The objective of this assignment is to develop your skills in idea generation and evaluation for a proposed business venture. As future managers, you need to be able to identify innovative and viable business ideas that can drive growth and success for your organization. In this assignment, you will work individually to generate and present an innovative business idea for a proposed venture. Your idea should align with the principles of marketing and demonstrate your understanding of market research, target audience analysis, and marketing strategy development. Tasks: 1. Select an Industry/Market: Choose an industry or market segment that interests you. It could be related to technology, healthcare, retail, entertainment, or any other area of your choice. 2. Identify a Problem or Opportunity: Within your chosen industry or market, identify a specific problem or opportunity that you believe needs addressing. This problem or opportunity should be the foundation for your business idea. 3. Conduct Market Research: Perform thorough market research to gather data and insights about your chosen industry or market. Your research should include market size, trends, competition, and customer needs Assignment #1 is a written assignment (maximum 3 pages) that should meet the following deliverables in a professional report format, including title page and references: 1. Introduction: Provide a summary overview of what the reader can expect throughout the document, including the selected industry/market, and why you chose it. 2. Problem Identification: What is the problem or opportunity you identified within your selected industry/market? Provide evidence in your justification. 3. Market Research: Describe the market research you found, including market size, trends, competition, and customer needs, and why this is important. 4. Innovation: Describe how your idea is novel and innovative. 5. Conclusion: Provide the reader with a summary of key points from your analysis 6. References: Using APA 7 citations, ensure all external references are cited appropriately.