Analyzes macro environment affecting your venture industry

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Question: Create a feasibility and competitive analysis report to determine the likelihood of success for a proposed new venture. Include the macro environment affecting your venture's industry, the value proposition, the main customer segments, and a competitive analysis for your new venture.

This assessment examines ways to identify customers and target markets as well as how to conduct a feasibility and competitive analysis report for a new venture. You will conduct a feasibility and competitive analysis that:

Analyzes the macro environment affecting your venture's industry.
Specifies the value proposition.
Identifies the main customer segment.
Conducts a competitive analysis for your new venture.

A bootstrap marketing plan can be used to identify customers and target markets for a new venture. The goal of marketing is to create and deliver desired goods and services to customers, and it includes all of the activities for winning and retaining loyal customers (Scarborough & Cornwall, 2019). These activities include identification of the customers who are most likely to buy products or services from your business and focusing marketing efforts on these customers. A competitive and feasibility analysis can be used to identify the viability of a business idea. This analysis is the first step in determining if there is a market for the new venture's product(s) and/or service(s), and determines how much the product(s) and/or service(s) appeal to potential customers.

Reference no: EM133489479

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