TAMILNADU GOVERNMENT POLYTECHNIC COLLEGE

MADURAI-11

DEPARTMENT OF COMPUTER ENGINEERING

4052570-ENTREPRENEURSHIP
AND STARTUPS

Name:__________________________________

Reg. No. ________________________________

Roll No. ________________________________

Semester: ______________________________
TAMILNADU GOVERNMENT POLYTECHNIC COLLEGE
MADURAI-11

DEPARTMENT OF COMPUTER ENGINEERING

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Roll No. …………………………………………………… Semester: …………………

Certify that this is a bonafide work done

by …………………………………………………………………………………………………. in the
4052570 - ENTREPRENEURSHIP AND STARTUPS
during the year 20 - 20

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ABSTRACT
 ABSTARCT

In this report information regarding the industrial visit to

QunatanicsTechservPvt Ltd. is given in detail. A detailed analysis of
the topics that are to be considered for becoming an entrepreneur
and begin a startup is done in this report. In this report startup and
its stages are elaborated.
CONTENTS
 TABLE OF CONTENTS

Section Title Page No

1 INTRODUCTION 7

2 PRODUCT SELECTION 8

3 BUSINESS RISK 9

STRATEGIC RISK

OPERATIONAL RISK

4 DIGITAL MARKETING 10

5 RISK TAKING CONCEPT 11

6 BRANDING 11

7 MARKETING AND SALES STRATEGY 12

NEED OF SALES AND MARKETING

STRATEGY

8 PRODUCT DEVELOPMENT 13

9 CONCLUSION 14
1. INTRODUCTION
The IIIrd year computer science students of Madurai Tamil Nadu

Government Polytechnic College were taken to Quantanics Techserv pvt

ltd as an industrial visit. QuantanicsTechservpvt ltd is an IOT based

startup company which builds products for enterprises, startups, r&d

labs. The students were able to grasp some advanced concepts related to

programming and IOT which was explained by the staffs and higher

officials of Quantanics Techserv pvt ltd. The CEO of Quantanics Techserv

pvt ltd elaborated the details about startup to students. The following

section describes the topics taught about startup and its stages.
2. PRODUCT SELECTION

Goods and services are necessary for satisfying the needs of

society. Such goods/services or goods along with services or simply an

idea can be called as a product. In simple terms, product is anything

that is offered for sale into the marketplace. This makes product an

important constituent of marketing and an important consideration in

managerial decision-making.

In past, it was relatively easier for entrepreneurs to choose a

particular product. He had complete freedom to choose any product

which according to him can satisfy the needs of the market and is

money-making in nature. Before launching the product, entrepreneur

use to consider different criteria like technological requirement, needed

financial resources, an approximate idea about the product's demand,

etc. However, in this age, the selection of a product has become a very

complex task as the market conditions have become very

complicated. Nowadays, when an entrepreneur wants to select a product,

he needs to consider complex parameters like satisfaction level of the

customers, attitudes of the customers, competitors' strengths, support of

the dealers, existing infrastructural facilities, prevalent macro conditions

of the economy, etc.

3. BUSINESS RISKS
A business risk threatens a company's financial goals. Business

risks can be categorized as internal or external risks and can include.

there are two types of risks.

 Strategic risk.

 Operational risk

3.1 Strategic risk

A strategic risk occurs when a company's business strategy is

faulty or its executives fail to follow a business strategy at all. A company

may fail to reach its goals due to strategic risks.

Example: If a pharmacy chain positions itself in its market as a provider

of low-cost prescriptions and a competitor begins selling prescriptions at

a lower rate than the pharmacy chain, it puts the pharmacy chain at a

strategic risk of losing profits to a competitor.

3.2 Operational risk

Operational risk occurs when a business' day-to-day activities

threaten to decrease its profits. Internal systems or external factors can

cause operational risks for companies. Here are a few specific types of

operational risks:

Employee errors: A business can experience a threat to its operations if

employees make significant mistakes at work.

 Damage to assets: A natural disaster can damage a company's physical

assets, which is an operational risk.

External fraud: When a company experiences external fraud such as a

theft by a third party, the theft poses an operational risk to the company.

Example: If a retail fashion business fails to train its customer service

representatives on its refund policy and the representatives refuse

refunds for customers with defective products, the company can

experience an operational risk.

4. DIGITAL MARKETING
Digital marketing, also known as online marketing, refers to

advertising delivered through digital channels to promote brands and

connect potential customers using the internet and other forms of digital

communication such as:

 Search engines

 Websites

 Social media

 Email

 Mobile apps

 Text messaging

 Web-based advertising
 In-short, if a marketing campaign is using any of the above online

media channels, it is digital marketing.

Consumers today rely heavily on digital means to research products.

Some 77% of customers research a brand online before engaging with it,

according to HubSpot Research. Meanwhile, 51% of consumers say they

use Google to research products before buying.

5. RISK TAKING CONCEPT

While the word “risk” might make you think of chaos and

unpredictability, in the context of entrepreneurship, risk-taking is a

calculated and measured byproduct of starting a business.

Risk-taking in entrepreneurship is the process of identifying,

evaluating, mitigating, and trying out potential opportunities and

strategies that may help you build or grow your business but could also

lead to personal or professional loss.

6. BRANDING
Branding is important because not only is it what makes a

memorable impression on consumers but it allows the customers and

clients to know what to expect from a company. It is a way of

distinguishing a company from its competitors and clarifying what it is

the company offer that makes the better choice. A company’s brand is

built to be a true representation of what the business is, and how it wish

to be perceived.

7. MARKETING AND SALES STRETEGY

 Your Sales and Marketing strategy is your plan for reaching,

engaging, and converting target prospects into profitable customers. It’s

the charter that guides Marketing and Sales in their daily activities,

helping them clarify shared objectives and how to achieve them.

7.1 Need a Sales and Marketing Strategy

A Sales and Marketing strategy provides a cornerstone for

alignment – and alignment is a worthwhile goal for every B2B

organization. Our own research found that 54% of Sales and Marketing

professionals note collaboration’s positive contribution to financial

performance. The 2017 Marketing Performance Management Report from

Heinz Marketing jibes with this finding, reporting Sales and Marketing

alignment as the most important success factor to achieving revenue

goals. In fact, companies with aligned Sales and Marketing

functions generated 208% more revenue from their marketing efforts.

That’s not all – highly aligned organizations achieve an average of 32%

year-over-year revenue growth.

8. PRODUCT DEVELOPMENT
Product development -- also called new product management -- is

a series of steps that includes the conceptualization, design, development

and marketing of newly created or newly rebranded goods or services.

Product development includes a product's entire journey -- from the

initial idea to after its market release.

The objective of product development from a business standpoint is to

cultivate, maintain and increase a company's market share by satisfying

consumer demand. From a customer standpoint, it's to ensure value in

the product as a quality good or service. Not every product will appeal to

every customer or client base, so defining the target market for a product

is a critical step that must take place early in the product development

process. Organizations should conduct quantitative market research at

all phases of the design process, including before the product or service

is conceived, while the product is being designed and after the product

has been launched.

Some organizations have product development centers that make

products. For example, Alphabet Inc., Google's parent

company, launched a product development center in Kenya, Nairobi -- as

Alphabet is positioning itself to serve a growing base of internet users.

9. CONCLUSION
The report for the industrial visit at Quantanics TechServ was

successful and we have included all the things we learned at there in the

report. This was useful for us and gained knowledge in all the different

areas of startup and helps us to give get a further idea on creating and

managing a startup.