Market, Market Sizing and Industry Macro Analysis

3-page written report and updated BMC to be submitted in this deliverable

For this Deliverable, you are asked to apply part of John Mullins’ New Business Road Test (reading for Week 11) framework to your team’s venture concept. Specifically, you are asked to conduct secondary research on your idea’s macro-market and macro-industry to analyse the attractiveness of your chosen market and industry and draw conclusions regarding the implications for your venture concept.
Your findings and conclusions should be reported in a 2-page, formal report (see content requirements below), and any implications for your basic business model from your research and analysis should be illustrated on an updated Business Model Canvas (BMC).
In the report, at least three sources should be cited (via in-text citations and a reference list in APA-style), with at least one of these sources being a database accessed through UIC’s library.
Formatting requirements: Double-spaced, 12-point font, and 1” margins
Report content requirements:

1. Macro-market analysis
   a. Identify and define your idea’s macro-market (note: Macro-market is essentially the TAM for your concept). (“Our macro market is , which is defined as __ .”)
   b. Identify the current size of this market, in both:
   i. Number of customers
   ii. Aggregate money spent annually
   c. Identify recent historic growth of this market and projected growth for the next 5-10 years.
   d. Discuss at least two trends that are expected to affect this market in the future. For each, identify how it is expected to affect market demand.
   e. Identify unanswered questions (risks): Beyond what you have considered above, why else from a macro-market perspective might your idea not work? Identify at least two questions that would need to be answered about your macro-market to address outstanding areas of risk going forward. (You do not need to answer these questions; just identify them.)
   Market sizing (Top-down) combine, originally form deliverable 4 , combine with the above
   Identify your Your TAM, SAM, and SOM information
2. Identify your Total Available Market (TAM). Conduct secondary research to estimate the size of this market along with its projected future growth. Please be sure to cite your source(s) under this item in APA style.
3. Identify your Serviceable Available Market (SAM). This is your target segment (Define SAM in terms of: Who are they? Where are they? What are their particular needs?).
   Using secondary research and conservative creative thinking, estimate the size of the SAM for your venture. Please be sure to cite your source(s) under this item in APA style.
4. What % of the SAM do you estimate your venture could acquire as customers in your first year of operation? Develop and explain compelling rationale for this estimate, and translate this to a firm Share of Market (SOM) figure. If you do any secondary research to help you estimate this number, please be sure to cite your source(s) under this item in APA style.
5. Macro-industry analysis
   a. Identify and define your idea’s industry. (“We would be competing in the _ industry. This industry is defined as _.”)
   b. Describe the industry’s characteristics along each of Porter’s Five Forces:
   i. Threat of entry
   ii. Supplier power
   iii. Buyer power
   iv. Threat of substitutes
   v. Competitive rivalry
   c. Identify unanswered questions (risks): Beyond what you have considered above, why else from a macro-industry perspective might your idea not work? Identify at least two questions that would need to be answered about your macro-industry to address outstanding areas of risk going forward. (You do not need to answer these questions; just identify them.)
6. Draw conclusions
   a. Based on your research and analysis, how attractive is your macro-market? If it is less than attractive, how does this affect your business model?
   b. Based on your research and analysis, how attractive is your macro-industry? If it is less than attractive, how does this affect your business model?
   c. What additional implications do your findings have upon your new venture concept? Explain them here and be sure to include updates in your BMC. Please highlight changes to your BMC from your previous deliverable.