the market, being adopted by consumers and growing business until it
is segmented and sold to other companies or even just closed. The life cycle stage of the industry is in its
early days where people are just beginning to look into the switch from so much documentation
happening through paper over to electronic versions.
What are the capital intensity, advertising intensity, company concentration, and average company
size within your chosen industry?
The capital intensity is low considering businesses that operate through the immense amount of electronic
resources availability tend to have an easier time with money as many resources are free. The advertising
intensity is also lower because the electronic processing is appealing to many corporate businesses who
currently deal with more antiquated methods of filing. Seeing as they would be interested in updating
their processes, they would be more interested and easily persuaded into switching so they would only
need an introduction to the firm's product. The average company size within my industry varies widely
but tends to be smaller since it takes less people to operate electronically; there is little hard labor that has
to be accomplished.
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