“An opportunity in the marketplace is like a problem for which a solution is required in the form of an idea”- In this context, discuss the different Market-driven and People-driven opportunities that might key role for an aspiring entrepreneur who wishes to operate in Indian Electric Vehicle industry.
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(i) Demand: The demand assessment will be based on the size of market being targeted and also involve a study of the groups of consumers, their preferences, tastes, etc.
(ii)Supply and nature of competition: It is a study supply position what is meant is the complete picture of quantities of the product made available in the market by all the existing players including future supplies.
(iii)Cost and price of product: To determine what will be the actual cost price and preferable selling price. This will influence the delivery mechanism of the identified product or service.
(iv)Project innovation and change:Market assessment will require a study of prevailing innovations and changes being carried out by existing entrepreneurs using technological advancements in the field.
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