Part 1
Deliverable Length: 600–800 words
respond to the following questions with your thoughts, ideas, and comments. Be substantive and clear, and use examples to reinforce your ideas.
Complete the following:
Identify and explore 3 business Web sites that do something similar to what you hope to do. These businesses may provide the same product or service as you, or they may provide a different product or service that fills the same consumer need. Respond to the following questions:
• Who are their customers (geographic, demographic, psychographic, and behavioral attributes)?
• Are the customers of these businesses similar, or are they reaching different segments?
• How are these customers similar to the customers you hope to reach?
Part 2
Deliverable Length: 1,000-1,500 words
Complete the following:
• Conduct preliminary market research for your venture, and write a paper of 1,000-1,500 words that responds to the following questions:
o What is the scale of the industry (in units and dollars)?
o What is the scope (geographical range) of the market? Is it local, regional, national, international, or global?
o Is it a niche industry, or does it reach a mass market?
o How profitable are the players in the industry?
o What trends are occurring in the industry?
o What competition is in the marketplace, and what are they doing?
• Include visual aids where they are appropriate.
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