Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Entrepreneurial Opportunity

Question:
The shift to inverters happened by chance for Kunwer sachdeva "the Inverter man of India". The cable TV business was going pretty well for Kunwer, but the constantly faulty inverter at his home made him think more about the power backup industry in India. "My home inverter frequently broke down and we had to call the electrician every time. One day I got so frustrated that I decided to open it up and look for the problem. I found a sub-standard PCB board. I took that to my R & D team at Su-Kam cable TV business and asked them to analyze it," says Kunwer. Soon the team spent good amount of time looking at the quality of the inverters present in the market during the 90s and was shocked to find that all those inverters were built with bad quality parts backed by nearly no technology. The demand for inverter was high in the market but with few producers. This got him thinking and after initial experiments he decided to manufacture inverters as well, which led to the launch of Su-Kam Power Systems in 1998. “I had acquired technology that enabled me to cut cost and provide better quality inverters in the market. I could foresee a bright future in inverter industry,” adds Kunwer.The entire team moved from the cable TV business to Su-Kam Power Systems where they started to make inverters/UPS. While in the beginning the team started with direct sales, they soon realised that this would stunt the growth of the organisation. Thus, they decided to establish a network of dealers and distributors. From the case study above, identify the concept.
Options:
Trend Spotting
Market Survey
Market Assessment
Incubation
Correct Answer:
Market Assessment