Raman was manufacturing lunch-boxes for school going children. To increase sales and ultimately the revenue he decided to improve the quality of lunchboxes and added a warmer in the lunch-boxes so that children could eat warm food in winter. Which Idea field did Raman use ?

Market driven or demand driven Service sector Existing product or service Natural resources

Existing product or service

Existing products or services: A great business idea combines skills with imagination and market demand. A business opportunity or idea often comes from everyday problems that someone solves. Successful businesses find a need and fill it by providing a service or product. Entrepreneurs who look at ways to make an existing product or service better can be as successful as those who create or invent products. There is a constant and consistent effort on the part of all entrepreneurs to improve the products and services already existing in the markets. Often, a company will improve or change its existing products. There are many reasons for doing this. It can make a substantial difference in the success of the company and even take it in a whole new direction. However, it can also spell disaster if not done correctly.