Carrie Ann thinks she has identified a hot opportunity. She has watched the demand for tattoos and body art increase over the last several years. Carrie Ann believes that this trend is now leveling off and that in the near future many people who have gotten tattoos will want them removed. In anticipation, she has developed a nonsurgical approach to tattoo removal that consists of a cream applied to the tattoo. The area is then covered with gauze, and the cream must be reapplied every day for two weeks. At the end of two weeks, the tattoo is gone. A tube of Carrie Ann’s cream will retail for about $50.
Carrie Ann is concerned about the timing of her product’s introduction. She is not sure the window of opportunity is open wide enough at this time for her business to succeed, but she worries that if she waits for the opportunity to develop more fully, another product will beat her cream to market. How would you advise her in her opportunity analysis?
Review the below illustration and incorporate the four key elements in your response to Carrie. You should format your response into a memo. A sample of a memo.
Via the link to see A sample of a memo.
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