New

Learn smart - Learn online. Upto 80% off on courses for a limited time. View Courses

Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
loader
Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!

Stuck on Your Question?

Get 24x7 live help from our Top Tutors. All subjects covered.

loader
250 words

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Students Who Viewed This Also Studied

3 Pages
MGT302A strategic management

To prepare for this assessment, the following steps are advised:Step 1 - Read the subject materials for modules 1 to 4 (weeks 1 to 8).Step 2 - Decide which ONE of the three organisations you will choo ...

Course

MGT302A

Type

Case Study

Subject

Management

University

Laureate International Universities

75 Pages
Context Of A Research Project

Updated October 2020 1 SG6000 – Management Report Academic Year 2020/21 Assessment Guide Term 1&2 Module Leader Ann Olagundoye (FHEA, FCMI) [email protected] US2.06 Student Hours: Tbc ( ...

Course

SG6000

Subject

Management

University

University of East London

Season

Fall

0 Page
Elements That Facilitate Business

...

Course

ACC1018

Subject

Management

University

Cambrian College

Season

Spring

16 Pages
SM9511 Global Business Environment

Questions: The key to success for your participation in the NUMUN discussion is twofold:-    rigorous and meticulous preparation;-    competence and capability of its attending delegates.    ...

Course

SM9511

Type

Assignment

Subject

Management

University

Northumbria University

Season

Fall

QAB020N516A Entrepreneurial Opportunity

Question

Answered

Task:

Micro level market assessment:
1. Market Domain/Micro Level: Sector Market Benefits and Attractiveness

Realistically, it's unlikely that your venture will meet the needs of everyone in the market. You'll be more successful if you target your idea at one market sector or segment , and aim to meet its needs fully.

To identify this segment, look at the market on a micro level. Think about the following questions:
• Which segment of the overall market is most likely to benefit from your venture?
• How is your venture or product different from others already servicing this segment?
• What trends is this segment showing? Is it growing, and, if so, is this growth set to continue?
• What other market segments could you access if you're successful in this one?

Micro level questions about target markets
1. Is there a target market segment where we might enter the market in which we offer the customer clear and compelling benefits, at a price he or she is willing to pay?

2. Are these benefits, in the customer’s minds, different from and superior in some way – better, faster, cheaper or whatever – to what’s currently offered by other solutions?

3. How large is this segment, and how fast is it growing?

4. Is it likely that our entry into this segment will provide us entry into other segments that wemay wish to target in the future?
b) Three ways to define market segments

1. Who the customers are i.e demographic terms (age, gender, education, income etc) if itis business to business, then it will refer to the industry in which the customers do business, plus firm size and firm characteristics.

2. Where the customers are in geographical terms?

3. By how the customers behave (life style terms) or in business to business how the products may be used.

c) The micro market test

1. What customer pain will your offering resolve? How strong an incentive do customers have to give you their money? Will customers buy what you propose to offer?

2. Who precisely are the customers that have the pain? Do you have detailed accurate information about who they are, where they live or do business or what they do?

3. What benefits does your offering provide that other solutions don’t?

4. Does the target market have the potential to grow?

5. Are there other segments that could benefit from a related offering?

6. Can capabilities that are transferable from one segment to another be developed?

The macro market test

1. What sort of business is sought? One with potential to become a huge business, or a small lifestyle operation? This along with the answers to the following question will determine the need for venture capital. A high potential business in a huge, rapidly growing market will require venture capital whereas a small lifestyle operation in a niche market will not need any.

2. How large is the market?

3. How fast can it grow?

4. How quickly can it grown in the next six months or two/three/five years?

5. What economic, demographic, socio cultural, technological, regulatory or natural trends can be identified and how will it affect the business?

QAB020N516A Entrepreneurial Opportunity

Answer in Detail

Solved by qualified expert

Get Access to This Answer

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

14 More Pages to Come in This Document. Get access to the complete answer.

Looking for corporate assignment help? Then MyAssignmenthelp.com is your one-stop answer. We render custom-made assistance with corporate as well as with IT assignment. We are available 24*7 to offer operating system, database, MATLAB, web development and lots of other IT subject based assignment help. We work round the clock to ensure 100% students satisfaction with our delivered service and to make sure that students get assistance on urgent basis.

More QAB020N516A QAB020N516A Entrepreneurial Opportunity: Questions & Answers

Q
icon

We aren't endorsed by this University

MGT302A strategic management

To prepare for this assessment, the following steps are advised:Step 1 - Read the subject materials for modules 1 to 4 (weeks 1 to 8).Step 2 - Decide which ONE of the three organisations you will choose as the case study foryour report by reading the relevant parts of their websites, annual reports ...

View Answer
Q
icon

We aren't endorsed by this University

Context Of A Research Project

Updated October 2020 1 SG6000 – Management Report Academic Year 2020/21 Assessment Guide Term 1&2 Module Leader Ann Olagundoye (FHEA, FCMI) [email protected] US2.06 Student Hours: Tbc (US2.06)/ (DL3.25/DL3.23) Other Tutors Susan King Susan.King @uel.ac.uk Room: US2.16 Student Hou ...

View Answer
Q
icon

We aren't endorsed by this University

Elements That Facilitate Business

...

View Answer
Q
icon

We aren't endorsed by this University

SM9511 Global Business Environment

Questions: The key to success for your participation in the NUMUN discussion is twofold:-    rigorous and meticulous preparation;-    competence and capability of its attending delegates.    Seminar Objectives •    To learn about the United Nation’s role in the world and its processe ...

View Answer

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the content removal request.

Choose Our Best Expert to Help You

5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

screener
ribbon
callback request mobile
Have any Query?