This week you will revisit the Business opportunity you chose to consider as an entrepreneurial venture in weeks 1 & 2. Begin by making any corrections or additions your instructor asked you to make in week 2. Then, you will add a new section that includes a thorough analysis of the local market you would potentially enter with this new business venture. You will be graded on how thoroughly you conduct this analysis according to what you read in the Lesson section for this week. You will be assessing very specific information in your local market regarding:
Describe in detail your target market location is?
What is the demographic your business will address?
Investigate and describe your competitors in this market and what are their strengths, weaknesses, and vulnerabilities?
Devise a strategy for entering this market and what are the specific barriers and risks to entry
What specific marketing (advertising) needs do you believe will garner attention as you enter this market with your new venture
Instructions:
Your paper should be a minimum of 1000 words and should use a minimum of 3 sources from your annotated reference list completed in the previous week. This assignment is due on Day 7 of Week 3, by 11:59pm ET.
Be sure to include in-text citations to support your assertion. All assignments should be written in APA format. Use Times new Roman 12 point font for all assignments.