For this assignment you will become the CEO of a new company. You will begin by describing this new company. You will use this company in future assignments. Write up a SHORT presentation or summary of one page or less answering the questions.
For your new company, you will need a description of the product or service.
Identify the market by answering the following questions:
Who could be your potential customers for this product or service?
Who could be your potential competitors for this product or service?
What information would you seek about potential customers and competitors—list questions you would want answered.
How will you find out this information—what kind of market research would you do?
What do you think are the growth possibilities for this company?
Here is a list of some example companies. You are not limited to these examples. These are only examples to help you develop your new company idea.
Growing retailer of non-perishable consumer products (electronics and books)
Small but flourishing local business with one or two locations (florist and pizza restaurant)
Medium-sized manufacturer struggling in a challenging market (automotive and electronics)
Medium-sized service organization with several locations (law firm and accounting firm)