The Market Structure assignment is part of a series of assignments designed to enhance students’ knowledge and skills in integration and implementation of a business plan during their four years undergraduate business program.
The specific objective of the Critical Assignment of BUS 180 is to enhance students’ knowledge and skills in evaluating and assessing the market structure for a start up business that they will develop. This exercise will provide the students with the opportunity of integration and implementation of theory to practice and will prepare them in development of a comprehensive business plan during their senior year in the capstone course.
In BUS 180, each student will experience creating a start- up business to produce a specific product (a good or service). A three to five (3-5) page written research paper on the start- up business, the product and the market structure of the industry is required. Important:
The paper needs to present sections on…
The paper needs to present sections on…
Product information
This may be a good (tangible product) or a service (intangible product)
This may be a good (tangible product) or a service (intangible product)
Product life cycle (Must include all four stages).
Tell me what is the current stage of your product and the initial and potential scope of the market in which the product will be supplied.
Tell me what is the current stage of your product and the initial and potential scope of the market in which the product will be supplied.
Existing Competition / Market
Who are they? Do they present a serious threat? Why or Why not? Include characteristics of the rival producers/organizations such as how long have they been in business, market share, market capitalization, etc. Identify the various barriers to entry to the market structure in which the proposed business will compete. Identify the entry strategy and the application of economies of scale for the proposed business.
Demand for the Product
Identify the characteristics of the buyers and the potential demand for the product; and the strategy of the start- up business for pricing, production and maintaining it’s competitive advantage. Identify the degree of price, income and cross elasticity of demand for the proposed product and their influence on the various pricing and production strategies of the proposed business.
Critical Analysis
Here is where you will put your conclusions and the potential for this startup. What would it take to make it successful? What is the potential demand, etc. This is a summary of everything above, but not a regurgitation. Use it to tell me why what you posted above is important.
The written paper is to be typed single–spaced, 1’ margins, Times New Roman and 12-point font, with correct spelling and grammar, proper citation, references, with a cover page and organized with headings. The instructor’s approval of the topic is required.
Who are they? Do they present a serious threat? Why or Why not? Include characteristics of the rival producers/organizations such as how long have they been in business, market share, market capitalization, etc. Identify the various barriers to entry to the market structure in which the proposed business will compete. Identify the entry strategy and the application of economies of scale for the proposed business.
Demand for the Product
Identify the characteristics of the buyers and the potential demand for the product; and the strategy of the start- up business for pricing, production and maintaining it’s competitive advantage. Identify the degree of price, income and cross elasticity of demand for the proposed product and their influence on the various pricing and production strategies of the proposed business.
Critical Analysis
Here is where you will put your conclusions and the potential for this startup. What would it take to make it successful? What is the potential demand, etc. This is a summary of everything above, but not a regurgitation. Use it to tell me why what you posted above is important.
The written paper is to be typed single–spaced, 1’ margins, Times New Roman and 12-point font, with correct spelling and grammar, proper citation, references, with a cover page and organized with headings. The instructor’s approval of the topic is required.
The paper will be graded using the following guidelines.
Specifically identified the product, its life cycle and the initial and future scope of the market (local, national, international/global) intend to serve. 10 points
Recognized and evaluated the market structure, degree of competition and the availability of substitutes initially and in the future, locally and globally for the proposed product. 15 points
Identified the various barriers to entry to the market structure in which the
proposed business will compete. Identified the entry strategy and the application
of economies of scale for the proposed business.
10 points
proposed business will compete. Identified the entry strategy and the application
of economies of scale for the proposed business.
10 points
Evaluated and specified the potential demand and buyers of the proposed product.
10 points
Identified the degree of price, income and cross elasticity of demand for the proposed product and their influence on the various pricing and production strategies of the proposed business.
10 points
Specifically described the competitors and evaluated the strategies to maintain the competitive advantage of the proposed business in the market.
15 points
10 points
Identified the degree of price, income and cross elasticity of demand for the proposed product and their influence on the various pricing and production strategies of the proposed business.
10 points
Specifically described the competitors and evaluated the strategies to maintain the competitive advantage of the proposed business in the market.
15 points
Critically evaluated the current and future industry trend for the proposed business.
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