With reference to Reading 4.2 you are to prepare an opportunity analysis report for
a new tourism or hospitality venture that you nominated in Assignment 1 part (b)
that is innovative and builds on a clearly identified opportunity. The opportunity
analysis report has four sections: (1) a description of the idea and its competition; (2)
an assessment of the market for the idea; (3) an assessment of the entrepreneur and
the team; and (4) a discussion of the steps needed to make the idea the basis for a
viable business venture. You will be required to complete the first two sections for this
assessment.
Task
• The first stage of the opportunity analysis report should include, but need not be
limited to, the following components: a description of the venture and location,
including why it is innovative
• site layout/menu lists/prices charged for services and discuss how you have come
to arrive at these prices
The second stage of the opportunity analysis report is to prepare an assessment of
the market for your idea and should include, but need not be limited to, the following
components:
• identify your target market and detail how you have come to select the chosen
market
• an industry and a market analysis, showing evidence and findings of detailed
market research (secondary and/or primary) which would support the feasibility
of the business; a sample outline of these tables is provided in Unit Documents
• a complete marketing plan including costs for each category used e.g. the 4 P’s.