For this assignment, we are interested in your perspectives on the opportunities and challenges of the market within which your New Brunswick Business Idea will operate. This assignment builds upon Assignment 2 – looking at competition and competitive forces. With the industry analysis focusing on your competitive environment and related industry factors, this market analysis focuses on customers and the macroeconomic changes that you may experience as you compete within your chosen industry.
In a first-person narrative of no more than two or three single-spaced pages (12 point, Times New Roman, 1″ margins), we ask that you explore the following questions related to the market you are targeting with your New Brunswick business idea:
- What demographic changes are creating new market needs?
- What psychographic changes are opportunistic?
- What technical advancements are emerging?
- What societal changes are presenting new opportunities?
- What political and regulatory forces will influence the market?
The objective of this assignment is to help you understand market dynamics, while also directly supporting the completion of your New Brunswick Business Idea project, including how you will compete effectively within your chosen market.