GEB 2102 Entrepreneurship

Group Assignment 1 - Idea Generation, Product Concept, and Feasibility Study

Assignment Requirement Marks

Part 1 5 marks
Generate idea for a product or service of your business startup.
a. Use the idea sketch pad to help you to organize your idea.
b. The market for your product or service is for working adults.
Part 2 5 marks
i. Based on the information in the idea sketch pad develop a
product (service) concept statement.
a. A concept describes a product, service or brand and how it will
improve a consumer’s life. A concept statement answers:
• Who is it for?
• How does it fit into their life?
• What will it do for them?
• Why should they believe you?

b. The product concept statement is just a page length

(Microsoft words, font 12, and double spacing)
Part 3 10 marks
i. Before the idea or concept can be accepted it has to be tested.
Test your concept statement using the feasibility analysis.
a. Use the appendix 3.1 Full Feasibility Analysis handout as a
guide to perform the feasibility analysis.
b. For the purpose of this assignment, you just have to analyze,
• Product/service feasibility and
• Industry/market feasibility
c. You then have to improve your idea based on the result of the
feasibility.
d. Prepare the analysis summary in Microsoft words format, font
12, and 1.5 spacing.

Summary of submission:
1. Idea sketch pad
2. One page Concept Statement
3. Product/service feasibility and Industry/market feasibility appendix 3.1
4. Summary of feasibility analysis
Idea Sketch Pad template (Example)
The Concept Statement (Example)