You may have a brilliant idea only to find out after developing it that someone has already thought of and patented it. You may find that your idea is good, but that the market is saturated with similar ideas. Or, you may find that your idea is a hit, but that you get fatally hindered by a risk that, with a little more planning and foresight, you could have avoided. To prepare against such scenarios, you must conduct a market gap analysis and anticipate risks to your endeavor.
Action Items business ideas is centered for special need
children
textbook link
for chapters
Barringer, B. R., & Ireland, R. D. (2018). Entrepreneurship: Successfully Launching New Ventures (6th ed.). Pearson Education (US). https://reader2.yuzu.com/books/9780134797984
chapter 3-5 links
chapter 3 link
https://reader2.yuzu.com/reader/books/9780134797984/epubcfi/6/96[%3Bvnd.vst.idref%3DP7001014001000000000000000000FB5]!/4/2[P7001014001000000000000000000FB5]/2/2[P700101400100000000000000001A9D8]/6
chapter 4 https://reader2.yuzu.com/reader/books/9780134797984/epubcfi/6/138[%3Bvnd.vst.idref%3DP700101400100000000000000000168B]!/4/2[P700101400100000000000000000168B]/2/2[P700101400100000000000000001AFB6]/7:0[%2C%20Bu]
chapter 5 https://reader2.yuzu.com/reader/books/9780134797984/epubcfi/6/166[%3Bvnd.vst.idref%3DP7001014001000000000000000001ACF]!/4/2[P7001014001000000000000000001ACF]/2/2[P700101400100000000000000001B2F7]/6
- Conduct market research on your idea. Use at least three credible sources to get a sense of the market’s status. Review Refer to Appendix 3.2 in your text for helpful market research criteria.
- Make a list of customer characteristics. Explain which set of customer characteristics represents your best target market. Be as specific as you can.
- Look for similar products or services and describe what those are. If there are no similar products or services, identify and describe the closest thing to your idea.
- Synthesize the relevant research and explain the current status of the market related to your entrepreneurial idea.
- Describe whether you will be attempting to enter a new or mature market.
- Based on your Market Gap Analysis, explain how you will penetrate the identified market for your enterprise.
- Write a paper that contains the following sections: Customer Characteristics, Similar Products or Services, Type of Market/Market Status, and Market Penetration.
- Edit your paper for clarity, style, punctuation, grammar, and spelling.
- Create your paper as an APA -formatted Word document. It should be 5 pages, not including the references page.
- NO AL used or plagiarism make sure to used APA 7th edition for formatted
- write the paper using third person
- no extra space between paragraph
- never end the page with heading