Your assignment is to use secondary data sources to research and write an analysis of the market for a product, or service. This must be a new product or service idea, not an existing company. For example, you could research the market for a children?s clothing boutique in Friendswood. Or a custom fishing rod shop in Galveston. Or a winery in Galveston. Or an upscale Latin-themed restaurant in Pearland.
To do this, you must analyze the market for the new product or service. The ?market? means a specific, detailed description of the target customers. This analysis should be based on library reference and online data sources and should include the following sections:
Brief description of the product or service concept.
A description of the industry for this product or service.
What are the trends in this industry?
Who are the major companies in this industry?
What is the size of the industry?
An analysis of the market segments (customers) for your product or
service. (This is the most important section.)
How would you describe your typical client, using relevant variables, such as age, income, sex, education, geographic location, occupation, interests, etc.
Where are your customers?
How many are there?
NOTE: Here you need to have data (numbers), not just percentages.
For business-to-business sales: which industries will you sell to, what size of business are you targeting, how many are there, where are they located, what are their decision criteria for making the kind of purchase you will propose to them?
A list of the references you used to compile this analysis
You must have at least six references, and they should include business news sources and organizations.
This assignment should be typed, double-spaced. Your work will be evaluated on thoroughness and completeness, which will probably require five or more pages of content, plus a reference page and any attachments or exhibits.
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