Group Assignment #1: Market Assessment
It’s important to understand the size and composition of the opportunity and challenges in your marketplace. For this assignment, you will: Identify the target customers for your business - provide a brief profile demographically and psychographically. Define the geography that serves as the marketplace (perhaps a “core” geography and a “stretch” geography). Provide meaningful insights on the local marketplace, such as: # of people in the area who utilize the type of products/services offered, amount of money spent in the area on the type of products/services offered. Identify all significant competitors and explain why they are competitors - organize as “core” competitors and “secondary” competitors.