You will create a business that will rely on selling its products or services online. The business must be in a different industry than the

You will create a business that will rely on selling its products or services online. The business must be in a different industry than the

You will create a business that will rely on selling its products or services online. The
business must be in a different industry than the one you used on Assignment 2.
Do NOT choose AMAZON. I wrote Amazon on Assignment
2.
Defining your business

  1. Select the name of your company
  2. Choose one or two products or services you will sell within the industry (for
    example, if you select shoes, you can sell one or two different models of shoes; if
    you define your industry as fashion, you can select a pair of pants, and a hat)
  3. What is your target market? (To whom will you sell your products?)
  4. Use Porter’s Five Forces to evaluate the industry you are entering
    a. Is buyer power low or high?
    b. Is supplier power low or high?
    c. Which substitute products and services are perceived as threats?
    d. Can new entrants, lie you, easily enter the market?
    e. What are the barriers to entry?
    f. What is the level of rivalry among existing competitors?
    g. What is your overall view of the industry?
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