Assessment Task 2: Opportunity Description and Country Assessment

Subject: GLOBAL ENTREPRENEURSHIP

In 2014 emerging markets accounted for 36% of the global GDP, while 2025 emerging market forecasts indicate a US$30 trillion opportunity (Mahmood, 2014). Yet most Multi-National Corporations (MNCs) still mainly target the top-end of markets with premium products, neglecting those consumers at the middle and base of the income pyramid. As recently as 2014, MNC earnings from emerging markets were estimated to be only 17% of total revenue (Mahmood, 2014). Consequently, there is great opportunity for established and start-up firms to redesign existing products or services, or design brand new products or services that meet the specific needs of consumers in emerging or developing markets.

Against this background each team must identify a new product/service opportunity* in either developed, emerging or developing markets for which they must develop a for-profit business model.The product or service can be an existing concept that is already available somewhere in the developed world, which teams may want to introduce in a new market with or without modifications to suit local conditions, or it can be completely novel. Therefore our business idea is: “
We’ll create a new product with use Greyter as template and combine the filter of drinkable book”

Task 2 consists of two parts.

Part 1describes in as much detail as possible and as appropriate, the problem that the team will attempt to solve with their (eventual) solution, in other words, and the opportunity they want to pursue. Please note that the team, consisting of one to four students, shall work together on this section and each member shall submit the exact same problem description in their individual report, and therefore obtain the same mark as the other members for Part 1. If individual group members do not contribute equally towards Part 1, the Group Leader must inform the course Coordinator who shall adjust marks accordingly.

InPart 2
each member of the group must select a different country and prepare a comprehensive country and industry assessment for the group’s chosen opportunity.
Each member will be marked according to how well he/she has assessed the conditions in the chosen country and how it might impact implementation of the project. Later, at the start of Task 3, the group will decide which (one) country is the most suitable and feasible for pursuing the chosen opportunity. For the purpose of this assignment we shall limit activities to a single country even though a multi-country strategy could be appropriate.

Suggested format

Each student must write a report of between 1,000 and 1,500 words consisting of the main sections below in which you must address the bullet points (use as a guide only). Justify everything in as much detail as possible and make use of appendices where appropriate to improve readability.

1.
Introduction (5%)

· Provide some context for this opportunity.

· Explain the purpose of the report.

· Provide an overview of your methodology and approach.

The Opportunity (Part 1) (500 words) (15%)

1.
Who is your target market(s)?

· List the segments you are targeting in order of importance and explain the rationale. (A target market is a particular group of consumers at which a product or service is aimed.)

· Describe on what basis you are doing your segmentation. Visithttps://www.thebalancesmb.com/target-marketing-2948355(Links to an external site.)Links to an external site.for clarification. What are the common characteristics that people in your segments share? Although you are not yet developing marketing strategies, knowing who your target markets are will benefit you tremendously at a later stage when you attempt to reach them with your marketing campaigns.

2.
What is the identified problem in the target market?

· Briefly discuss the problem(s) that each of your segments that you are targeting are experiencing. Does the problem vary among segments or is it the same? Conduct desk research and provide supporting evidence from secondary data sources. Be sure to include proper citations and a list of references. Not using EndNote yet? Then now’s your chance to make life easier when citing sources:https://www.rmit.edu.au/library/research/endnote-managing-your-references(Links to an external site.)Links to an external site..

3.
What are the perceived needs of your target market?

· Based on the problems you identified, break down the specific needs and wants of your target segments. Once again be sure to cite your sources. Useful resource:https://study.com/academy/lesson/the-difference-between-wants-vs-needs-in-economics.html(Links to an external site.)Links to an external site.

· Are you aware of anylatent needsamong your segments?

https://info.go-further.co/furthermore/latent-needs-can-deliver-the-products-and-services-of-tomorrow-using-qualitative-research(Links to an external site.)Links to an external site.

4.
What existing product or service do you want to use ‘as-is’ or re-design for your overseas market? (if applicable)

· Provide a brief overview of what existing solution(s) exist somewhere in the world that could possibly form the basis for addressing your target markets’ problems.

5.
What new product or service do you want to design for your overseas market? (if applicable)

· Provide a brief overview of what new solution you are thinking to develop that could possibly address your target markets’ problems.

IMPORTANT NOTE for 4 and 5:Provide a broad (high-level) description of your proposed solution as at this point in time you are only at the concept stage.

Country and Industry Assessment (Part 2) (20%)

As explained in the Course Assessments document this section of Task 2 must be completed individually. If time permits in week 5’s tutorial, individual team members can already start with collecting information about the particular nation in which their target market resides that they consider targeting. This activity will continue in Week 6’s tutorial.

Entrepreneurial Opportunity Environment: (Referred to as the in-country conditions that create opportunities for entrepreneurs.)During week 2’s tutorial you already explored the use of this toolhttp://www.doingbusiness.org/en/rankings(Links to an external site.)Links to an external site.for countries in general. Now is your chance to apply it to collect a variety of external environment information about your particular country.

· What are the country characteristics that potentially impact your project? (Politics, economics, culture, geographic, environment, technology, legal and banking). Provide brief explanations.

· Conduct an industry and competitive analysis and discuss the implications on your proposed venture.

· Identify and discuss the key country assumptions and risks that might impact your venture.

· Identify and discuss the key success factors for your project in your target country.

4.
Conclusion