Ideas Testing and Summary

Ideas Testing and Summary

Assessment2:Ideas Testing and Summary (Individual)

Length:1500 words

You will select 2 of the 5 ideas in your Ideas Log to “test” through a research process. Your summary will involve a preliminary market overview of these entrepreneurial solutions, exploring:

ï Customers,

ï Competitors,

ï Product/service,

ï Suppliers,

ï Business location, and

ï Industry.

Your summary should include research under the subheadings:

i) Demographics and segmentation,

ii) Target market,

iii) Market need,

iv) Competition,

v) Barriers to entry, and

vi) Regulation.

In this assessment, a preliminary market overview must include key business aspects under each of the suggested subheadings. Your writing is expected to be clear and well-evidenced with reliable sources.

Overall ,you will be assessed on how critically you:

ï Identify and evaluate business ideas,

ï Consider resourcing for business ideas,

ï Identify and discuss ethical issues, and social or business responsibility issues, and

Describe how potential investors and team members might be sourced