Status of Technology for your Product - Accounting and Finance Assignment Help

Assignment Task :

Research Report Part A - Plan & Draft  

Digital Technology is reaching all parts of our lives and is now with us in our cars, homes, and workplaces.  How far will its reach extend in 10 years? Create a Business Idea:

• Will we locate our children using their implanted IP addresses? 

• Will our health be guaranteed by implanted sensors to measure functions of internal organs?   

• Will labour intensive jobs be replaced with Robots?

The scenario

Being of an entrepreneurial bent, you have been looking for a way to jump onto the digital technology bandwagon and now are seeking a fantastic business idea for a new digital product. Using the methods you have learnt in class plan and write a draft feasibility report for your new business idea. 

Your task

Conduct research in your groups and demonstrate your understanding of the lecture material in developing a report titled “Creating a Business Idea – Our digital technology idea”.  Your business report should answer the following questions to test the feasibility of your business idea:

Describe and explain your digital technology product:

1. What problem are you solving? Define your problem statement?

2. What are the features and benefits of your product or service?

3. What are the demographics, trends. patterns of change, and lifestyle stage of the industry? 

4. What are the barriers to entry and are there any barriers you can set up? 

5. What is the status of technology for your product/service, and what is the level of innovation? 

6. What are typical profit margins in the industry? 

7. Who are the opinion leaders in the industry and how do they affect the industry? 

8. What are distributors, competitors, retailers, and others saying about the industry? 

9. What are the demographics of the target market? 

10. What is the profile of the first customer? Are there other potential customers? 

11. How have you approached customers to learn about their needs? 

12. Who are your competitors, and how is your product differentiated from competitors?

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