Imaginary company

• Come up with a business idea and give it a name (If you would open your own business today, what would it be and how would you call it?) • Prepare a report of your newly created business. Your report should include the following (note: these questions are to be used as a guide; do not write in question/answer format) • A summary of your business, its name, products and/or services offered as an introduction • What is the marketing environment like (customers, competitors, technological,...)? • What products are in competition with this product? What advantage does this product have over the competition? • Is it a market with high or low entry barriers? • How would you segment the market (choose a segmentation approach) • And which market segment would you target first and why? • Summarize your results