Identifying Your Market

Conduct a preliminary environmental and market scan

Initiate the business planning process by identifying their product or service

Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time. Complete the following:

• Conduct preliminary market research for your venture, and write a paper of 1,500–2,000 words that responds to the following questions:
  • What is the scale of the industry (in units and dollars)?
  • What is the scope (geographical range) of the market? Is it local, regional, national, international, or global?
  • Is it a niche industry, or does it reach a mass market?
  • How profitable are the players in the industry?
  • What trends are occurring in the industry?
  • What competition is in the marketplace, and what are they doing?
• Include visual aids where they are appropriate.
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• Remember the business of choice is still coffee.