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Assignment #1: Conduct primary and/or secondary research to determine the market feasibility and growth potential of your business venture, and then develop a report that you would give to an investor to convince him or her of the viability of your project. (CO1)
Minimum 2 pages
Minimum 2 scholarly sources
Assignment #2:Use the 5 key determinants of Diffusion of Innovation to apply to a survey to assess the interest level of your target market for your innovation. Using the 5 key determinants of the Diffusion of Innovation (Rogers, E. 2003), frame the challenges into scales using the attached survey methodology for constructing your innovation questionnaire. Next, reach out to potential/current customers in your target market and ask them to complete the survey. Compile your results. Please use the attached document as your guide.
Minimum 2 pages
Minimum 2 scholarly sources
-Assignments are due 7 June 2020
Week 1 Assignment: Survey Methodology Innovation Diffusion Theory uses scales designed to measure the predictive strength of antecedents of innovation adoption. The following 3-step process should be used for the construction of a self-administered questionnaire, or a researcher administered survey. Step 1. Specify the innovation and define the constructs: The focus is on the perception of using the innovation, rather than on the innovation itself since the actual product(s) doesn’t exist. The following antecedents form the basis for the following construct definitions: 1. Relative Advantage: the degree to which the innovation is perceived as being better than its precursor 2. Compatibility: the degree to which the innovation is perceived as being consistent with the existing values, needs, and past experiences of potential adopters 3. Complexity: the degree to which the innovation is perceived as being difficult to use 4. Trialability: the degree to which the innovation may be experimented with before adoption 5. Observability: the degree to which the results of the innovation are observable to others. (Rogers, E. 2005) Step 2. Generate a sample of items: Using Roger’s antecedent definitions above, develop a series of questions, 2 per construct 10 in total, to assess a respondent’s attitude towards the adoption of the proposed innovation. (Rogers, E. 2005) Item format: 7-Point Likert scale Level of measurement: ordinal, interval, categorical Step 3. Collect data with survey instrument and analyze data using Excel. Analyze Data: Use descriptive statistics; e.g. mean, media, mode, to analyze the distribution of the data.