BUSINESS PLANNING PROJECT

• Group Assignment• 20% for the written report • 10% for the group presentation• As a group of 5, you guys are partners who want

to start up a new business venture.

Business Ideas

• Kids Friendly Apps• Kids are your future customers so gaining their

loyalty now isn’t a bad idea.• the connectivity of kids as a big trend for

2015. • three-quarters of kids have access to a mobile

device. • be educational or promote good health, you’ll

win their parents over, too.

Business Ideas

• Recycling pickup• Healthcare Consulting• Food Truck• Freelancing

Company Description

Items to include in this section:• Company description.•Mission statement.•Goals and Objectives• Products and services.• Current status.• Legal status and ownership.•Key partnerships (if any).

PART 1: THE CONTEMPORARY BUSINESS ENVIRONMENT

• BUSINESS NAME • What is the name of your business?

• DESCRIPTION OF BUSINESS • What will your business do?

• FORM OF BUSINESS OWNERSHIP • What form of business ownership (sole proprietorship,

partnership, or corporation) will your business take? Why did you choose this form?

Examples

• Google's mission is to organize the world's information and make it universally accessible and useful.

• Objectives: • Increase sales by 15% by the end of 2015.• To create brand awareness by ensure that all

of the population of JB know about this product by the year 2016.

Goals & Objectives

• Creating S.M.A.R.T. Goals• Specific• Measurable• Attainable• Realistic• Timely• Ask yourself the 5W question

Operational Plan

• Items to include in this section:

•Business location.•Facilities and equipment.

Market Analysis

Items to include in this section:

•Market segmentation and target market selection.• Industry Trend• Competitor analysis

Marketing Plan

Items to include in this section:

• Overall marketing strategy.• Product, price, promotions, and distribution.

Cont’• TARGET MARKET• Briefly describe your ideal customer. What are they like

in terms of age, income level, and so on?

• OUR ADVANTAGES • Why will customers choose to buy from your business,

instead of your competition?

PART 4: PRINCIPLES IN MARKETING

• PRODUCT FEATURES AND BENEFITS • Describe the features and benefits of your product or

service.

• PRODUCT DIFFERENTIATION • How will you make your product stand out in the crowd?

13-12

CONT

• PRICING • What pricing strategy will you choose for your

product, and what are the reasons for this strategy?

• PLACE (DISTRIBUTION) ISSUES • Where will customers find your product or service?

(That is, what issues of the distribution mix should you consider?)

13-13

CONT

• ADVERTISING • How will you advertise to your target market? Why

have you chosen these forms of advertisement?

• PROMOTIONS • What other methods of promotion will you use, and

why?

Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 13-14

CONT

• IT RESOURCES & CUSTOMER SERVICES

• What kind of IT resources will your business require? • How will you use information technology to keep

track of your customers and potential customers?

Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 13-15

Management Team and Company Structure

Items to include in this section:•Management team.• Company structure.

Simple company structure