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 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
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.