What is the state of the current market for you solution? .
To complement your prior analysis of the Solution, this week’s interviews should focus on the market opportunity, with the interviewees being those with insights on the below questions. Your insights and plans in this chapter should also be informed by your primary research and secondary research. This chapter of the business plan to be authored this week should address:
- What are your specific target markets? How many buyers exist in your target market(s)? Be sure to quantify your information, and provide references.
- Who are your specific customers? Be as detailed as you can by industry all the way down to who will actually use your product?
- What is the state of the current market for you solution? Is it highly fragmented?
- What does the market do now to address your problem? Do they spend any money on your problem? If so, how much and with who?
- Do you perceive your target customers as having sufficient budget/power to actually be able to purchase your product?
For this chapter, a 2-3 page single-spaced length is appropriate. Tables, graphics, and related visual tools to efficiently communicate key information is encouraged.
Be sure to support your analysis and decisions with research and references. References may be included in APA format.