MGT601 Assignment 1 Solution Spring 2017

Till now you have learned a lot about the entrepreneurship and how a SME is run by an entrepreneur. Consider yourself as an entrepreneur and propose an innovative product while identifying the market gap to be offered by your SME. Following table represents some of the criteria required to start your SME which you have to fill for this assignment: Requirements Criteria Your explanation Marks 1. Name of SME 1 2. Logo of your SME 1 3. Slogan/motto of your SME 1 4. • Amount of capital required to initiate SME • Sources used to finance your business 2 5. Innovative product proposed by you: explain the market gap identified 3 6. Raw material required and its proposed cost 2 7. Proposed departments in your SME 1 8. Number of employees required and their estimated salaries amount 1 9. Proposed marketing strategy: • Identification of target market • Product packaging • Medium used for product promotion • Channels of product distribution 8 Note: the solution should be provided in the table format as mentioned above; else the assignment will not be evaluated.