Description of the Market Opportunity

Posted on May 4, 2022 | by Dan

This is where you describe the market problem you perceive and speculate on how much market demand could be generated by this problem. Don’t describe your solution to the problem – your business idea – just describe the problem that consumers are having.

Show examples of the problem you perceive
Speculate on how broad-ranging this problem may be
Indicate the nature of the difficulty this problem creates for consumers
2.2 Description of the Business

This is where you describe your solution to the problem you described in the prior section – in other words, your business idea. Provide all the details about your idea and why it has a strong chance of being successful. This section is very important and will be referred to continually as you develop future chapters of your Business Plan. You will probably come back to this section and updated it as further details about your business are developed.

This section should explain your product or service, including a description of how it is unique and how you position it in the marketplace
Discuss how your product/service differs from others in terms of the features or price range
Identify your prospective clientele and why they would patronize your business instead of others
Explain any proprietary aspects of your product or service and how you will create barriers to entry
2.3 Current Status of the Business

You should presume that your business has already launched 12 months ago using your own money – and has produced some low volume results that point towards business success.

Provide a brief timeline of the company’s history in narrative form and talk about its major achievements
include a simple history of sales volume, revenues, and net income growth.
Outline early customer reaction to your product or service
Describe the current composition of your management team
Describe the financial status of your company

Sample Solution

ation needs nitrogen, but it can easily change locations, so the older leaves are left without nitrogen (Kosinski, 2018). Lack of nitrogen causes acceleration in flowering and reduced fruit production by delaying cytokinin synthesis and speed up abscisic acid synthesis (Kosinski, 2018). You can tell if the tomato plant is suffering from nutrient deficiency by looking at its stem and leaves. The plant’s stem will be stiff, upright, and thin (Kosinski, 2018). The plant’s leaves will be small and yellow if it is lacking nitrogen (Kosinski, 2018). The second most common nutrient that soil lacks is phosphorus (Kosinski, 2018). Lack of phosphorus causes increased respiration rates, stunt in growth, and delayed leaf growth (Kosinski, 2018). Figuring out whether or not a plant suffers from phosphorus deficiency is very difficult because since the leaves are very green, it looks like the plant is very healthy (Kosinski, 2018). The only way you can spot phosphorus deficiency in a plant is if you have a plant that is a control to compare it to (Bergmann, 1992). Tomato plants that lack phosphorus usually are a purple color on the bottom of their leaves, dark green young leaves, yellow older leaves, curled leaflets, stems that are purple and thin, and small fruit production (Kosinski, 2018). The leaves on the tomato plant will also have a bluish-green tint if it suffers from phosphorus deficiency (Dore, 2008). Plants that are grown in distilled water show more symptoms of nitrogen deficiency than phosphorus deficiency (Kosinski, 2018). Distilled water plants usually have stunted growth and chlorosis (Kosinski, 2018). The results of growing a tomato plant using only distilled water shows two things about what is vital for a plant to survive. It shows that nitrogen is the most important element found in plants, and that means that if the plant is lacking nitrogen, then the plant does not really need the other nutrients as much as it usually does and so you will not really see the symptoms of other nutrient deficiencies (Kosinski, 2018). Our first null hypothesis was that there would not be a difference in weight or SCC between the complete treatment and the distilled water treatment. Another null hypothesis was that the weight and the SCC of a plant would be the same when either using the complete or the treatment lacking nitrogen. Lastly, our last null hypothesis was that there would not be a difference in weight or SCC between the complete treatment and the treatment lacking phosphorus. My specific lab table was assigned to observe and take care of plants that were using the distilled water treatment. Materials and Methods Using the Plant Nutrient Deficiency OMP provided on the Biology 110 website, my table was assigned the distilled water treatment and we ran an unpaired test. First, we randomly chose one plant from the flats and removed the soil off of the roots using a washtub. We then placed the plant in a beaker full of distilled water. Afterwards, we planted the plant in a hydroponic recirculator that pumps nutrient deficient solution past the roots of the plant. In order to plant the plants in the hydroponic recirculator, we had to clean the pl

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