Write a paper in which you need to write about a “Product or Service Description”. Describe what the business will be selling. If it is a product, describe the product, its functionality, and how it works. If it is a service, describe the service offering so that the reader understands what they would receive. Remember that features of a product or service (water repellant fabric, open 24 hours) are not benefits.

Benefits are how the product or service adds value and/or solves a customer need. What are the benefits of the business idea (product and/or service)? Also, you need to set a price for the product/service. This can change later when you turn in the complete feasibility study at the end of the term, but it is good to at least have an idea of what it will be since that will affect who you feel your competitors are, who you may target for your product, etc.