Business Idea of Starting Own Business - Research Paper Example

The location of the office must also be central so that it is within easy reach of the masses. The product selected in this paper is the camera Nikon Coolpix S1000pj.  This 12.1-megapixel camera is the world’s first camera with a small built-in projector. It has other useful features and is equipped with cutting-edge technology that enables a person to capture the beautiful moments of one’s life under all sorts of circumstances.

The main idea is to start the business “Easy Vision” by selling just one product - the Nikon Coolpix S1000pj and its accessories and then to add other products as the business takes off.  The targeted audience is the middle-upper class and upper-class people of Qatar within the age bracket of 14 to 40 years. It is easier to convince the younger generation as generation Z is more tech-savvy and can easily adapt to the changing technologies. The young and middle-aged audience is targeted because in Qatar a camera like Nikon Coolpix S1000pj is a luxury item and in Qatar, people are quality conscious and tend to buy luxury items more. To promote the business, flyers are distributed in which the salient features of the camera are highlighted and the name, address, and location of the kiosk are mentioned.  Modern marketing tools such as e-mails and e-flyers will also be used to attract customers. Social media which is quite popular among people of all ages will also be used as a marketing medium.  Optimum customer satisfaction is one of the major objectives of the business and will be achieved through excellent customer service.  This will also generate a positive word-of-mouth promotion for the business. As the sales will depend on one person, the owner, he needs to educate himself about the features of the camera. The price of the camera is fixed at QR 2150 and accessories are offered along with it free of cost.

Easy vision is a small company consisting of three people only and the owner will work as a manager taking care of the important aspects such as accounts, sales, and inquiries whereas one of the employees is responsible for distributing the flyers and the other for cleaning the kiosk. The owner is also responsible for ensuring quality assurance by thoroughly inspecting the cameras for any external signs of damages. 

Nikon Coolpix S1000pj is the latest camera popular among both amateurs and professionals and Qatar is a country that welcomes new technology. Besides this, the government of Qatar encourages those who start a business in the technology sector. Because of these factors and the correct marketing mix, the owner is confident that he will achieve his goal of “Improving sales by two folds within first 8 months of operations and by five folds within 15 months of operations – by focusing on marketing and to have at least five kiosks in the city within eight to twelve months of operations”.

1. Introduction

A camera captures the beautiful moments of life forever and is thus an important and must-have instrument in any household.  It preserves precious memories in the form of photographs and videos and enables people to remember and relive those joyous moments. The photographs are mementos of travel, friendship, family, and the important events in one’s life and are often passed on to the next generation. Besides, a camera is a one-time investment (unless you decide to upgrade) and you can preserve moments for a lifetime. Analyzing these facts, the camera is identified as an instrument that is needed by everyone and it is easy to convince those who do not have one.