The business (service) is an event planning business.
Doing sufficient research is a necessity before launching a product or service into the marketplace. In order to compete with goods from all over the globe, an entrepreneur must determine what the best attributes, packaging, promotion, pricing, etc. are in order to successfully launch into the market. Even a business that is local is competing with nearby businesses. In terms of the virtual marketplace, the minute a company has a website on the internet, they have opened themselves up to a larger market. In this Discussion you will begin to prepare to do your research by finding appropriate sources of viable information.
- Identify three market research sources that you will use, and apply these to your customer and competitor analysis for your business plan. At least one must be industry specific (i.e. restaurants, elder care, etc.).
- Conducting an initial assessment, what do these three sources tell you that is specific to your company? Cite your research.