Business Finance Homework Help

Business Idea and Rubric attached below.

Evaluating different market segments helps to identify which one is most likely to be willing and able to purchase your product or service. In some cases, there may be several market segments that could potentially want your product or service. However, not all market segments will provide the same value to your business. As all businesses have limited resources, the initial focus should be on identifying the market segment with the highest value to your business.

Apple is a good example of being very focused on a select segment of the market. Apple’s product marketing team could make cheaper, less feature-rich, and lower profit products to reach a broader market share. However, Apple is comfortable with a smaller portion of the market that is willing and able to pay the premium price for their higher-end range of products. Several years ago Apple tried to make a cheaper iPhone, 5C, which was a failure. Understanding the highest value market segment can focus resources, minimize waste, and reduce potential failure. 

Students will assess the markets related to their business idea and analyze the landscape of potential markets. Students may use the worksheets attached below to this assignment to help guide their analysis, but these are not the required deliverables for the assignment.