Innovation Description and Industry & Trends Analysis

Innovation Description and Industry & Trends Analysis

Innovation Description

•             Describe the type of business and legal structure (e.g., LLC, sole proprietorship) of your business.

•             Provide a clear, concise and interesting description of what the innovation is uniquely bringing to the marketplace

•             Discuss the distinctive core competencies of your business.

•             Provide an overview of the location of your business.

•             Discuss the demographics of your target market.

•             Length: 2 pages.

Industry & Trends Analysis- abt 2 page

This narrative describes the state of the industry, market research, barriers to entry, identifying competitors, identifying market niche, expert advice, competitive analysis, and strategic positioning of your business.

Include the following detail:

•             The history of the industry

•             Size of the industry

•             Industry evolution

•             The trend–where the industry is expected to be in five to ten years

•             The key players in the industry (those who do something like this well and those who do not, something different)

Perform a competitive advantage analysis, including:

•             Barriers and challenges to entering the market

•             Environmental scan

Include a preliminary SWOT analysis (aka situation analysis) that includes presents a clear statement of the opportunities and threats through preliminary SWOT analysis. The SWOT analysis connects to the research and results in data-driven decision making. The SWOT will be fine-tuned in later assignments.

Other issues to include, if applicable, are:

        •        Copyrights, patents, & intellectual property rights

        •        Research & development activities

        •        Failures in the industry

        •        Opportunities

        •        Changes in the market

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