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So you think you have a great idea…
The Market Opportunity Section is intended to convince your reader that there is both a need and demand for your product or service. This section should demonstrate an understanding of your customers in terms of demographics and the factors that will influence their decision to purchase your product or service.
The viability of your business is based on a variety of factors - the market opportunity, the business model, the social and financial outcomes and the management team. This section answers the key question: Why is the business needed and by whom?
- External and Industry Context of the business.
- Market Description, including size, growth rate and level of demand for your product offering.
- Customers, including target segments, demographics, purchasing power and decision factors.
- Competition at the local, regional and national levels.
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