In a thorough Research, answer the following with the business concept “Rambutan Peel Extract used as skincare”.
Form Research Question. Input 3 or more questions. (Explore the various options and forms one or more hypotheses that best states the objective of the research. this should focus the researcher’s attention. In order for you to arrive at the research question, you must first identify the dilemma.)
Brief Background/ Concept Description (Summarize the essence of the business)
Research Objectives (Describe your research goals and objectives. Objectives should be SMART.)
Opportunity (Significance of Research). (Why is this business project a good opportunity? What do you do best? What is the current opportunity and evidences/ gut feel do you have to support the demand? What is the potential size of your market? What are the critical trends and how will your company exploit them? What is the compelling need?)
Product / Service. (Describe the product or service that makes it unique. How is the product or service to be produced, delivered, and qualified to compete?)
Value Proposition . (Who is your target market? What are the benefits to the target market?)
Marketing Strategy .(What are the key elements of your marketing strategy?)
Competitive Advantage. (Who is your competition? What is your competitive advantage?)
Management Team. (Who is the management team and why will they make a success of the venture?)
Methods and Techniques. (Briefly describe your research design. How would you collect and prepare data?)
Sources of information (Input at least (5) recent references; A-P-A Style)
Identifying business opportunities.
What business must we get into? What does the market need (market potential)?
Is there a GAP between supply and demand?
Capitalize on available resources.
Explore forward-backward industry linkages.
If we went into this business, would it assure us of a fair return?
13. Indicators in screening business options:
Ease of entry
Degree of risk involve
ROI (Return of Investment)
