Case study for entrepreneurship and small business course

For entrepreneurship and small business course - Case Study Example The source of Lugar’s startup idea is his participation in his mother’s garage sale. Even though he took part in the garage sale to assist his mother, he eventually realized that many more people would be interested in the same service he offered his mother. In this respect, being part of a garage sale actually gives Lugar his startup idea. At a personal level, this startup concept is worth giving a try. There are a number of supporting observations in Lugar’s idea. First, garage sales lack key business principles and underpricing or overpricing is highly likely. Secondly, marketing is critical as far as sales are concerned. The need to reach out to the target market validates Lugar’s idea. Most importantly, sales are just as successful as marketing. Lugar’s idea addresses these concerns and further provides a mechanism for effective pricing. Finally, the concept is potentially

Air Transat Internal and External Analysis (Aviation Industry) Research Paper

Air Transat Internal and External Analysis (Aviation Industry) - Research Paper Example The airline industry has a number of dominant economic features that determine the success of a company. These include:Service life cycle: the airline industry has reached the maturity stage of service lifecycle meaning no growth or decline. The industry consists of many small and large airline companies with the service being provided to local, regional, and global levels according to the size of the company. The number of buyers: buyers consist of groups, individuals and families in the airline industry with bulk buyers having more bargaining power compared to individuals. Buyers who have loyalty cards access the most bargaining power owing to discounts. Differentiation: differentiating on price, service, and quality ensures companies success in the market. Since there are many buyers in the market, low price, quality, and customer reviews are the main focus in the airline industry. Suppliers: two main suppliers, Airbus and Boeing supply the whole airline industry with aircrafts co nsisting of thousands of aircraft companies. Technological advancement aids in product improvement and development. Experience: having experience in the airline industry is the main advantage for success resulting in the inability of instant success for new entrants. Experience allows for airline companies to develop economies of scale allowing for cheaper cost and pricing strategies. Experience also allows companies to have a better understanding of costs and profitability strategies.