Assignment 1B: Concept StatementWeight ungraded but requiredDue later than 11:00 p.m. on Sunday of unit 3 but submitted as part of report 1 in unit 6ObjectivesOn successful completion of this assignment, students should be able to define strengths of the product/service, identify the target market and the customer needs and likelihood to use your proposed product/service, analyze the financial needs and issues related to the startup of the business and the potential financial performance, and analyze the overall potential of your product/service and its likelihood to succeed.Brief DescriptionThe purpose of this assignment is to prepare a Concept Statement identifying the features of your product/service, target market, benefits or value of your product/service, and who will make up your management teamSubmission InstructionsPrepare a Concept Statement of no less than 500 words that address the following concepts: Product or Service description that details the features of the product or service Target Market description listing the consumers or businesses who are expected to buy the product or service Identify the benefits or value of the products or service and how this will add value or solve a problem Identify the management team you will assemble.You will receive feedback from the instructor on your submission. In unit 6 you will be resubmitting this as a party of Part 1 of your project.Evaluation and FeedbackThe Concept Statement will be marked in its entirety out of 100. The following rubric indicates the criteria students are to adhere to, and their relative weights to the assignment overall.
Activity/Competencies Demonstrated % of Final GradeContent: Students are expected to demonstrate competency in regards to critical thinking, communication (spelling and grammar) and APA formatting in their response to the following learning outcomes.a. Identifies new business idea and provides details of the product/service /20b. Differentiates between an idea and a realistic opportunity /15c.. Identifies the projected target market for the product/service /15d. Identify the benefits or value of the products or service and how this will add value or solve a problem for the target market /20e. Identifies the management team the organization will assemble /15f. Demonstrates good organization, including a strong introduction and conclusion. /15Total /100
Assignment Paper on Concept Statement