Assess the steps in planning and organizing an entrepreneurial venture

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

Sample Solution