ENTREPRENEURSHIP

  • Category:
    Business
  • Document type:
    Assignment
  • Level:
    Undergraduate
  • Page:
    1
  • Words:
    613

3Entrepreneurial Idea

Entrepreneurial Idea

Entrepreneurial Idea assuming Existence of Credits Cards among Students

Clothe Line

Since the students are now armed with credit cards, it is wise to launch a website where cloth lines can be established. The students can then log in the site and order materials that are paid online by use of the credit cards, and the item bought can be delivered to the buyer within the specified boundaries. The venture will be more virtual and reduces the student’s active search for their preference regarding clothing. Since the students are busy with their studies, it could be hard for them to spare time and go physically to look for any cloth they need. Therefore, the online cloth line, with door to door delivery after purchase will be a hot cake for the learners now that the payment method has been made simple and available to all of them (Kamali and Loker, 2002). There are challenges that the entrepreneur has to be donned up to be able to unleash the investment potential.

Challenges

Finding a Market Niche

The entrepreneur should be able to have channels through which they will reach the potential buyers – students, for the investments to have regular customers. This can be attained by inviting traffic into the website. The management can advertise the site through the school’s Facebook page, for instance, the school notice boards, through messaging with the help of the class representatives. The advertisement is vital to allow the maximum publicity to the target group, who are the students at Latrobe University (Cordier, Seo, and Magnenat-Thalmann, 2003).

The Technology Availability

This is another challenge where there may be few people well adapted to technology. The people may have a problem navigating the site and making a purchase of the items of their choice. To make the website more precise and easy to navigate would be the only solution to allow the maintenance of clients who are not well experienced with technology. Also, the management can make use of the directions where the customer is given tips on how to navigate the site.

Merits of online Clothing

Convenience

The online shopping is linked to being very convenient for the buyers when you are doing online shopping it becomes easier to get what you need exactly. You have not to walk all the way to the mall to get the color and size of the cloth you want. You just sit with your computer and cruise through the site and pick your preference. It also saves time for you to do something else that will impact your life positively (Shang, Chen, and Shen, 2005).

Variety of Choices

The online shopping has several options that are aimed at satisfying the clients under one website. The selection range is not limited, and you can make orders for the particular color you want to be delivered. The students spend their mot of the time in class and library. They try to maximize their output by using their time sparingly. Therefore, this will be the best venture for they will have no time to waste when doing the shopping for their clothes. This is the best venture for us in Latrobe University (Silberschatz et al., 1998).

Bibliography

Cordier, F., Seo, H. and Magnenat-Thalmann, N., 2003. Made-to-measure technologies for an online clothing store. IEEE Computer graphics and applications, (1), pp.38-48.

Kamali, N. and Loker, S., 2002. Mass customization: on‐line consumer involvement in product design. Journal of ComputerMediated Communication7(4), pp.0-0.

Shang, R.A., Chen, Y.C. and Shen, L., 2005. Extrinsic versus intrinsic motivations for consumers to shop on-line. Information & Management42(3), pp.401-413.

Silberschatz, A., Galvin, P.B., Gagne, G., and Silberschatz, A., 1998.Operating system concepts (Vol. 4). Reading: Addison-Wesley.