Assignment:
Conduct a preliminary environmental and market scan
Initiate the business planning process by identifying their product or service
Complete the following:
Conduct preliminary market research for your venture, and write a paper of 1,500 to 2,000 words that responds to the following questions:
1. What is the scale of the industry (in units and dollars)?
2. What is the scope (geographical range) of the market? Is it local, regional, national, international, or global?
3. Is it a niche industry, or does it reach a mass market?
4. How profitable are the players in the industry?
5. What trends are occurring in the industry?
6. What competition is in the marketplace, and what are they doing?
Include visual aids where they are appropriate.