NED University of Engineering and

Technology MID TERM PAPER

Course – Entrepreneurship Time – 2 hours (9:00-11:00 am)

Course Teacher – Asfia Farooqui Max Marks – 20

Section A – OBJECTIVE (relates to CLO 1)

1- Which of the following shows the process of creating something new?

c) Innovation

2- Which one of the following gives suggestions for new product and also help to market new
products?
b) Distribution channels
3- Which of the following is used by entrepreneurs to acquire experience in an international
market before making a major commitment?
c) Minority interest
4- The entrepreneur was distinguished from capital provider in:
b) 18th century
5- A person who managed large project was termed as the entrepreneur in the .
b) Middle ages

One word answer

1. Taking ownership of another business called Partnership.
2. The activity of attracting public attention to a product or business through paid announcements in
print, broadcast, or electronic media. Not to be confused with marketing or public relations called
Advertising.
3. Provides workspace, coaching, and support services to entrepreneurs and early-stage businesses
called Business Incubator
4. A form of protection for published and unpublished literary, scientific, and artistic works that have
been fixed in a tangible or material form called Copyright .
5. A person who organizes, operates, and assumes the risk for a business venture called
Entrepreneur
 Section B – Subjective (relates to CLO 3/4) 10 marks
–Q # 2 What do you understand about Entrepreneurial Process and How It can run? Explain all stages
with logical the reasoning.

Entrepreneurial Process
It can be defined as the steps taken in order to establish a new enterprise. It is a step-by-
step method, one has to follow to set up an enterprise.

There are mainly five steps one needs to follow. These steps are:
• Preliminary steps
• Decision-making steps
• Planning steps
• Implementation steps
• Managerial steps

Preliminary Steps
Preliminary steps are the initial steps one has to follow for establishing a firm. At this stage,
the to-be entrepreneur should be able to make a decision that is going to affect the company.
We can say that an entrepreneur is born at this stage. An entrepreneur searches for business
opportunity and collects information/data from all sources available.

Decision-making Steps
Decision-making steps can be defined as those steps or say the lessons learnt by an
entrepreneur to make decisions efficiently.
In this step, the entrepreneur is seen consulting with DIC (District Industrial Centre) and
MSME (Medium Small & Micro Enterprise). Some of the decisions to be taken are:
1. Decision of acquiring fund from banks or financial institutions.
2. Acquisition of permission, recognition, application.
3. Making of PPR (Preliminary Project Report).
4. Decision regarding land, building, plant, machinery, labor, raw material, fuel,
energy, water supply, filtration, etc.
5. In order to make effective decisions that is adaptable and comfortable for the
company, the clients and all those who are directly or indirectly linked to the
decision-making step play a very vital role.

Planning Steps
Planning is an assumption or prediction of business requirements and outcome in the future.
It provides a space to review the best strategy to run the business by cutting expenses and
maximizing profit.
1. Some of the planning steps include:
2. Planning for infrastructure like plant and building.
3. Getting permission and recognition from the government or any other reputed
authority.
4. Applying for environmental clearance.
 5. Purchasing of land and licensing of mines, if necessary.
6. Applying for electric connection and water supply.
7. Planning the final feasibility, technical feasibility, and operational feasibility.
8. Study of PPR and preparation of Detailed Project Report (DPR).
9. Getting loan and/or capital investment.
10. Acquisition of machineries and planning for installation.

Implementation Steps
Implementation is the execution of plan; it is the action taken to implement the plan so that
something actual happens.
Given below are some steps that will help us get a clear picture of how actions in planning
steps are groomed into implementation steps:
1. Acquisition of land, setting up building, and purchasing raw materials.
2. Installation of plant and machineries, and arranging human resource.
3. Receiving permission and reorganization letter, and receiving capital investment.
4. Starting operation and production.
5. Arranging fuel, electricity, and water supply.
6. Making infrastructural development, i.e. road, hospital, school, residence, etc.
7. Implementation is the most important and difficult step, during implementation the
actuals come to figure and something of real value is generated.

Managerial Steps
We have seen about the roles and duties of an entrepreneur. Managerial duties are also very
important for an entrepreneur as well as the organization. Some of the managerial duties to
be taken care of are:
1. Preparing market policy and strategy.
2. Managing promotion of product or services.
3. Formulating pricing policy.
4. Managing wholesalers and retailers.
5. Deciding the profit margin.
6. Managing marketing strategy, managing advertisement of product or service,
managing distribution system for efficient distribution.
7. Warehouse management.

Each step has its own importance and its own role in the development as well as
deterioration of a company.

Q#1 Develop a detailed marketing campaign of any Food Industry in order to have all parameters of
Marketing Strategy by concept.

Market Campaign
Marketing campaigns promote products through different types of media, such as television, radio, print,
and online platforms. Campaigns are not solely reliant on advertising and can include demonstrations,
video conferencing, and other interactive techniques.
 FIX & FOGG Marketing Strategy
1. Product Strategy
 Set out to produce the world’s best peanut butter
 Developed the recipe and played around to get taste and texture perfect
 Highly value the people that make their product
 Use tasting panel to get feedback
 Producing healthy product was important to them
2. Target Market Defined
 Health conscious foodies who appreciate good quality
 The biggest segment to engage with FIX and FRGG on social media are females aged 18 to
34 years old
 FIX and FOGG put equal emphasis on product development and brand development
3. Social Media
 It played a huge role in their success
 Strong engagement
 New photography on-going
 Interactive
 Giveaways work very well
 Always reply to posts
 Turn negative feedback into positive by responding and offering to send free samples
4. Website and Publicity
 The site reflects their brand personality, tells their story and promotes a vast array of
recipes
 The hub of their brand- they drive people to their websites via social, PR, advertising and
their quarterly e-letters
 Offers delivery anywhere in New Zealand
 Has been the gateway to their success
 They knew that photos would build brand personality and create a point of difference
5. Content Marketing
 Building a brand by marketing by creating and sharing of online material that does not
always explicitly promote a brand.
 Build an audience of people who want to but your brand by building a relationship with
them
Online Marketing Campaign has four main parts to do.
a) Research
b) Plan
c) Implement
d) Review