The paper "Entrepreneurship and Venture Creation - Tech Connect Consulting " is a perfect example of a business case study. Tech Connect Consulting is a new firm that seeks to provide international high-tech companies introducing new products into the UK market with consultancy services, specifically by targeting new niche markets in the country. The organisation’ s partners are experienced professionals in business development, marketing, distribution strategies, and channel development of high-tech products. Technology manufacturers from North America and Asia seeking to access the Western Europe market will require expertise in the opening and selection of channels, evaluation of distributors, and establishment of distribution (Grilli & Murtinu, 2014: p1531).
This is the opportunity that Tech Connect wants to leverage. The founders of the firm have experience in market research, marketing of personal computers, and consulting services and are forming the company formalise their consultancy services. Tech Connect aims to attract clients who want temporary and scalable marketing expertise, which may be too expensive and difficult to undertake using the permanent, full-time staff. Its selling point in achieving this goal will be that clients can leverage expertise on a range of revenue opportunities from one pool, including market research and consultancy on projects (Grilli & Murtinu, 2014: p1531).
The starting capital for this business will be £ 20,000. Currently, this market has no dominant/monopoly position because the large consulting firms and market research companies are not focused on niche markets. Moreover, most of the high tech companies entering the Western Europe market still prefer to conduct most of their market research and business development functions within the organisation (Parida et al, 2012: p291). By providing consultancy services that link market research with the specific goals of these companies, Tech Connect will help open up new niche markets for foreign high tech companies.
The level of threat from competing products is low in the UK because the market for these services is heterogeneous, especially since consultancies specialise in different expertise areas, rather than being in competition with each other.
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