Identify a small business you’d like to open. What types of products or services do you...

Identify a small business you’d like to open. What types of products or services do you plan to offer?

Describe trends, your target market and major competitors (size, demographics).
Conduct some research that supports your claims.

Can there be a little more explanation on 'trends' and 'demographics'?

Expert Solution

A small business that I would like to open a small computer hardware store. The products that I am planning to offer are computer hardware and peripherals.

a. There is a huge demand in competitive gaming/multiplayer gaming and even users are seen to YouTube to stream their content. Therefore, it is important to mention that my target market will be video game players aged between 18 to 35 years. The major competitors include the other similar stores selling computer hardware and peripherals.

b. When a local survey was conducted, it revealed that there are not many retailers that sell computer hardware and peripherals. Although there is a big demand for gaming PCs. however, there are not many retailers capitalizing the on the same.

The trends and demographics reveal that there is a high trend among adults regarding the multiplayer gaming/competitive gaming and this has increased due to the YouTube streamers. The game developers are even emphasizing on the multiplayer games and this has increased the number of players adopting this style. Thus, individuals around the age group of 18 to 35 are a potential market for selling gaming computers and peripherals.

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keosha answered 1 month ago

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