Reference no: EM133204152

Problem:

Describe an original idea for a possible new business. This may or may not be an idea for a business, actually intend to pursue. This is intended to see a market opportunity or a customer problem that needs a solution. It's also intended to be an opportunity to think through what a potential solution might need to look like in order to gain market acceptance.

Answer the following questions:

1. Who are the target customers? In a few sentences, describe the types of people who would be most likely to purchase the solution. If they are businesses, describe the type of businesses and the titles of the people inside the businesses who would use the solution. (100 words maximum)
2. What customer need(s) this business would address? What is the problem that customers have and why would they be motivated to purchase the solution instead of some other solution? (100 words maximum)
3. What is the proposed product or service? In a few sentences, describe the product or service that would provide and how customers would use it. How would it be different from products or services that are available to customers today? whether the the product can be made now, or does it require the development of some new technology? (150 words maximum)
4. How will the product or service address the customer need(s)? Describe the specific ways that the product or service would solve customers' problems or provide the benefits that they are seeking. Be specific about how the product described in answer to question 3 meets the customer need described in question 2. (150 words maximum)
5. How did this idea came up? How did customer need was learnt/understood? any experience that would help develop the solution or reach the target customers?  (50 words maximum)