New Venture Creation

Topics: Marketing, Target market, Secondary research Pages: 3 (850 words) Published: April 16, 2013
MARKET FEASABILITY

First Section

Explaining the idea in full giving as much detail as possible without getting too technical. (Include drawings or pictures if you wish to enhance the text).

When explaining the opportunity you must discuss what problem the idea will solve and please include quotes from your primary research. This will allow the reader to gain some knowledge of the customer’s (target market) point of view on of how the idea will satisfy their needs. Then explain what value-add the product/service has and again include quotes from your primary research. Give details of why the timing is right for the opportunity and what the duration and frequency might be.

Technical Feasibility
This section must give full details of the technological elements and requirements of the opportunity. Explain what stage the technology is at and what expertise might be required to fully develop and commercialize the idea. This should be followed with a discussion on the production capability of the opportunity and how the bio-business team intends to protect the idea.

Market Feasibility
You must give full details of your intended market and this should be followed with the findings of the primary and secondary market research.

The Intended Market
You are required to carry out a overview of the wider global market, its growth rate, trends and major players. This should be followed by an overview of the intermediary market its growth rate and major players and finally a forensic detection of your entrepreneur’s intended niche market and this must include; the intended niche market’s size (local, national, international or global), its potential for sales and profitability; the growth rate of the market; the market trends; further opportunities that could be capitalized on and how threats to the market will be managed and overcome. Finally this must be followed by an overview of the main competitors in the market.

Primary and Secondary Research
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