ENTR605 Unit 1 IP - Conduct preliminary market research

ENTR605 U1IP

Complete the following for this assignment:

• Conduct preliminary market research on your venture, and write a paper of 1,500–2,000 words that responds to the following questions: 
  • What is the scale of the industry (in units and dollars)? 
  • What is the scope (geographical range) of the market? Is it local, regional, national, international, or global? 
  • Is it a niche industry, or does it reach a mass market? 
  • How profitable are the players in the industry? 
  • What trends are occurring in the industry? 
  • What competition is in the marketplace, and what are they doing? 
• Produce a detailed analysis of your markets, and articulate your conventional marketing goals and objectives. 
• You should use Internet research, statistical abstracts, buying power indexes, public agencies, industry associations, and competitor Web sites to deepen the analysis of your markets and your competition. 
• Include visual aids where they are appropriate.