Page 84 - Webapplication11_C11_Flipbook
P. 84
Idea Description
Ideas based on self-interest Entrepreneurs can find inspiration close to home in their own interests.
Someone who loves and excels at dance, for example, could open a
dance studio catering to both serious dancers and those seeking a fun
fitness option
Study based Your studies can be a gold mine for business ideas. Is there a lack of
good study resources? Create a website or app with helpful materials.
Solve student problems based on your own challenges and turn learning
into profit.
Lab Assignment ‘n Activity #Problem Solving &
Logical Reasoning
Asha, the chai-seller
Asha started working in a multinational company after completing her MBA. She found that the cafeteria in the
company did not serve good quality tea. She also did not find any tea vendor near her company offices. After
working in the company for three years, she decided to start a venture of her own. For this, she chose to sell
good quality ‘chai’. She chose the area outside her previous company to start her ‘chai’ business. Every morning,
she would serve hot tea to her customers with a smile. She also included several varieties of ‘chai’ like ‘Tulsi chai’,
‘Masala chai’, ‘Ginger chai’. Soon, her business started growing. People would willingly stop to buy a cup of ‘chai’
from her and even chat with her. She started only one tea stall but now runs five tea cafes in three different cities!
1. Which ideology of idea creation did Asha follow?
2. Why did Asha come up with this idea?
3. Can you think of any idea to start a business?
4.9 UNDERSTANDING THE MARKET
Entrepreneurs are directly responsible for ensuring that the needs of customers are met by the products or services
offered by them. Therefore, in this phase of the business, it is very important to understand exactly what most customers
want. Customer needs can be grouped into four types:
Partially Fulfilled Unfulfilled and
Fulfilled Needs Unknown Needs
Needs Known Needs
Fulfilled Needs
These are the needs that customers understand. The needs are met by various companies or governments. For example,
the need for travelling modes is covered by both private bus services and state bus or metro services.
Partially Fulfilled Needs
These are needs that are met through different products or services, but customers are not completely satisfied and
still have problems using them. For example, people always use taxi services like ola, uber and auto-rickshaws to get to
different places, but they struggle to find one on time and end up paying an extra amount for it.
82 Touchpad Web Applications-XI

