Assignment 1B: Concept Statement
On successful completion of this assignment, students should be able to
- define strengths of the product/service,
- identify the target market and the customer needs and likelihood to use your proposed product/service,
- analyze the financial needs and issues related to the startup of the business and the potential financial performance, and
- analyze the overall potential of your product/service and its likelihood to succeed.
The purpose of this assignment is to prepare a Concept Statement identifying the features of your product/service, target market, benefits or value of your product/service, and who will make up your management team
Prepare a Concept Statement of no less than 500 words that address the following concepts:
- Product or Service description that details the features of the product or service
- Target Market description listing the consumers or businesses who are expected to buy the product or service
- Identify the benefits or value of the products or service and how this will add value or solve a problem
- Identify the management team you will assemble.
You will receive feedback from the instructor on your submission. In unit 6 you will be resubmitting this as a party of Part 1 of your project.
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