\nSuccessful entrepreneurs introduce a product or service that satisfies customer needs in a better way than competitors at a price that is greater than the cost of creating and delivering that product or service. Based on the lectures and readings for the course to date, this assignment challenges you to explore how to fulfill customer needs in a competitive manner.
\nFOCUS
\nBased on the Opportunity Analysis Canvas’ factors 4 through 7 (industry condition, industry status, macroeconomic change, and competition), in a response of five pages, not including the title page and reference page(s), (single-spaced, 1″ margins, 12 point Times New Roman font), discuss industry condition, industry status, macroeconomic change, and competition through answering each of the below questions.
\nIndustry Condition
\n?\tWhat knowledge do you possess that can contribute to serving a market need?
\n?\tWhat are the demand conditions in the market?
\nIndustry Status
\n?\tWhat is the lifecycle stage of the industry that you are interested in entering?
\n?\tWhat is the capital intensity, advertising intensity, company concentration, and average company size within your chosen industry?
\nMacroeconomic Change
\n?\tWhat demographic and psychographic changes are creating business opportunities for new ventures?
\n?\tHow can you stay current on technical advancements and societal changes that are emerging?
\nCompetition
\n?\tWhat is the learning curve in your industry and market of interest?
\n?\tWhat complementary assets are most critical in your industry and market of interest?
\n?\tHow does the reputation of competitors influence your success?
\nYour answers should be personalized based on industries and markets that you may enter as an entrepreneur. Be sure to integrate the themes of the course and our textbook.<\/p>\n
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