Homework: Opportunity Identification and Business Model
While it may seem like every business idea has been thought of, there are hundreds of new products and services waiting to be launched in the next 5 to 10 years. Not only the idea but also the method of attracting customers is key to the success of the business. The first filmless camera was patented in 1972 (US patent 4,057,830) and Kodak developed the first digital camera in 1975 (US patent 4,131,919). Some theorize that Kodak could have dominated the market if they continued to develop the technology instead of abandoning it.
For this homework, you will need to do the following:
1. Identify a company (real or fictional) and a developing opportunity (real or fictional) and select the business model that would be used to bring that opportunity to the public.
2. Be sure to address the following:
• Why you selected that business opportunity
• The opportunity's potential
• A similar product in the market and what business model is used to promote that product
• What business model you would select to promote the product and why. Make sure to also discuss and include the pros and cons of the business models not selected
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.