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