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Rutgers EXCHANGE 400 - Research and Problem Identification Instructions

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Research & Problem Identification This assignment is worth 50 points total. (1⁄3 of the points will be assigned for each of the 3 components of this assignment.) Why are we doing this assignment? Because a good venture starts with understanding a “pain point” or opportunity; it addresses a compelling need or strong unmet desire. Thus, the problem statement articulates this need or desire, and uses strong supporting evidence to help persuade someone of the validity of this need. In this assignment, you and your group members will use primary and secondary research to support the identification of either: 1) A problem that is experienced by members of the Rutgers--New Brunswick University community (i.e. students, faculty, and/or staff). The identification of this problem and the articulation of the solution will be the basis of your Business Model Canvas Project. 2) A problem of your own choosing and for which you would like to pursue the development of a venture to solve. However, you need to realize that your problem has to be a real “pain point” or opportunity for it to become a viable venture in the future. The identification of this problem/opportunity and the articulation of the solution will be the basis of your Business Model Canvas Project. Requirements: ● This is an either/or assignment, meaning you will choose to base your venture on a problem within the New Brunswick campus or create a venture that aims to solve a pain point for a larger non-Rutgers market. ● You will submit a summary of your proposed problem/opportunity, primary research and secondary research that is 2-3 pages long. ● Your proposal should be separated into three parts by use of headings (i.e.: Problem Statement, Primary Research, Secondary Research). ○ **Please note, this assignment is not meant to discuss the solution for the problem, only the problem/opportunity discovered through your primary and secondary research. No credit will be given for the discussion of a solution ● Your submission must include a reference page and in-text citations. You can use either APA or MLA, but please be sure to stay consistent with your formatting. You canuse weblinks as appropriate ● Your submission should include specific data from your primary research ○ Charts, survey results, interview transcripts, etc can be included in an appendix at the end of your document and does not add to your page count. ○ Links to view data will not be accepted. Please include any data you would like us to view within your submission. You can copy/paste this into the submission document for clarity ● Your Primary Research section should include as many details as possible regarding how the research was conducted, who participated and which trends emerged. (i.e.: If you conducted interviews in person with a survey, how many people did you interview? Did you use Survey Monkey or Facebook, Qualtrics or Google? What age range, gender, etc?) ○ Be sure the survey population is appropriate for the problem. (If you are trying to solve a Rutgers problem, the survey population should be connected to the Rutgers--New Brunswick community) ● Secondary research is research/data gathered by others. So, census data, market size estimates in research or consulting reports, journal articles, market statistics from trade associations, etc. are all examples. ● This may be a useful resource to help you understand primary vs secondary research https://www.thehartford.com/business-playbook/in-depth/business-primary-second -research ● One submission per group via Blackboard. ● If your group number and name are not at the top of the document, you will lose points. Please feel free to use the Entrepreneurship Research resources portal which is linked in Blackboard; Jordan Nielsen is the Business Librarian serving RBS in New Brunswick. His office is in the Kilmer Library (and he can be reached at 848-445-3615 or via email [email protected]. Please feel free to contact him with any questions regarding accessing the entrepreneurship resources we've provided or if you have questions regarding how to use the secondary research resources we have provided for your


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