Think of a business opportunity you might pursue based on what you've learned during this course. If you already own a business, think of a new product or service you might develop.

Answer the following in 350 to 525 words:

• Describe in detail 3 specific customer groups you think will be interested in your product or service, (age, gender, education, occupation, ethnicity, family status, preferences, affiliations, values, etc.).
• Explain the reasons you think each group of potential customers will be interested in your product or service.
• Describe how you will approach these customers about buying your product or service.
• Explain how you will deliver and the factors you will consider when pricing your product or service.
• Assess your anticipated gross margin, operating costs, and profit margin. Explain how you will grow your business in the first five years with these in mind.

Answers based on a candle business