Task 1
Your faculty mentor wants you to find and interview an industry professional in a similar field as your new venture idea—one who can provide you with helpful feedback and resources about various types of businesses analyses that you can perform on the industry and market. Before you interview the professional, watch a series of videos focused on competitive marketing analysis to help provide more clarity before you create this section of the business plan.
Action Items
Watch the collection of videos, “Marketing Foundations: Competitive Marketing Analysis.” https://www.lynda.com/Marketing-tutorials/Marketing-Foundations-Competitive-Market-Analysis/614311-2.html
Complete the three worksheets within Marketing Foundations: Competitive Market Analysis Template as you watch the videos.
Task 2
The videos provided you with helpful information about analyzing the marketing aspects of your business. Now it’s time to locate an actual business professional who can share some of his or her own business acumen with you. You have a set of questions that you will use to interview the industry professional to gain insight on how to analyze your prospective competition and the market and on marketing strategies you can pursue.
Action Items
Interview a business professional, preferably, someone who has experience in the same industry as your business. You may locate a viable business professional to interview by asking your faculty mentor for recommendations or perhaps you have family, friends, or colleagues who can share some of their business acumen with you. You may conduct the interview with the business professional either virtually, by phone, or in person.
Complete the answers to the questions provided based on the interview you conduct and submit the completed interview template. I will provide the interview questions as attachments.
Sample Solution
