W​‌‍‍‍‌‍‌‍‍‍‌‌‌‍‌‌‌‌‌‌​ould you be willing to invest in my idea if I tell you I

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Jul 26, 2022

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W​‌‍‍‍‌‍‌‍‍‍‌‌‌‍‌‌‌‌‌‌​ould you be willing to invest in my idea if I tell you I am certain in my mind that my idea is a guaranteed winner? Probably not — unfortunately for me. You would insist on more qualitative and quantitative evidence prior to giving me money. Smart choice.
Take the Week 1 idea for your final presentation in Week 7 that has been approved and create a marketing research plan associated with the idea. Use both primary and secondary research for the assignment.
Why do this? So your data will be able to paint the picture of if the idea is market viable.
With a new or enhanced product find out if there is interest for your idea.
Learn about the possibility of having a profitable business for your idea.
Need to define if there is a problem that your idea will solve.
This is an initial pass at refining your idea prior to formally presenting.
Assignment details: Analyze and assign in which quadrant your idea from Week 1 fits in the supply and demand matrix below and explain why. The details describing the matrix sections are found (will attach link in work doc)
Next, submit the notes ​‌‍‍‍‌‍‌‍‍‍‌‌‌‍‌‌‌‌‌‌​as to what research details you uncovered about the market for your idea.
Summarize these notes into a report explaining if this idea is solid. If your idea is weak then come up with another and perform the analysis on it.
The report should contain information on the following topics:
Description of the industry.
The current market.
The anticipated future market potential.
Industry trends.
The level of your competition.
Potential customers and clients.
Who is your target audience?
What is the market size?
What is the problem needing to be solved?
What outcome does your target audience want?
What barriers exist to achieving this?
What possible solutions are there? List all.
Sales projections.
Summarize your findings.
The report should be written as to be reviewed by the decision makers.
Ensure there are headers in the report to assist with the understanding of the topics.
Be reasonably brief in your comments as best as you can as this is an initial study.
Suggested length is 3-4 pages. Your paper will be run through Turnitin.com which is a plagiarism detection tool​‌‍‍‍‌‍‌‍‍‍‌‌‌‍‌‌‌‌‌‌​.

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