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How do i differentiate my business from others

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Reference no: EM131556608

Assignment: Business Plan

Phase 1:

Students will submit their business idea along with a feasibility study for that idea. The feasibility study will contain:

1. Business idea and name : Handmade Personalized and Inspirational Jewelry; Name: Take Heart

2. Company history if established

3. Business and industry profile

a. Market size and expected growth
b. Relative economic and competitive strength of major competitors
c. Business strategy - Needed to meet and beat the competition

4. Business Strategy

a. Desired image and position in the market
b. SWOT Analysis
c. Competitive Strategy

5. Description of the product or service

a. Description

i. Product or service features
ii. Customer benefits

b. Patent or trademarks

c. Description of production process if applicable

d. Future product or service offerings

Phase 2:

Students will submit their marketing plan. It should contain:

1. Marketing strategy

a. Who are my target customers
b. Where do they live, work and shop
c. How many potential customers are in my company's trading area
d. Why do they buy
e. What can my business do to meet their needs
f. How do I differentiate my business from others
g. Documenting market claims
h. Showing customer interest
i. Competitor analysis

Phase 3:

Students will submit their financial plan. It should contain:

1. Description of management team

a. Positions
b. Organizational chart
c. Experience and pay

2. Plan of operation

3. Pro forma financial statements

a. Three years
b. Derived by statistics
c. Show assumptions
d. Capital expenditures planned

4. Loan or investment proposal

a. Purpose of financing.

Reference no: EM131556608

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