You will select 2 ideas in Ideas Log to “test” through a research process. This assessment requires students to maintain an ‘ideas log’ – a journal for their ideas is indicative because of the flexibility involved in how you willrecord ideas.

You will have to develop 2 ideas for new businesses, identifying innovations that could be developed into a viable business. Your summary will involve apreliminary market overview of these entrepreneurial solutions,exploring:

ï Customers,

ï Competitors,

ï Product/service,

ï Suppliers,

ï Business location, and

ï Industry.

Your summary should include research under the subheadings:

i) Demographics and segmentation,

ii) Target market,

iii) Market need,

iv) Competition,

v) Barriers to entry, and

vi) Regulation.

In this assessment, a preliminary market overview must include key business aspects under each of the suggested subheadings. Your writing is expected to be clear and well-evidenced with reliable sources.

Answer rating: 100% (QA)

When preparing to start a business you should test your business idea to ensure it is viable Heres how to do it Testing your business idea is key to see if it is a viable business model Dont rush into ... View the full answer