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and its growth potential. Description of the Industry and MarketThis section should include the following:? Description of the industry? Industry size today (in $ and or units), Forecasted industry size in 35 years? What are the major drivers for growth? For example, are products being more affordable, easiertouse, faster, greater performance? Is there increased awareness about the industry that might be driving growth? Is positive user experience driving growth?? What trends are emerging in the industry? For example, are there standards in the industry? Are there new technologies ing out? Are big panies being interested in the industry? Is there a tendency towards consolidation? Where is the market heading?? Industry’s value chain (a diagram is remended)Customers and Market Segmentation? How is the market segmented? By price, application, etc.? What is the size, the growth rate and the needs of the targeted market segment?? Who are your immediate customers, who are the end users?CompetitionThe purpose of this section is to present factors that influence petition in your industry, to present who your main petitors (or petitors’ groups) are and your strengths / weaknesses visavis each petitor (or group).? What are the crucial petitive factors in your industry? Price, reliability, pliance with standards, installed base, timetomarket, technological innovation, availability of customer support?? Who are the main petitors’ groups? Provide a short description of each group, the differentiating aspects of their products, corporate resources, market positioning, etc. Who are their customers? Include a summary table that pares the peting solutions and your proposed solution.Company Name Business Plan____________________________________________________________________________________________________________________________________________________Confidential and Proprietary / 155The Business OpportunityThe purpose of this section is to explain the market need for the product / service. The idea is to show what is lacking in the industry and the business benefits that will be gained by resolving these issues. Note that these issues should correspond with the problems that your new product will resolve.This section should include the following:? What are the key needs of the customers in the target segment?? What are the challenges that the industry is facing (that the new innovation responds to)? For example, are products unreliable, highly fallible, inpatible, require long training periods, provide poor performance, expensive, not broadly available?? What will be the business results for users if these challenges are overe? For example, greater productivity, lower costs, shorter timetomarket? What will be the business results for users in $ / % terms? For example, costs will be cut by $x, productivity will be increased by x%.? Who has the most to gain for these improved business benefits? Who is hurting the most from the fact that the industry has not yet overe the challenges described above? Who will be willing to pay for the improved business benefits?? What is the revenue opportunity?Company Name Business Plan____________________________________________________________________________________________________________________________________________________Confidential and Proprietary / 156The Innovation – Product or Service Description(3 – 5 pages)The purpose of this section is to present the new product or service and show how it will overe the challenges presented above.Overview of the Product or Service? What is the new product / service which the pany is proposing?? What stage of development is it in?? What is the quantum leap that makes your solution superior Product Benefits? What are the benefits of the new product / service to the different markets? How does it resolve the challenges described abov