Aerqi Energy Cultivator New Product Category Introduction: Market Development Flowchart Analysis and Entrepreneurial Growth Initiative Impact

摘要

This paper examines the applicability of market develop ment business strategy, to an entrepreneurial venture in the high growth potential lifecycle phase. It explores the reasons why an entrepreneurial firm may embark upon market development strategic initiatives that may facili tate yielding the anticipated financial gains. The purpose of this paper is to provide an illustration of a road-map, by which entrepreneurs may effectively prioritise and pursue managerial initiatives logically linked to bottom line payback.A decision model is introduced which addresses questions arising in the market development of a high growth entrepreneurial firm. The market development strategy comprises a flowchart, which allows the entre preneur to determine which of the initiatives to focus on, depending on intended financial performance outcomes, in this case, when introducing a new product category, namely, the Aerqi Energy Cultivator.