This is continue from Business idea (shell Gas station) please answer all those question below:
Learning Activity #1
Watch the video titled "Understanding the Job." What is the "job" that your business seeks to fulfill? And, what are other ways that this job can be completed? Given this information, who are the main direct and indirect competitors to your business?
Learning Activity #2
Start the market analysis for your business idea early by answering these basic questions:
- What is the general industry in which you will operate? What is the size of this industry (e.g. annual revenue, number of companies)?
- What are the barriers to entry for the industry?
- What is the area in which you will operate? What is the total population of the area? What portion of the population are potential customers for your product/service?
- Who is the target market for the product/service that you are selling? Describe them.