I could really use some help tyoping this out. I am slammed at work, Thanks 1. D

Question

I could really use some help tyoping this out. I am slammed at work, Thanks

1. During a vacation, Lovin accidently stumbled upon a music blog targeting the college graduates while he was looking for music and mashups. Upon analysis he found that the website was poorly designed and organized. Besides, the downloading speed was also very slow. Since Lovin had a three years' experience of web designing and development as well as he was good with content writing, he decided to create his own website. Thus, Lovin recognized the opportunity for the new venture Out of the three types of start-ups, Kollection fits into the "new benefit" start-up category as the concept of the start-up was not new, but Lovin was determined to offer a better version of previous offerings. Lovin got this opportunity by accidently stumbling upon the blog and with the help of his knowledge and experience of the industry. In addition to it, the music industry was being revolutionized that time and hence attracting lot of audience. All these factors served as the source of opportunity 2. SWOT analysis of Kollection Strengths The company has successfully identified the gap between the consumer requirements and market offerings and successfully bridged it. Fast downloading speed provided to the users Strong audience base Website with minimal desi gn. Weakness . Inconsistent revenues Lovin could not devote much time to the business due to his studies . Soundcloud account of the company was closed Opportunities Growing demand of merchandize Diversification of merchandize Partnerships Threat New as well as existing competitors Dwindling profits Low barriers to market entry . Copvright issues 3. Lovin is following differentiation strategy as his primary focus was to differentiate its product offerings from that of the competing firms. In order to achieve this objective, he provided the users with a unique feature to create their own playlists. In addition to it, unlike the competitors Lovin focused on providing simple design and fast music downloading speed to the users This is not the only and best way to position the company. Lovin should also plan to release his new line of merchandize with unique design and quality as the previous line had started earning profits in its first month itself. Besides, he should also focus on maintaining the uniqueness of the website by adding new features and options for the users

Explanation / Answer

1. During a vacation, Lovin accidentally stumbled upon a music blog targeting the college graduates while he was looking for music and mashups. Upon analysis he found that the website was poorly designed and organized. Besides, the downloading speed was also very slow. Since Lovin had a three years experience of web designing and development as well as he was good with content writing, he decided to create his own website. Thus Lovin, recognised the opportunity for the new venture.

Out of the three types of start ups, Kollection fits into the "new benefit" start up category as the concept of the start up was not new, but Lovin was determined to offer a better version of the previous offerings.

Lovin got this opportunity by accidentally stumbling upon this blog and with the help of his knowledge and experince of the industry. In addition to it, the music industry was being revolutionized at that timeand hence attracting lot of audience.All these factors served as the source of opportunity.

2. SWOT Analysis of Kollection-

Strengths:

Weakeness:

Opportunities:

Threats:

3. Lovin is following differentiation strategy as his primary focus was to differentiate the product offering from that of the competing firms. In order to achieve this objective he provided the users with unique feature to create their own playlists. In addition to it, unlike the competitors, Lovin focussed on providing simple design and fast music downloading speed to the users.

This is not the only and best way to position the company. Lovin should also plan to release his new line of merchandize with unique design and quality as the previous line had started earning profits in its first month itself. Besides he should also focus on maintaining the uniqueness of the website by adding new features and options for the users.  

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