Problem: Sometime in our lives we have dreamed of being an entrepreneur but due to various reasons we put in on the backburner. You have always had an idea for a unique product or service and suddenly there is a venture capitalist, who is willing to fund your idea if it appeals to him. Make up a memo in which you will:
1. Introduce the product/service concept
2. Describe the potential customer
3. Describe the marketing mix in detail:
a. Product
b. Price
c. Place
d. Promotion
4. What primary factors could affect the success or failure of this product?