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Essay / Research Paper Abstract
This 3 page paper looks at the company that sells HipGrips and answers three questions set by the student. The first looks at whether it is surprising the products have been successful and why, the second at three lessons that can be learned and transferred to other business start up and the last considers the advantages and disadvantages of the decision to licence the product. The bibliography cites 2 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEhipgrips.rtf
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Unformatted sample text from the term paper:
idea they changed from being plain to becoming a fashion accessory by changing the appearance but retaining the functionality. This has made them fun to use and also opened up
markets, as well as being used by the players and bought by the players the packaging of the grips in tubes also made then suitable to be bought as gifts,
including corporate gifts. Therefore, there was a good product that met an existing need in a different way packaging in a manner to extend the buying market. In effect this
is a new product and the way it has been developed created a strong differentiation with the existing competing products and the idea gave the product the first mover advantage.
It was then up to Ms Walker to take advantage of that first mover advantage, which she did. However, it is not just a good idea that will create
a successful product, to be successful there are many aspects that a business person needs to deal with. The product had to get into the shops and reach the end
consumer. This takes time and effort. Had Ms Walker simply designed the products and then hoped they would sell themselves then they would not have been successful. However, looking at
the way she persevered, even when faced with difficult ties, then the success is not surprising. She has ensured that they reached the end buyer in an attractive format, not
only in presentation, but also with the price. Question 2 When looking at Anders (2005) article, there are several lessons for starting up a business. These are three
of the lessons that have been learned. 1. Be persistent, getting through to the right people can take many attempts, they may not be in or may be busy. However,
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