Overview: For your first milestone, due in Module Three, you will develop a SWOT analysis for your new product concept based on data you uncover performing secondary data research. For this...

Overview: For your first milestone, due in Module Three, you will develop a SWOT analysis for your new product concept based on data you uncover performing secondary data research. For this assignment, due in Module Two, prepare for that milestone by providing a preliminary market overview of the target audience for your new product concept, a discussion of the competition, and a projection of the data analysis you will use. You will also consider industry trends relevant to the product.Prompt: Review Chapters 5 and 6 in your text as well as the video SWOT and in a 2- to 3-page paper, address the following: Overview: A brief market overview that identifies the desired target audience (demographic, psychographic, geographic) and a consideration of consumer behavior. Competition: A discussion of the competition: Who are they and why are they considered a competitor? Who is the competitor’s target audience? What product(s) do they sell, and what are the features/benefits/pricing of their product(s)? Limit competition to one primary/direct competitor. Industry Trends: Consider industry trends that may impact the success of your new product concept in the near future (12 months) and long-term (1–3 years). Projected Data Analysis: How will you ensure that the data you are relying on is reputable/valid/accurate? What process will you use to identify potential sources of information and what criteria will you use to determine if the information is relevant, accurate, and worthy of analysis?Cite from the text, the video, and/or your own research to support your responses.RubricGuidelines for Submission: The short paper should follow these formatting guidelines: 2–3 pages in length, double spaced, 12-point Times New Roman font,one-inch margins, and citations in APA style.