The students and faculty of Colorado State University’s College of Business and Engineering have developed a new product called the ‘Starlight Stove’ and are extremely excited for its launch. The Starlight Stove has been produced to make life easier for the less fortunate and also improve their standard of living. Their target market was for poor people in Nepal. Only around 11% of the population uses electricity, while the rest use wood, fire, coal as a source of energy. This leads to major air pollution which causes various diseases in women and often leading to the death of young children. The students also observed that due to the fire, the smoke would fill the rooms and families could barely open their eyes. The burning of biomass fuel is time-consuming, since that time could be used effectively in other productive activities. The lesser hours used to collect wood, the longer the working hours; which facilitates families to make more money. Thus, the students and faculty of …show more content…
Just like Bright Light is trying to launch the Starlight Stove into its target market in Nepal. With thorough analysis and testing of the product, they decided to launch it into the country. It’s important for them to assess each and every aspect of the market and also anticipate failure. Bright Light needs to have a backup plan incase their product doesn’t make it down the success route. It’s important to know that even after thorough planning, businesses still manage to fail in international waters. There should be no room for errors and if there are any, they must be accounted for immediately. Bright Light should strategically plan to bring the product into the market, and if they maintain to satisfy to the needs and preferences of the consumers, it will continue to have its competitive